Security & Payment Archives | Page 2 of 21 | Be Korea-savvy

Archive by category Security & Payment

Lord Mayor of London Calls for Cooperation with S. Korea on Fintech

Lord Mayor of London Calls for Cooperation with S. Korea on Fintech

SEOUL, Feb. 12 (Korea Bizwire) – The Lord Mayor of London has called for increased cooperation with South Korea on fintech and green finance, the government here said Tuesday. Peter Estlin said South Korea and Britain should facilitate the new FinTech Bridge, a bilateral agreement launched in 2016 to make it easier for the two [...]

Gov’t to Ease Rule on Recharging Credit at Mobile Payment Platforms

Gov’t to Ease Rule on Recharging Credit at Mobile Payment Platforms

SEOUL, Feb. 7 (Korea Bizwire) — The government plans to ease a rule on recharging credit at mobile payment platforms as it seeks to promote the financial technology sector, an official said Thursday. Currently, people in South Korea can recharge up to 2 million won (US$1,782) at a mobile payment platform, such as Kakao Pay [...]

KakaoPay Growing Exponentially

KakaoPay Growing Exponentially

SEOUL, Jan. 23 (Korea Bizwire) — KakaoPay Corp., a South Korean mobile payment platform, surpassed 20 trillion won (US$17.6 billion) in annual transactions last year for the very first time since its launch in September 2014. Transaction volume jumped by more than five times compared to the previous year (US$3.35 billion). Analysts say that KakaoPay [...]

Seoul Test-launches Commission-free Transaction Service to Support Small Businesses

Seoul Test-launches Commission-free Transaction Service to Support Small Businesses

SEOUL, Dec. 20 (Korea Bizwire) — A new smartphone-based payment service, aimed at relieving small business owners of the burden of settlement costs, was launched on a trial basis in Seoul on Thursday. The Seoul Metropolitan Government said it began the trial service of the “Zero Pay” service ahead of its formal launching after March [...]

Online Banking Used Over 100 Million Times a Day in S. Korea

Online Banking Used Over 100 Million Times a Day in S. Korea

SEOUL, Dec. 18 (Korea Bizwire) – South Koreans use online banking services more than 100 million times a day via computers or smartphones, exceeding 53 trillion won (US$46.9 billion) in transactions, as an increasing number of customers are going online to check bank statements, wire cash, and get a loan. The Korea Institute of Finance [...]

Kakao Pay to Allow Users to ‘Sprinkle’ Their Cash with Friends

Kakao Pay to Allow Users to ‘Sprinkle’ Their Cash with Friends

SEOUL, Dec. 4 (Korea Bizwire) — Kakao Pay announced on Monday that it will be adding a ‘sprinkle’ service using its money-wiring function. The ‘sprinkle’ service allows a user to share a certain amount of money with their friends in a KakaoTalk chatroom. The user first selects the number of recipients and the amount of [...]

62,000 Stores Join Zero Pay Transaction System

62,000 Stores Join Zero Pay Transaction System

SEOUL, Dec. 4 (Korea Bizwire) — More than 60,000 member stores of popular franchises across South Korea will be participating in the new government-led Zero Pay program. The Seoul Metropolitan Government, Ministry of SMEs and Startups, Busan Metropolitan Government, and South Gyeongsang Provincial Office signed an agreement with 26 franchises on Monday to implement the [...]

Mobile Payments at Convenience Stores Spike This Year

Mobile Payments at Convenience Stores Spike This Year

SEOUL, Nov. 20 (Korea Bizwire) — Mobile payments at South Korean convenience stores have more than doubled this year thanks to the greater use of smartphones and the expansion of mobile settlement services, a market player said Tuesday. South Korea’s top convenience store chain CU said the number of so-called easy mobile payments at its [...]

Ulsan and KT Agree to Develop Mobile Currency

Ulsan and KT Agree to Develop Mobile Currency

ULSAN, Nov. 15 (Korea Bizwire) — The city of Ulsan and KT Corp. signed a memorandum of understanding on Wednesday to adopt a mobile currency for the city. The two parties agreed to carry out preparatory projects to adopt the local currency, conduct joint studies and research projects, exchange information, and discover innovative ideas that [...]

Local Samsung Pay Users Up 58 pct on-year in Oct.

Local Samsung Pay Users Up 58 pct on-year in Oct.

SEOUL, Nov. 13 (Korea Bizwire) — Samsung Electronics Co.’s payment tool, Samsung Pay, stood as South Korea’s top transaction app in October, data showed Tuesday, with the number of Android-based users rising 58 percent on-year. According to the data compiled by industry tracker WiseApp, Samsung Pay was the most popular financial application for the month, [...]