Seoul: Kakao Pay Corp. on Tuesday reported its third-quarter net loss of 27.5 billion won (US$20 million), remaining in the red compared with a year ago. The company continues to face challenges in its financial performance despite an increase in sales. According to Yonhap News Agency, the company revealed in a regulatory filing that it posted an operating loss of 7.5 billion won for the July-September period. This is a slight improvement compared to a loss of 9.5 billion won in the same period last year. Despite these ongoing losses, Kakao Pay's sales rose by 17.2 percent, reaching 186.2 billion won.