South Korea records double digit growth in smartphone mobile banking

Smartphone-based mobile banking services usage in South Korea posted a double-digit growth for the first three months of this year, central bank data showed on Tuesday.


The daily average of mobile banking usage through smarpthones amounted to 50.979 million in the first quarter, up 12.4 percent from the previous quarter, according to the Bank of Korea (BOK).

Mobile phone
Mobile phone
The number continued to rise from 35.498 million in the fourth quarter of 2014 to 40.125 million in the first quarter of 2015, topping the 40 million for the first time.

It kept increasing from 41.006 million in the second quarter of 2015 to 42.330 million in the next quarter.

In terms of value, smartphone-based mobile banking usage amounted to 2.87 trillion won (2.41 billion U.S. dollars) in the first quarter of this year, up 7.3 percent from three months earlier.

Overall mobile banking services usage, including through mobile phones and smartphones, posted a daily average of 51.15 million in the first quarter, up 12.4 percent from the prior quarter.

Mobile banking transactions amounted to 2.9 trillion won during the January-March period, up 5.7 percent compared with the previous three-month period. Enditem

Source: Xinhua

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