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Kakao Pay, South Korea’s largest mobile payment app, was accused by authorities of transferring users’ personal credit information to Alibaba without their consent.09988)’s Ant Group’s electronic payment platform Alipay. Kakao Pay said that in view of the investigation by the Financial Supervisory Service of South Korea, it has obtained the understanding of its partners since May 22 and temporarily stopped providing relevant information.
Kakao Pay pointed out that based on the entrustment and trust relationship with Alipay, the company provided de-identified information that could not identify specific individuals, and established an illegal payment prevention mechanism through three-party cooperation with Alipay and Apple.
According to the Financial Supervisory Service, Kakao Pay has provided 54.2 billion pieces of personal credit information of 40 million users to Alipay without the users’ consent over the past six years, including the users’ Kakao accounts, mobile phone numbers, emails, Kakao Pay account information, and Kakao Pay payment information.
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