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S. Korea’s Electronic Financial Transactions Grow in 2019

S. Korea’s Electronic Financial Transactions Grow in 2019

SEOUL, March 5 (Korea Bizwire) — The amount of daily financial transactions using credit cards and electronic means continued to grow last year while the use of checks and promissory notes continued to dwindle, central bank data showed Thursday. The value of daily financial transactions using non-cash payment methods, including remittance services, came to 81.4 [...]

Credit-card Commission Fees for Small Merchants to be Lowered from Next Month

Credit-card Commission Fees for Small Merchants to be Lowered from Next Month

SEOUL, Jan. 7 (Korea Bizwire) — Credit-card commission fees for small merchants will be lowered starting next month as the government seeks to ease financial burdens on self-employed business owners, according to officials at credit-card firms Monday. Starting in February, credit-card processing fees for small merchants with an annual revenue of between 500 million won [...]

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 [...]