South Korea’s peer-to-peer money transfer app Toss has attracted more than 10 million users in less than four years since its launch, its operator Viva Republica said Thursday.
The service was preferred by young people. Those in their 20s made up 45 percent of its users, 30s 21 percent, 40s 14 percent, teens 11 percent, and 50s 9 percent.
The most popular service was money transfer, financial dashboard for bank accounts and credit score management, it added.
Toss has facilitated the transfer of about 26 trillion won ($23.3 billion) as of November, with registered bank accounts topping 12 million. It also has processed investments worth 350 billion won.
Modeled after mobile payment services like America’s Venmo, Toss has grown to be the most popular peer-to-peer money transfer app in Korea due to its easy-to-use service.
Viva Republica plans to add savings and overdraft to its service within the year.
By Chung Joo-won and Lee Ha-yeon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]