As non-face-to-face transactions through smartphones increased due to the corona virus last year, the daily usage amount of prepaid services through Kakao Pay and Naver Pay exceeded 600 billion won, recording an all-time high. The amount of electronic payment, which refers to online payments through credit cards and account transfers, also reached 1 trillion won, reaching an all-time high.
According to the Bank of Korea’s ‘2021 Electronic Payment Service Usage Status’ on the 23rd, the average daily performance of prepaid electronic payment service was 664.668 billion won or 23,798,000 cases, up 42.2% and 27.7% from a year ago.
Electronic prepaid payment refers to the payment of remittance, commerce payment, and transportation fee with pre-charged money. The Bank of Korea explained, “Easy payment and remittance performance has increased as companies have provided conveniences such as discount on purchase price, accumulation of points, and gift giving to users of prepaid electronic payment services.”
Last year, the average daily use of electronic payment and settlement (PG) services was 904.8 billion won, or 21.72 million, up 28.0% and 29.5% from a year ago. PG service is a service that sends and receives payment information to receive payments from buyers and finally pays them to sellers in e-commerce, or settling the price on behalf of the seller. Due to the spread of Corona 19, etc., it is growing steadily as people prefer non-face-to-face online transactions.
The use of the simple payment service, which uses biometric information stored in smartphone devices, etc., recorded 60.54 billion won, 1,812,000 cases. It increased by 35.0% and 36.3%, respectively, from a year ago due to the establishment of mobile financial transaction services.
The simple remittance service also increased by 41.5% and 33.0%, with an average of 504.51 billion won and 4.333,000 transactions per day.
By Kim Seung-hoon
