Mobile Banking Archives | Be Korea-savvy
Daily Transactions of Mobile Banking Exceed 6 tln Won in H1

Daily Transactions of Mobile Banking Exceed 6 tln Won in H1

SEOUL, Oct. 1 (Korea Bizwire) — The value of daily transactions of mobile banking services in South Korea surpassed the 6 trillion-won (US$5 billion) mark for the first time, central bank data showed Tuesday. The value of daily transactions of mobile banking services stood at 6.04 trillion won in the first half, up 10.8 percent [...]

Internet Banking Users in S. Korea Rise 8.5 pct in 2018

Internet Banking Users in S. Korea Rise 8.5 pct in 2018

SEOUL, Mar. 28 (Korea Bizwire) — South Korea’s Internet banking services grew at a fast clip last year, with the number of daily transactions and their total value reaching record highs, central bank data showed Thursday. The number of online banking service users came to a record 146.56 million as of the end of 2018, [...]

Regulator to Help People Get Back Money Transferred to Wrong Accounts

Regulator to Help People Get Back Money Transferred to Wrong Accounts

SEOUL, Sept. 18 (Korea Bizwire) — The financial regulator said Tuesday it will help people retrieve money mistakenly sent to wrong bank accounts. The move came as the number of erroneous transactions has been on the rise with more people using their smartphones for money transfers. If a person sends money to a wrong account, [...]

Deregulation Brightens Prospects for Internet-Only Banks

Deregulation Brightens Prospects for Internet-Only Banks

SEOUL, Aug. 8 (Korea Bizwire) — Prospects for Internet-only banks’ expansion received a major boost as President Moon Jae-in pledged to ease some regulations that ban nonfinancial companies from owning more than a 4 percent stake in a lender. Moon reversed his campaign pledge to keep the regulations intact Tuesday as he attended a meeting [...]

Samsung Pay Expanding into Mobile Banking Service

Samsung Pay Expanding into Mobile Banking Service

SEOUL, Dec. 10 (Korea Bizwire) — Samsung Electronics Co.’s mobile payment system is moving to expand into the banking sector to offer more diverse services to users, the South Korean tech giant said Sunday. The company said that starting Thursday, the payment system installed on some of its newer smartphones can be used to carry [...]

Internet-only Banks Beat Out Traditional Mobile Banking in Consumer Satisfaction Survey

Internet-only Banks Beat Out Traditional Mobile Banking in Consumer Satisfaction Survey

SEOUL, Dec. 7 (Korea Bizwire) – Internet-only banks like K Bank and Kakao Bank are rated higher in consumer satisfaction than online banking services provided by traditional financial institutions, but trust issues with the online services remain. Consumer satisfaction with internet-only banks was higher in six categories, among them bank fees and interest rates, compared [...]

Convenience Stores Open New Biz Opportunities for Banks

Convenience Stores Open New Biz Opportunities for Banks

SEOUL, Jul. 14 (Korea Bizwire) — Convenience stores are emerging as the darling of South Korean lenders that are trying to cope with rising costs amid the fast-changing business environment centered on growth in online and mobile banking services. At the forefront of such a move are Internet-only banks such as K-Bank, which have no [...]