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Online Banking Used Over 100 Million Times a Day in S. Korea

Online Banking Used Over 100 Million Times a Day in S. Korea

SEOUL, Dec. 18 (Korea Bizwire) – South Koreans use online banking services more than 100 million times a day via computers or smartphones, exceeding 53 trillion won (US$46.9 billion) in transactions, as an increasing number of customers are going online to check bank statements, wire cash, and get a loan. The Korea Institute of Finance [...]

Euronet USA’s Advanced Technology Solution Selected by Banco de Moçambique for Their National Payment Network

Euronet USA’s Advanced Technology Solution Selected by Banco de Moçambique for Their National Payment Network

LEAWOOD, Kan., Dec. 17 (Korea Bizwire) — On Monday, December 10, 2018, Euronet USA, Inc. signed an agreement with Banco de Moçambique to provide a modernized national payment network solution to Mozambique.  Under the agreement, Euronet will provide state-of-the-art software for the financial system in Mozambique.  Euronet’s superior technology combined with over 40 years of [...]

Seoul’s New QR Code Payment for Taxis to Prevent Overcharging

Seoul’s New QR Code Payment for Taxis to Prevent Overcharging

SEOUL, Oct. 24 (Korea Bizwire) — For the first time in South Korea, the Seoul Metropolitan Government plans to adopt a system in which dynamic QR codes are used to easily pay taxi fares. The city’s plan for a QR code payment standard for taxis will be compatible with various payment methods. Starting in January [...]

INVEX Partners with Ondot to Launch the First Instant Digital Card in México

INVEX Partners with Ondot to Launch the First Instant Digital Card in México

Santa Clara, California and Mexico City, Mexico, Oct. 22 (Korea Bizwire) — INVEX (BMV: INVEX A) Credit Card business, the only monoliner specializing in payments and cobranded cards, with focus on 100% digital customer experience in Mexico, has partnered with Ondot, the global leader in mobile payments services, to deliver full card life-cycle management associated [...]

Cashless Economy Encroaches on Everyday Life

Cashless Economy Encroaches on Everyday Life

SEOUL, Oct. 12 (Korea Bizwire) — On an ordinary weekday in downtown Seoul a middle-aged woman walks into a Starbucks to order a cup of coffee. When she takes some paper bills out of her purse to pay the cashier, he politely refuses them and points to a notice at the entrance. “This store doesn’t [...]

Credit Card Companies Pay Close Attention to the Launch of “Seoul Pay”

Credit Card Companies Pay Close Attention to the Launch of “Seoul Pay”

SEOUL, Jul. 26 (Korea Bizwire) — Credit card companies are on high alert after the launch of a new payment system by the city of Seoul that allows small business owners and their customers to make monetary transactions without any fees. Yesterday, the Seoul Metropolitan Government announced the launch of “Seoul Pay,” a zero transaction [...]

Paysafe Launches Paysafecash – the Ground-breaking New Payment Solution for the ‘Cash Consumer’

Paysafe Launches Paysafecash – the Ground-breaking New Payment Solution for the ‘Cash Consumer’

LONDON, Jun. 4 (Korea Bizwire) — Leading global payments provider, Paysafe, today announces the global launch of its latest alternative payment solution – ‘Paysafecash’. The pioneering and ultra-safe online cash payment option has been designed to cater for the sizeable number of online shoppers around the world who still prefer to pay by cash. Recent [...]

Blockchain Can Prevent Delays in Payment for Products Delivered by SMEs: Report

Blockchain Can Prevent Delays in Payment for Products Delivered by SMEs: Report

SEOUL, Mar. 12 (Korea Bizwire) — Smart contracts based on blockchain technology can effectively prevent delays in payments for delivered goods and make it impossible to unilaterally alter original contracts, a local think tank said Sunday. The report by Korea Small Business Institute (KOSBI) said blockchains can open new horizons for how small and medium [...]