debit card Archives | Be Korea-savvy
Debit Card Spending Jumps Thanks to Tax Benefits and Rewards

Debit Card Spending Jumps Thanks to Tax Benefits and Rewards

SEOUL, March 8 (Korea Bizwire) — South Korean consumers are increasingly pulling out their debit cards to make purchases, thanks in part to the income tax deductions their use engenders and attractive loyalty programs, new data from the Bank of Korea (BOK) has revealed. According to the report released by the BOK on Tuesday, spending on [...]

Kakao Corp. to Launch Debit Cards to Compete in Offline Payment Market

Kakao Corp. to Launch Debit Cards to Compete in Offline Payment Market

SEOUL, Jan. 5 (Korea Bizwire) — Kakao Corp., the operator of the country’s top mobile messenger service Kakao Talk, will launch debit cards next week to jump into the offline payment business, company officials said Friday. Promotional events are already under way before the official launch Wednesday for the debit cards that will be linked [...]

Korea Introduces Debit Card Cashback for the First Time

Korea Introduces Debit Card Cashback for the First Time

SEOUL, Sept. 7 (Korea Bizwire) – Starting October 5, Korea will launch its first debit card cashback service at convenience stores. Although a popular practice in a number of western countries, the service has not yet been introduced to Korean consumers.  In a nutshell, the service is offered to customers who wish to add a certain [...]

Card-based Spending Jumped 8.8 Pct in 2015

Card-based Spending Jumped 8.8 Pct in 2015

SEOUL, March 29 (Korea Bizwire) – South Korean credit and debit card spending jumped 8.8 percent last year from a year earlier as consumers increasingly favor using cards both for small-sized daily settlements and big tax payments, government data showed Tuesday. The card-based expenditure reached 667.1 trillion won (US$572 million) in 2015, up from 613.2 [...]

KB Kookmin Bank Introduces Bank Account Offering Insurance against “Phishing”

KB Kookmin Bank Introduces Bank Account Offering Insurance against “Phishing”

SEOUL, May 20 (Korea Bizwire) – As financial frauds increase and personal information is frequently infringed due to phishing and hacking, a local bank launched a new bank account capitalizing on the people’s “worry” on the issue. KB Kookmin Bank began selling the “KB Feel-at-home Bank Account” offering compensation insurance for damages from those financial [...]