Daum Kakao, South Korea’s leading mobile messenger operator, today launched BankWalletKakao, a service that allows users to transmit cash through the messenger platform.
The service, arranged with 16 local banks, lets users share bills or send money through the messenger application KakaoTalk. Subscribers of BankWalletKakao are allowed to deposit up to 500,000 won (US$460.7) in their “bank money” accounts.
A user can send up to 100,000 won per day and receive up to 500,000 won. Daum Kakao, however, said it is under talks with local banks to raise the ceiling.
As a security measure, the service will not work on pre-paid phones, which do not register users’ information. Users can have only one account per device and must be at least 14 years old. Those under 19 will only be allowed to receive cash.
Source: Busan eFM News
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