[THE INVESTOR] Kakao Bank said on Dec. 3 it has unveiled a passbook for members of mobile communities and group communication.
An administrator of a mobile community can open a passbook that can be used to collect membership fees, the internet-only bank said.
As many as 100 members, who are aged 14 or older, can join one passbook, the bank said.
For security reasons, the passbook’s account is available for a virtual account to members of a mobile community, the bank said.
Lee Byeong-soo, a senior Kakao Bank official in charge of the passbook service, said the passbook is expected to help an administrator transparently manage financial transactions among members of a mobile community.
Controlled by Kakao, operator of the country’s dominant messaging app KakaoTalk, Kakao Bank was launched in July last year.
By Song Seung-hyun and newswires (firstname.lastname@example.org)