Seoul: Kakao Pay Corp., the online payment arm of Kakao Corp., announced a return to profitability in the third quarter, driven by robust performance in securities trading and a surge in offline transactions.

According to Yonhap News Agency, Kakao Pay's net profit for the quarter reached 19.1 billion won (US$13.3 million), a significant turnaround from a loss of 27.5 billion won reported in the same period a year ago. The company's operating income for the July-September period was 15.8 billion won, contrasting with a loss of 7.5 billion won in the previous year. Revenue saw a 28 percent increase, totaling 238.4 billion won.

Kakao Pay reported that the total value of transactions processed through its platform was 47 trillion won in the third quarter, marking a 12 percent year-on-year increase. The financial service division, in particular, saw a 72 percent jump in revenue to 94.7 billion won, largely attributed to heightened securities trading activity.

The platform business experienced a 70 percent rise in sales to 14 billion won, bolstered by its data-driven customized advertisement service. Additionally, sales from the payment service division increased by 5.5 percent to 129.7 billion won, supported by a notable rise in both offline and overseas transactions, the company stated.