|
[이데일리 이승현 김인경 기자] The era of Pay, where post-payment is possible, has opened. The first market is Naver Financial’s Naver Pay. In the future, the line between Pay and the existing financial sector is expected to become thinner.
The Financial Services Commission held a regular meeting on the 18th and designated Naver Financial’s small deferred payment as a new innovative financial service. This is the first case of allowing a small deferred payment service through the platform announced by the Digital Finance Council on the 9th.
Naver Pay users can pay first and pay back later, within the limit of 300,000 won per month for each individual, even if the recharge balance is less than the payment amount from April.
The financial authorities promoted small deferred payments for electronic financial companies such as pay companies last year. However, the problem was that the passage of the revised bill of the Electronic Financial Transactions Act, which is the underlying law, was delayed. The Financial Services Commission changed its direction to use the financial regulation sandbox in order to quickly launch the service. Gyu-sang Doh, Vice Chairman of the Financial Services Commission at the time, said at the Digital Finance Council, “We will actively support new and innovative financial services such as micropayment through the platform to be launched quickly.”
The reason why the financial authorities are actively working is because they believe that the so-called’new filer’ (a person with a lack of financial history) can benefit from the release of an electronic financial company’s postpaid payment service. The size of the new filer in Korea is estimated to be about 13 million people. Financially underprivileged groups, such as newcomers and housewives, were disadvantaged in using financial services because there were not enough existing financial transactions.
Unlike the existing financial sector, the biggest weapon is that Pay companies can provide credit to those with financial background shortages through credit evaluation using non-financial information such as shopping information they possess. In the case of Naver Financial, an alternative credit rating system that combines financial information and non-financial information will be used to calculate the limit for deferred payment of consumers. It is a method of measuring an individual’s creditworthiness using various life data such as mobile phone payment and online shopping payment. In this way, it becomes possible to rate credit against new filers who lack financial transactions.
As Naver Financial finished its first start, applications from other electronic financial companies are expected to continue. In the industry, electronic financial companies such as Kakao Pay, Toss, and Finck are mentioned. It is known that Kakao Pay is currently preparing to enter the small deferred payment market.
Separately, the financial authorities plan to continue to push forward the passage of the revised bill of the Electronic Financial Transactions Act for the Small Deferred Payment System.
Deferred payment services of electronic financial companies are strictly limited to installments, revolving, and cash services that accrue interest.
The card industry faced a big challenge. This is because electronic financial companies can actually work in credit card businesses as well.
In the financial sector, the monthly deferred payment limit of 300,000 won per person is highly likely to increase over time. In the case of actual mobile carriers, postpaid payments started at 300,000 won per month in 2016, and has increased to 1 million won per month.
There are also concerns that the management of delinquent bonds will not be easy because pay companies lack expertise in soundness management compared to existing card companies. There are no specific guidelines on this issue yet.
Jung Joong-ho, head of the Hana Financial Management Research Institute, said at a discussion meeting on the amendment to the Electronic Financial Transactions Act hosted by the Korea Financial Research Institute. “There are parts that are necessary but not clear.”
|
