SEOUL, June 7 (Korea Bizwire) — In response to the challenge posed by tech giants making inroads in the banking industry, traditional financial services companies such as banks and credit card issuers are going on the counterattack. Credit card companies are preparing to launch an ‘open pay’ service that enables customers to register and use [...]
SEOUL, Jan. 25 (Korea Bizwire) — Credit card companies are competing over Starbucks Coffee Korea Co., the local unit of the U.S. coffee giant, releasing new cards with exclusive benefits including free, limited editions of smartphone cases and higher discounts. Hyundai Card Co. recently released its new Starbucks Hyundai Card, which offers Starbucks reward points [...]
SEOUL, Dec. 2 (Korea Bizwire) — Payments made with cards in South Korea grew more than 5 percent in October amid the new coronavirus outbreak, industry data showed Wednesday. Spending made with credit, debit and prepaid cards came to 77.3 trillion won (US$69.7 billion) in October, up 5.4 percent from a year earlier, according to [...]
SEOUL, Nov. 20 (Korea Bizwire) — Card spending made during a massive nationwide annual shopping festival earlier this month rose 6.3 percent from a year earlier, the trade ministry said Friday, amid the new coronavirus outbreak. Card spending amounted to 37.4 trillion won (US$33.5 billion) in the Nov. 1-15 period, when the country held the [...]
SEOUL, Nov. 12 (Korea Bizwire) — Online credit card spending in South Korea spiked more than 35 percent in September as consumers avoided going out due to the spread of the novel coronavirus, data showed Thursday. Online and telemarketing credit card purchases came to 10.29 trillion won (US$9.2 billion) in September, up 35.1 percent from [...]
SEOUL, Aug. 27 (Korea Bizwire) — South Koreans’ overseas card spending dropped by the most in more than two decades in the second quarter on a sharp decline in the number of outbound travelers amid the COVID-19 pandemic, central bank data showed Thursday. The amount of money spent overseas by Koreans with cards, including credit [...]
SEOUL, July 14 (Korea Bizwire) — Payments made with cards here began to drop shortly after the country confirmed the new coronavirus outbreak in late January, central bank data showed Tuesday, in what could be another data backing reduced spending amid the pandemic. Between February and May, the overall amount of payments made with cards [...]
SEOUL, May 13 (Korea Bizwire) — Credit card spending in South Korea fell at a slower pace in April than a month earlier amid signs of the coronavirus outbreak easing, data showed Wednesday. Credit card purchases approved by the country’s eight card firms — Shinhan, Samsung, KB Kookmin, Hyundai, BC, Lotte, Woori and Hana — [...]
SEOUL, April 28 (Korea Bizwire) — South Korea’s credit card spending fell at the fastest rate ever last month, data showed Tuesday, amid the spread of the new coronavirus that continued to keep people away from unnecessary contact. In March, the amount of purchases using credit and debit cards dropped 4.3 percent from the same [...]
SEOUL, April 22 (Korea Bizwire) — Credit card loans in South Korea surged nearly 26 percent on-year in March as cash-strapped people rushed to borrow from card firms amid a prolonged coronavirus outbreak, industry data showed Wednesday. New loans extended by seven credit card firms — Shinhan, KB Kookmin, Woori, Hana, Samsung, Hyundai and Lotte [...]