South Korea’s mobile payments jump 53% - Mobile World Live

South Korea’s mobile payments jump 53%

11 OCT 2016

South Korea’s mobile payments market expanded 53 per cent sequentially in Q2 as more Koreans used their smartphones to make purchases, according to the Bank of Korea.

Mobile payments in the quarter nearly doubled from Q1 to an average of KRW20.7 billion ($18 million) per day, Yonhap news agency reported.

The central bank said the average number of mobile payments made per day increased 83 per cent quarter-on-quarter to 810,000.

The country, with 28.17 million cards preregistered on users’ smartphones in Q2, has 11 mobile payment services, including KakaoPay (owned by Daum Kakao which operates one of South Korea’s most popular messaging apps, KakaoTalk), Naver Pay (run by the country’s top internet portal operator Naver) and Samsung Pay.


Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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