Value of mobile payment transactions South Korea 2016-2018
In 2018, around 80 trillion South Korean won worth of mobile payment transactions were made in South Korea. Mobile payment here, also called simple payment service in Korean, refers to a type of FinTech that started to grow in South Korea after the abolition of compulsory public key certificate use for online payments that happened in 2015. Consumers can make payments using simple methods of authentication, such as an SMS code or a QR code.
