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Finance

KakaoPay automatically extends KakaoPay Money expiry by 10 years

KakaoPay will automatically extend the validity period of KakaoPay Money by an additional 10 years for users reaching their first expiry date, it said on Tuesday. KakaoPay Money is a prepaid electronic payment instrument launched in April 2016. While the law applies a five-year commercial statute of limitations to such instruments, KakaoPay has operated a 10-year validity period based on the last top-up or use date.

Finance

Easy payments and payment gateway use rise as non-face-to-face payments spread

Use of electronic payment services rose broadly last year, extending the spread of non-face-to-face payments, the Bank of Korea said. Average daily use of payment gateway (PG) services and prepaid electronic payment instruments increased 9.2 percent and 11.0 percent from a year earlier. Easy payment and easy remittance also grew. Escrow services and electronic bill presentment and payment expanded as well. The number of electronic payment service providers totalled 250 at end-2025.