Online payment Syrup Pay sees growth

By 김영원
  • Published : Aug 10, 2015 - 16:57
  • Updated : Aug 10, 2015 - 16:57

IT solutions developer SK Planet’s online payment service Syrup Pay is gaining traction as it saw transactions executed through the system increase fourfold since its launch in April.

The total amount of transactions processed on Syrup Pay crossed the 60 billion won ($51.4 million) mark this month, up from 5 billion won recorded during the first month of its operations, according to SK Planet on Monday.
IT solutions developer SK Planet said Monday that transactions processed on online payment system Syrup Pay had surpassed 60 billion won this month. (SK Planet)

Syrup Pay allows users to make purchases on PCs and smartphones only with passcodes, and does not require the installation of any extra applications or security programs.

Embedded with the firm’s own authentication and security processes, the online payment system guarantees safe online transactions, according to the Pangyo-headquartered IT firm.

SK Planet plans to incorporate the mobile payment system into its mobile ordering app, dubbed Syrup Order, which enables users to place orders at 1,200 coffee shops run by 110 coffeehouse brands and franchises including Caffe Bene, Angel-in-us Coffee and Hollys Coffee.

“Syrup Pay will take the lead in the era of online payment market with convenient services that enable users to make purchases anytime and anywhere,” Lee Eun-bok, head of the firm’s merchant product division said.

The company will also make its payment service available on other mobile services such as app market “T store,” and taxi hailing service “T map Taxi.”

Currently collaborating with all domestic credit card companies for the payment service, the affiliate of SK Group will further work with local banks to allow customers to use their debit cards and make money transfers on the payment system.

By Kim Young-won  (