One click payments...and continuos growth of partnerships with social tech players that increasingly own the customers....with banks being the factory
South Korean Web giant Daum Kakao has teamed up with 16 banks to launch a mobile wallet service for online, offline and person-to-person payments. The company - recently created by the merger of search engine Daum and messaging outfit Kakao - is working with the banks via the Korea Financial Telecommunications and Clearings Institute (KFTC) on the BankWalletKakao app. Once users have linked up to 25 bank cards to a chargeable virtual account operated by the KFTC and banks, they can transfer money to friends by tapping the KakaoTalk social graph messaging system, without needing recipients' bank details.
http://www.finextra.com/news/fullstory.aspx?newsitemid=26710
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