Naver and Kakao Pay Transportation Card Functions Strengthened with the Introduction of Climate Companion Card
Kakao “20% refund up to 60 times” vs Naver “100 won accrued per transaction”
Kakao Pay and Naver Pay are actively seeking to attract new users by successively introducing near-field communication (NFC) mobile transportation cards (limited to Android devices).
With the Seoul Metropolitan Government introducing the ‘Climate Companion Card’ in January of this year and the Ministry of Land, Infrastructure and Transport also implementing the ‘K-Pass’ (formerly the economical transportation card) project starting in April, competition among companies over the transportation card payment platform market is fierce.
According to industry sources on the 14th, Kakao Pay has introduced a mobile transportation card called ‘K-Pass’ that refunds a certain percentage of the cost of all public transportation, including metropolitan buses, Shinbundang Line, and GTX. It surpassed 100,000 cumulative subscribers in just one month since its launch in May.
K-Pass provides a 20% refund of the usage fee (30% for young people and 53% for low-income people) for up to 60 times when used 15 times or more per month. Users who mainly use Kakao Pay can also receive up to 10% of the public transportation usage fee as a transportation card recharge coupon based on the previous month’s usage.
In order to attract more users, Kakao Pay is currently running a promotion in which the first 2,000 to 5,000 K-Pass users each month will receive a 3,000 won transportation card recharge coupon starting in May. In September, the first 2,000 users will also receive a 3,000 won recharge coupon.
Naver Pay responded by launching a ‘mobile transportation card’ in May. It extended the promotion of accumulating 100 won of Naver Pay points per bus and subway ride nationwide that started immediately after the launch until the end of this year.
Users who have used Naver Pay with the Samsung Pay payment function will receive up to 200 won in points.
Based on 50 rides on the Seoul subway (base fare 1,400 won) and 100 won accrual, the final transportation cost is 65,000 won, which means you can save 5,000 won (7%). When you accrue 200 won with Naver Pay X Samsung Card, you can save up to 10,000 won (14%).
Naver Pay Mobile Transportation Card has eliminated the recharging fee and balance refund fee (refund within 7 days or when 80% of the balance is used) and added an automatic recharging function. You can receive a transportation card exclusively for the affiliated transportation card issuer ‘Joy of Travel’ through the app and recharge Pay Money.
Points are accumulated based on the boarding records on the mobile transportation card service page, and can be accumulated up to 4 times a day and up to 10,000 won per month. The lump sum payment date for points is the 17th of every month.
Naver Pay will ease the conditions for free balance refunds to 40% or less of the balance (currently 20% or less) starting October 1. When refunding a balance of 10,000 won or less, it must be 20% or less as before.
An industry insider said, “If you use the Seoul-only Climate Companion Card outside of Seoul, such as on the GTX line, Shinbundang Line, or Bundang Line, you will have to go to the station staff and pay separately, which is inconvenient.” He added, “If you use the Paysa transportation card according to your individual public transportation usage, you can conveniently enjoy more benefits.”
(Seoul = News 1)
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2024-09-14 03:42:21