SEOUL, Korea, April 9 (Korea Bizwire) – Last year, the number of cards issued, both credit and debit, declined for the first time. According to the Bank of Korea’s “Payment and Settlement Report for 2013,” a total of 209.03 million cards were issued last year, down 4.3 percent from the previous year’s 218.46 million. This [...]
SEOUL, Korea, April 3 (Korea Bizwire) – The receipts printed upon making transactions are doing more harm than personal data spill: waste of resources, and the fear of endocrine disruptor commonly known as environmental hormone. However, the credit card companies and the government authorities are not coming up with any remedies to the matter. On [...]
SEOUL, Korea, Mar 13, 2014 (Korea Bizwire) – A quiet-but-fundamental change is under way in the credit card industry. The check card, also known as the debit card, is fast replacing the credit card as the main means of payment after 14 years since LG Card began issuing the card in 2000 for the first [...]
SEOUL, Korea, Feb 23 (Korea Bizwire) – Ahead of the enforcement of a new law on personal information protection on August 7 this year, those in the financial service industry are nervous about what will happen afterward. Unless credit card companies, finance companies, and other smaller lenders are able to find legally permissible grounds for [...]
SEOUL, South Korea, Aug 27 (Korea Bizwire) – People once talked about the end of cash with the advent of the credit payment system. In Korea, ever since that time, credit card companies have competed fiercely with each other to draw more customers through diverse benefits such as customer loyalty program points and discounts. Then what’s [...]