KakaoPay has unveiled a service for sole proprietors that allows them to check business credit scores as well as loan, card and delinquency information at once, and to pre-check the chances of approval for a sole proprietor loan.

KakaoPay said on Sept. 14 it has launched a sole proprietor service called "Business Credit Management."

Business Credit Management is a service designed to let sole proprietors view in one place the credit information needed in running their businesses. It provides credit information related to business operations, including business credit scores, loan status, card spending and delinquency history.

It also provides a pre-check function that allows users to confirm approval chances by product before actually applying for a sole proprietor loan. KakaoPay explained that this helps users decide whether to apply for a loan based on their credit status.

The service is provided in partnership with Korea Credit Bureau (KCB). It combines KCB credit assessment information with KakaoPay's platform to offer credit management functions for sole proprietors.

KakaoPay plans to upgrade the service by analyzing and showing the reasons behind changes in credit scores, and by sequentially adding customized guidance features to help manage credit scores.

A KakaoPay official said, "We will upgrade financial services for sole proprietors so they can manage everything in one flow, from checking credit to searching for the financial products they need."

KakaoPay also said it will begin supporting "Seoul Pay Plus" payments from Sept. 14, the first such support among domestic simple payment and app card services.