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Internet banking transactions at new record high in 2019

All News 12:00 April 01, 2020

SEOUL, April 1 (Yonhap) -- South Korea's Internet banking services continued to grow in 2019, with the number of users and daily transactions climbing to new highs, central bank data showed Wednesday.

The number of internet and mobile banking users came to about 159.2 million as of end-2019, up 8.6 percent from a year before, according to the data from the Bank of Korea (BOK).

The figure is the simple sum of all registered users at 18 internet and mobile banking service providers in the country, meaning the same person may count multiple times toward the sum, according to the BOK.

Such an increase was largely attributed to a sharp rise in the number of mobile banking users, which jumped 15.5 percent to over 120 million over the cited period.

The daily use of online banking services also grew at a fast clip with the average number of daily transactions spiking 19 percent on-year to 12.3 million.

The daily average of the amount moved via Initernet and mobile banking services came to 48.8 trillion won (US$40 billion), up 2.7 percent from a year earlier.

Internet banking transactions at new record high in 2019 - 1

bdk@yna.co.kr
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