Online banking transactions at record high in 2015

Online banking transactions at record high in 2015

Korea’s Internet banking transactions surged to a record high last year, central bank data showed Thursday.

The daily amount of money transferred through Internet banking services also 40 trillion won ($32.79 billion) for the first time in history, the Bank of Korea said.

The number of daily transactions processed via the Internet reached an average 78.02 million in 2015, rising 17.4 percent from the previous year.

The amount of money processed through such means also surged 9.3 percent on-year to an average 40.29 trillion won per day.

The jump was partly attributed to a rise in the number of users, which jumped 13.2 percent on-year to 116.86 million as of end-2015. This includes those using mobile phone-based banking services, which added some 16.45 million new subscriptions from the previous year to 76.56 million in 2015.

The number of subscriptions to Internet banking services has risen steadily, from 86.4 million in 2012 to 95.5 million in 2013 and breaching the 100 million mark in 2014.

Mobile banking users accounted for nearly two-thirds of all Internet banking users.


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