SEOUL, May 26 (Korea Bizwire) — South Korea’s credit card companies are cutting overseas automated teller machine (ATM) withdrawal limits as part of their risk management efforts. The nation’s largest credit card company, Shinhan Card Co., announced on Tuesday that it will reduce per-client overseas ATM withdrawal limits to US$50,000 per month starting from next [...]
SEOUL, March 17 (Korea Bizwire) — Credit card companies are looking for a financial breakthrough in the data industry as they continue to struggle from Buy Now, Pay Later (BNPL) services. The onslaught of the fintech companies is pushing credit card companies away from their profit centers, after they lost monopoly over the BNPL market [...]
SEOUL, Nov. 27 (Korea Bizwire) — South Korea’s comprehensive plan to deal with credit card fees paid by merchants is taking a heavy toll on credit card companies. The implementation of the plan may result in losses among card companies year, forcing them to take emergency measures. “Credit card companies were stunned to find out [...]