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THE INVESTOR
June 23, 2018
Big Reunion

Kakao Pay’s blockchain-based authentication boasts 1m users

  • PUBLISHED :March 08, 2018 - 14:51
  • UPDATED :March 08, 2018 - 14:51
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[THE INVESTOR] Kakao Pay said on March 8 that more than 1 million people have joined its blockchain-based mobile authentication service.

The milestone came just eight months after the tech company rolled out Kakao Pay Authentication, a mobile messenger-based digital authentication service.

The service eases the authentication process between the institution and customers by digitally documenting customers’ signatures, the company said.

Blockchain has gained ground in recent years as its distributed ledger system is believed to be safe against forgeries and alterations.

Users of KakaoTalk, Korea’s top mobile messenger, can use the authentication service on the mobile messenger without having to download an application.

A total of 20 institutions and companies, including insurer AIA Life Korea and the Korea Transportation Safety Authority, use the service, Kakao Pay said, adding that it plans to expand the service.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)
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