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THE INVESTOR
June 21, 2018
Big Reunion

Mobile & Internet

E-payments in Korea hit fresh record high in Q3

  • PUBLISHED :December 20, 2017 - 14:36
  • UPDATED :December 20, 2017 - 14:36
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[THE INVESTOR] The amount of payments in Korea made through electronic means hit a fresh record high in the third quarter as online financial transactions are becoming more common in the world‘s most wired country, central bank data showed on Dec. 20.

The daily average amount of electronic financial transactions came to 485.4 billion won (US$447 million) in the July-September period, up 10 percent from a quarter earlier, according to the data from the Bank of Korea.

The figure is the highest since the central bank started collecting data on electronic payments in 2008.

The daily average number of electronic deals also rose 6.3 percent on-quarter to a record 23.5 million over the cited period.

Meanwhile, the daily transactions of mobile payments or digital wallet services like Samsung Pay soared 38.8 percent on-quarter to an average 3.41 million worth 124.1 billion won in the third quarter, the BOK data added.

By Alex Lee and newswires (alexlee@heraldcorp.com)
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