'Simple payment' services using biometric authentication up over 11 pct in H1: BOK

The use of payment services employing passwords, biometric data and other authentication methods rose more than 11 percent in the first half, reflecting the growing trend of contactless commerce, central bank data showed Monday. The daily average value of simple payment transactions reached 1.046 trillion won ($745.77 million) in the January-June period, up 11.4 percent from a year earlier, according to the data from the Bank of Korea (BOK). The daily average number of transactions rose to 33.78 million, marking a 13.7 percent increase compared with the same period last year. Simple payment services allow users to pay for goods and services using simplified authentication measures, such as passwords, fingerprints or facial recognition without requiring the public certificate system. The use of payment gateway (PG) services, which manage the transmission of payment information and settlement on behalf of online shopping platforms, also increased, led by credit card transactions. In 2024, PG service transactions totaled 33.14 million cases worth 1.532 trillion won, up 11.8 percent and 8.9 pWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times