The Korea Herald


[Graphic News] Electronic payments jump in H1 amid pandemic

By Nam Kyung-don

Published : Oct. 24, 2022 - 08:01

    • Link copied

The amount of payments made electronically posted two-digit growth in the first half of this year, central bank data showed, as the COVID-19 pandemic prompted more people to engage in contactless commerce.

The daily average amount of electronic financial transactions came to 802 billion won ($575 million) in the January-June period, up 13.5 percent from six months earlier, according to the data from the Bank of Korea.

The daily average number of electronic financial transactions rose 4.4 percent to 26.48 million.

Electronic financial transactions include all internet and mobile-based payments, as well as purchases made with electronic credit and debit cards. (Yonhap)