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    The Bank of Korea

    News stories featuring The Bank of Korea:

    Bank of Korea signs up retailers for coinless society trial

    April 20th, 2017

    The Bank of Korea (BOK) has signed up retailers including CU, 7-Eleven, E-Mart, Lotte Mart and Lotte Department Store to begin trialling a service that will give customers change in the form of a top-up to a prepaid card. “Cha Hyeon-jin, an official handling the issue at the BOK, said no decision has been made yet on whether the pilot project could eventually lead to a cashless society, but he predicted that there is a good chance that such a development may be possible down the road,” Korea Times reports.

    Biometric payments pilot to test palm vein replacement for cards

    January 10th, 2017

    South Korea’s Financial Services Commission (FSC) is planning to launch a pilot in the first half of 2017 that will allow consumers to make payments at the point of sale using palm vein authentication technology,… More

    Korean central bank to put small change on cards

    January 9th, 2017

    The Bank of Korea (BOK) is to pilot a service that allows merchants to give customers change in the form of a top-up onto a prepaid card instead of coins. The project forms part of… More

    One in six Koreans use mobile to pay in-store and online

    January 21st, 2016

    One in six South Korean consumers (15.8%) have used a mobile to pay for in-store or online purchases, research by The Bank of Korea shows. “44.4% said they used their mobile devices for shopping up to three times per month,” Yonhap News Agency reports. “49.5% said they used the mobile banking services twice a week, followed by 36.4% who have tried the service at least once over the past six months.”

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