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Mobile wallet payments in South Korea to surpass US$500bn in 2024, reveals GlobalData
11 Feb 2021
Mobile wallet payments in South Korea to surpass US$500bn in 2024, reveals GlobalData
Posted in Banking
South Korea is a well-developed payments market, with consumers preferring cashless payment. While credit cards are the mostly preferred payment method, mobile wallet payments transaction value is expected to reach KRW581.3 trillion (US$503.5bn) in 2024, according to GlobalData, a leading data and analytics company.
An analysis of GlobalData s Payment Instrument Analytics reveals that the mobile wallet payments transaction value grew from KRW12.0 trillion (US$10.4bn) in 2016 to an estimated KRW209.7 trillion (US$181.6bn) in 2020. ....

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