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Finance

PG industry polarisation deepens as revenue grows and profitability stagnates

South Korea\'s payment gateway (PG) market is growing quickly, but profitability is not improving, deepening polarisation within the industry. The number of registered PG firms rose to 190 at end-2024, while sector revenue climbed to 9 trillion won. Gross profit stayed around 2.1 trillion won. The Financial Supervisory Service highlighted difficulties for smaller firms, as tighter rules after the T-Mep settlement issue and higher capital requirements add to pressures.

Fintech

E-money business revenue tops 12 trillion won for first time, prepaid sector stands out

Revenue at South Korea\'s electronic financial businesses topped 12 trillion won for the first time last year as mobile-based digital transactions expanded, the Financial Supervisory Service said. The number of registered firms rose to 241, up 16.4 percent. Prepaid e-payment services posted notable growth, while balances tied to payment gateways fell. The watchdog said industry polarization was deepening and plans to strengthen sound management through new disclosure standards and measures against firms failing guidance criteria.

Games & Commerce

Return of no-install minigames fuels battle to keep users on platforms

No-install smartphone minigames are emerging as a new tool in platform competition, offering a low-cost touchpoint for ads, payments and direct-to-consumer sales tests. OneStore has unveiled its OnePlay Game service and plans a formal launch this month, with an 8 percent-fee D2C payment service due in late May. Toss is rapidly expanding its App in Toss miniapp ecosystem. The trend reflects user reluctance to install new apps and questions over sustainable monetisation.