Coupang to Launch Simple Payment Service ‘Rocket Pay’ in the Second Half of the Year

Coupang announced on the 10th that it plans to launch its simple payment service, “Rocket Pay,” in the second half of this year. Rocket Pay is a service that expands the use of Coupang Pay, which had been limited to Coupang, Coupang Play, and Coupang Eats, to online and offline merchants nationwide. It is designed to enable payments outside of Coupang by linking bank accounts, credit and debit cards, stored value, and more. Coupang first plans to roll out the service at online merchants, then gradually expand it to offline payments as well. Industry watchers believe that, based on Coupang’s large subscriber base and payment traffic, competition with Naver Pay, Kakao Pay, Toss Pay, and others will intensify in earnest.