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Consumers make purchase decisions based on instinct. And the more time they have to second-guess those decisions, the more likely they are to rethink the purchase, abandon their carts, and skip it altogether. Consumers are less likely to complete the purchase when a digital purchasing experience isn’t seamless—whether it’s a poor checkout interface or limited payment options.
When it comes to payment methods in South Korea, nothing is more trusted in mobile wallets than Kakao Pay, which has over 36.5 million users. And when buyers see a payment method they know and trust—they’re more likely to buy.
Giving buyers payment options that are simple, quick, and familiar is the single most effective way for mobile gaming companies to increase conversion rates and maximize revenue.
With FastSpring’s new, seamless Kakao Pay integration, South Korean mobile gaming or app companies don’t have to wonder if they’re leaving revenue on the table.
Solution Overview
Adding the Kakao Pay integration to mobile and desktop checkout empowers companies to cater to local preferences, reinforcing market presence and building user trust and loyalty. Plus, users will be less likely to abandon their carts due to unfamiliar payment options.
FastSpring’s Kakao Pay integration empowers both desktop and mobile app companies to enhance the following:
New User Acquisition. When purchasing is simple with a familiar payment option, users are likely to complete the transactions they’ve started.
User Adoption and Geographic Reach. When companies offer familiar and secure regional payment methods that align with user preferences and habits, they’re more likely to make repeat purchases.
Customer Satisfaction. When the purchase experience is fast and convenient, customer satisfaction increases.
FastSpring’s Kakao Pay integration is easy for developers to implement and makes purchasing familiar, quick, and easy. Let’s see this solution in action!
Solution in Action
Have you ever played the game Monster Field? Probably not. We created it to highlight how FastSpring’s Kakao Pay integration can boost customer acquisition for mobile gaming companies in South Korea!
Monster Field is based on years of market research and user testing, so when the game launched in South Korea, the company expected significantly higher adoption from new customers. In turn, they implemented a multi-channel strategy to boost awareness and acquisition—including live events and digital advertising—but still weren’t seeing the desired results.
Monster Field’s research team ran a shopping cart abandonment rate analysis to understand how many potential buyers abandon the virtual shopping cart before completing the purchase. What they found was astonishing. While the abandonment rate in other regions averaged fifty percent, buyers were abandoning their carts seventy percent of the time in South Korea!
Monster Field knew if it could close that gap and get conversions closer to the global average, it would boost its revenue substantially.
Monster Field’s dev team decided to toggle on FastSpring’s Kakao Pay option by simply checking the box in the FastSpring platform. Doing so enabled Kakao Pay as a payment method on all checkout flows for buyers in South Korea, including web, pop-up, and embedded.
Kakao Pay allows Monster Field customers in South Korea to complete purchases in United States Dollars (USD) and Korean Won (KRW).
Two months after enabling Kakao Pay, Monster Field ran another card abandonment analysis and found they increased conversion rates by twenty percentage points in South Korea, putting the region on par with other areas where Monster Field is sold. And, across new and repeat customers, thirty-five percent of customers choose Kakao Pay at checkout.
Conclusion
Configuring the Kakao Pay integration is one of the quickest, simplest, and most effective steps a FastSpring user can take to increase customer conversion and revenue.
With FastSpring’s Kakao Pay integrated, customers breeze through the payment process in a familiar environment that converts hesitant browsers into satisfied customers.
No more abandoned carts. No more revenue left on the table. Give buyers a payment method they know and trust, and watch your conversion, satisfaction, and revenue grow.
Want to know more about how we’ve helped gaming companies improve localization and increase revenue? Or, are you ready to get started with FastSpring? Talk to our team today.
