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S. Korea sees increase in smartphone payments
(MENAFN)
Data released by the central bank of South Korea on Monday showed that the daily money transfer using mobile phones in the country reported a strong expansion in H1 due to the coronavirus outbreak.
The daily average money transfer using smartphone apps, like Kakao Pay, Naver Pay and Toss, came in at 322.6 billion won (USD272.5 million) in the period from January to June period, rising 20.3 percent compared to the earlier 6 months period, the Bank of Korea (BOK) said.
The number of daily money transfer through mobile phone payment apps increased 4.7 percent to set at 2.91 million in the period.
This resulted as people went to online financial transactions over fears about the coronavirus outbreak.
Data released by the central bank of South Korea on Monday showed that the daily money transfer using mobile phones in the country reported a strong expansion in H1 due to the coronavirus outbreak.
The daily average money transfer using smartphone apps, like Kakao Pay, Naver Pay and Toss, came in at 322.6 billion won (USD272.5 million) in the period from January to June period, rising 20.3 percent compared to the earlier 6 months period, the Bank of Korea (BOK) said.
The number of daily money transfer through mobile phone payment apps increased 4.7 percent to set at 2.91 million in the period.
This resulted as people went to online financial transactions over fears about the coronavirus outbreak.
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