South Koreans Own An Average Of 3.8 Payment Cards

Published May 06, 2009, 1:00 a.m. EDT

|

Updated May 06, 2009, 12:00 a.m. EDT

1 Min Read

IMGCAP(1)]

Processing Content

South Korean consumers possess an average of 3.8 payment cards, second only to the United States with 5.3 cards, according to a report by India-based research firm RNCOS. "With the rising popularity of electronic banking and growth in information and technology, the number of debit, credit, check and prepaid cards has surged in South Korea," the report says. RNCOS did not provide extended details about the report to CardLine Global. Check cards will have the largest increase of a compound annual growth rate among all payment cards available in the country of 36% between 2009 and 2013.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Stablecoin

Tillis, Alsobrooks drop new stablecoin yield compromise

Sens. Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., have released compromise language on stablecoin yield for a long-awaited crypto market structure bill, clearing the way for a markup in the near future.

By Claire Williams
Reporter

May 1
FDIC

Georgia lender's demise marks second bank failure this year

The FDIC moved quickly on Friday to sell $288 million in assets Community Bank and Trust – West Georgia to Anchor Bank, but the sale announcement leaves the fate of $27 million in uninsured deposits to be determined.

By Ebrima Santos Sanneh
Reporter

May 1
Federal Reserve

Powell is staying at the Fed: What to expect

Market watchers think Jerome Powell will maintain a low-key presence on the Fed board as he awaits the release of an inspector general report examining cost overruns at the central bank's headquarters.

By Maria Volkova
Reporter

May 1
M&A

Banner to buy Pacific Financial, boosting presence in Northwest

Banner Bank is poised to merge with Bank of the Pacific in an all-stock deal valued at $177 million. The two Washington-based commercial banks both have branches in Washington and Oregon.

By Nathan Place
National Reporter

May 1
Community banking

A struggling Florida bank changes CEOs, raises capital

BayFirst Financial in St. Petersburg named veteran Tampa-area banker Al Rogers as its CEO and announced an $80 million capital raise. The bank sold its SBA-lending business last year, but it's still struggling to work through problems in its legacy loan portfolio.

By John Reosti
Reporter

May 1
Credit unions

Judge's ruling is likely to scuttle San Diego credit union merger

San Diego County Credit Union won a court ruling that should help in its effort to get out of its deal to merge with a local competitor. A lawyer for SDCCU said he believes the judge's decision "signals the end of any merger between the two institutions."

By Kevin Wack
Banking Editor

May 1

Load More