In the first half of 2026, the use of mobile payment and electronic payment processing services continued to grow at double-digit rates. Both the number and amount of mobile payment transactions increased, while person-to-person transfer transactions saw a decrease in volume but a significant rise in value.
According to a report released by the Bank of Korea on September 18, the average daily usage of mobile payment services in the first half of this year reached 38.22 million transactions, with a total amount of 12.264 trillion won, marking increases of 12.8% and 16.8%, respectively, compared to the same period last year.
Mobile payments refer to services that allow transactions and transfers using only simplified authentication methods, such as biometric data (fingerprints and facial recognition) and passwords, following the abolition of certified digital signatures in March 2015.
By provider, the share of electronic financial companies like Naver Pay and Kakao Pay increased by 0.3 percentage points to 55.4%, primarily driven by prepaid electronic payment methods. In contrast, the shares of mobile manufacturers and financial institutions decreased to 23.3% and 21.2%, respectively, down by 0.3 and 0.2 percentage points.
In the first half of this year, the average daily usage of person-to-person transfer services was 7.433 million transactions, a 1.5% decrease from the previous year, while the average daily amount increased by 19.8% to 1.1728 trillion won.
Among electronic payment services, the average daily usage of electronic payment processing services reached 36.75 million transactions, with a total amount of 17.234 trillion won, reflecting increases of 12.1% and 12.6%, respectively.
Electronic payment processing services facilitate the collection of payments from buyers in e-commerce and ensure that these funds are ultimately transferred to sellers by transmitting and receiving payment information or acting as an intermediary for settlement.
In terms of payment methods, credit card processing accounted for 74.2% of the total amount in PG services, with usage increasing by 12.8% compared to the previous year, while the amount for bank transfers also rose by 16.7%.
* This article has been translated by AI.
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