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[Alpha Biz=(Chicago) Reporter Kim Jisun] NHN's simple payment service Payco and Samsung Pay, which have maintained a partnership, will break up.
According to the simple payment industry on the 10th, NHN will end its Samsung Pay payment service through the simple payment service Payco app on January 1 next year. The contract between NHN and Samsung Pay is due this year, but it is decided not to extend it any longer.
The reason why NHN broke up with Samsung Pay is to improve its competitiveness to stand on its own with simple payment services.
"The structure did not contribute to Payco sales or gains and losses (in partnership with Samsung Pay)," NHN Payco CEO Jeong Yeon-hoon said in a performance conference call. "We will invest related expenses focusing on transactions related to services that actually contribute to sales."
"There are not many users who only use Samsung Pay in the Payco app, and many users often use other services in Payco, so we terminated the service," a NHN official said. "Depending on choice and concentration, we will focus on core businesses and services that can show Payco's strengths."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
