The delinquency rate of “buy now, pay later” (BNPL) services offered by the nation s three big tech firms - Naver Financial, Kakao Pay and Viva Republica - is on a sharp rise due to the economic slump and prolonged high interest rates, data showed Thursday.
Kakao Mobility announced on Wednesday that it will pay 7,550 won ($5.30) to taxi drivers and 4,260 won to chauffeurs, who have paid the company s membership service fee, as compensation for losses incurred due to the service outage that occurred last Saturday s as a result of a fire at Kakao s main data center in Seongnam, Gyeonggi Province. The mobility service provider s decision has drawn criticism from taxi drivers and lawmakers alike.