The local residential community app Daanggeun Market is introducing its easy payment service, “Daanggeun Pay,” for the first time in Jeju.

Daanggeun Pay allows real-time money transfers and verification within its messenger section without the need to prepare cash separately for a transaction, eliminating the need to exchange personal information such as bank account numbers or account holder names on the street or to confirm money transfers through a banking app.

The easy money transfer function can be experienced in advance through secondhand item transactions between neighbors in Jeju. Daanggeun Market selected Jeju Province for its first service area, since there are many cases in which users’ residence and workplace are often located within the same area, thereby facilitating the most active array of transactions and exchanges among local residents.

Jeju boasts a Daanggeun Market membership rate of over 95% among the target age group (20 – 64). Daanggeun Pay is available to use after updating the Daanggeun Market app to the latest version and undergoing to the location verification.

A maximum of 500,000 won can be placed in the Daanggeun Pay wallet, which is linked to the user’s bank account. Daanggeun Market plans to expand the service area for Daanggeun Pay nationwide within the year.