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PUBLISHER: Euromonitor International | PRODUCT CODE: 1168994

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PUBLISHER: Euromonitor International | PRODUCT CODE: 1168994

Financial Cards and Payments in South Korea

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PAGES: 54 Pages
DELIVERY TIME: 1-2 business days
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In 2022, the number of financial cards in circulation continues to grow, driven by credit cards, store cards and closed loop pre-paid cards. Demand and usage are being driven by the relaxing of restrictions in South Korea, with social distancing measures being lifted on 18 April 2022. After two years, the government also lifted the limits on business hours for various facilities including foodservice, while the limit on the number of private gatherings of to 10 people was also completely lifted.

Euromonitor International's Financial Cards and Payments in South Korea report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.

Product coverage: Financial Cards in Circulation, M-Commerce, Transactions.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Financial Cards and Payments market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market's major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.
Product Code: FCKR

TABLE OF CONTENTS

List Of Contents And Tables

EXECUTIVE SUMMARY

  • Financial cards and payments in 2022: The big picture
  • Relaxing of restrictions drives up stronger usage of commercial cards, while open loop pre-paid loses momentum following withdrawal of national relief fund
  • Remote payments accelerated by mobile m-commerce
  • Competitive landscape
  • What next for financial cards and payments?

MARKET INDICATORS

  • Table 1 Number of POS Terminals: Units 2017-2022
  • Table 2 Number of ATMs: Units 2017-2022
  • Table 3 Value Lost to Fraud 2017-2022
  • Table 4 Card Expenditure by Location 2022
  • Table 5 Financial Cards in Circulation by Type: % Number of Cards 2017-2022
  • Table 6 Domestic versus Foreign Spend 2022

MARKET DATA

  • Table 7 Financial Cards by Category: Number of Cards in Circulation 2017-2022
  • Table 8 Financial Cards by Category: Number of Accounts 2017-2022
  • Table 9 Financial Cards Transactions by Category: Value 2017-2022
  • Table 10 Financial Cards by Category: Number of Transactions 2017-2022
  • Table 11 Consumer Payments by Category: Value 2017-2022
  • Table 12 Consumer Payments by Category: Number of Transactions 2017-2022
  • Table 13 M-Commerce by Category: Value 2017-2022
  • Table 14 M-Commerce by Category: % Value Growth 2017-2022
  • Table 15 Financial Cards: Number of Cards by Issuer 2017-2021
  • Table 16 Financial Cards: Number of Cards by Operator 2017-2021
  • Table 17 Financial Cards: Card Payment Transactions Value by Operator 2017-2021
  • Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2017-2021
  • Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2022-2027
  • Table 20 Forecast Financial Cards by Category: Number of Accounts 2022-2027
  • Table 21 Forecast Financial Cards Transactions by Category: Value 2022-2027
  • Table 22 Forecast Financial Cards by Category: Number of Transactions 2022-2027
  • Table 23 Forecast Consumer Payments by Category: Value 2022-2027
  • Table 24 Forecast Consumer Payments by Category: Number of Transactions 2022-2027
  • Table 25 Forecast M-Commerce by Category: Value 2022-2027
  • Table 26 Forecast M-Commerce by Category: % Value Growth 2022-2027

DISCLAIMER

SOURCES

  • Summary 1 Research Sources

DEBIT CARDS IN SOUTH KOREA

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Acceleration of remote payments and digitalisation during pandemic leads to decline in number of debit cards in circulation
  • South Koreans find that debit cards help plan spending compared to using credit
  • NongHyup Bank retains leadership of debit cards

PROSPECTS AND OPPORTUNITIES

  • Ongoing expansion of digital payment service providers results in more competitive environment
  • Debit card issuance based on pre-paid points designated as innovative financial service
  • Stability is key strength of debit cards

CATEGORY DATA

  • Table 27 Debit Cards: Number of Cards in Circulation 2017-2022
  • Table 28 Debit Cards Transactions 2017-2022
  • Table 29 Debit Cards in Circulation: % Growth 2017-2022
  • Table 30 Debit Cards Transactions: % Growth 2017-2022
  • Table 31 Debit Cards: Number of Cards by Issuer 2017-2021
  • Table 32 Debit Cards: Number of Cards by Operator 2017-2021
  • Table 33 Debit Cards Payment Transaction Value by Issuer 2017-2021
  • Table 34 Debit Cards Payment Transaction Value by Operator 2017-2021
  • Table 35 Forecast Debit Cards: Number of Cards in Circulation 2022-2027
  • Table 36 Forecast Debit Cards Transactions 2022-2027
  • Table 37 Forecast Debit Cards in Circulation: % Growth 2022-2027
  • Table 38 Forecast Debit Cards Transactions: % Growth 2022-2027

CHARGE CARDS IN SOUTH KOREA

2022 DEVELOPMENTS

PRE-PAID CARDS IN SOUTH KOREA

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Further rise for closed loop pre-paid cards linked to growth of online gifting services
  • Issue of open loop pre-paid cards declines due to withdrawal of temporary national relief fund
  • Expanding the reach of closed loop pre-paid cards and diversifying purchase methods

PROSPECTS AND OPPORTUNITIES

  • Branded closed loop pre-paid cards to play important role in future growth
  • Pre-paid cards targeting teenagers expected to grow in popularity
  • Open loop pre-paid cards to face ongoing decline

CATEGORY DATA

  • Table 39 Pre-paid Cards: Number of Cards in Circulation 2017-2022
  • Table 40 Pre-paid Cards Transactions 2017-2022
  • Table 41 Pre-paid Cards in Circulation: % Growth 2017-2022
  • Table 42 Pre-paid Cards Transactions: % Growth 2017-2022
  • Table 43 Closed Loop Pre-paid Cards Transactions 2017-2022
  • Table 44 Closed Loop Pre-paid Cards Transactions: % Growth 2017-2022
  • Table 45 Open Loop Pre-paid Cards Transactions 2017-2022
  • Table 46 Open Loop Pre-paid Cards Transactions: % Growth 2017-2022
  • Table 47 Pre-paid Cards: Number of Cards by Issuer 2017-2021
  • Table 48 Pre-paid Cards: Number of Cards by Operator 2017-2021
  • Table 49 Pre-paid Cards Transaction Value by Issuer 2017-2021
  • Table 50 Pre-paid Cards Transaction Value by Operator 2017-2021
  • Table 51 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2017-2021
  • Table 52 Closed Loop Pre-paid Cards: Number of Cards by Operator 2017-2021
  • Table 53 Closed Loop Pre-paid Cards Transaction Value by Issuer 2017-2021
  • Table 54 Closed Loop Pre-paid Cards Transaction Value by Operator 2017-2021
  • Table 55 Open Loop Pre-paid Cards: Number of Cards by Issuer 2017-2021
  • Table 56 Open Loop Pre-paid Cards: Number of Cards by Operator 2017-2021
  • Table 57 Open Loop Pre-paid Cards Transaction Value by Issuer 2017-2021
  • Table 58 Open Loop Pre-paid Cards Transaction Value by Operator 2017-2021
  • Table 59 Forecast Pre-paid Cards: Number of Cards in Circulation 2022-2027
  • Table 60 Forecast Pre-paid Cards Transactions 2022-2027
  • Table 61 Forecast Pre-paid Cards in Circulation: % Growth 2022-2027
  • Table 62 Forecast Pre-paid Cards Transactions: % Growth 2022-2027
  • Table 63 Forecast Closed Loop Pre-paid Cards Transactions 2022-2027
  • Table 64 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2022-2027
  • Table 65 Forecast Open Loop Pre-paid Cards Transactions 2022-2027
  • Table 66 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2022-2027

STORE CARDS IN SOUTH KOREA

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • App-based store card function to provide convenient payment method
  • Hyundai Department Store diversifies consumer reach by introducing new offers
  • Specific benefits and customer care for store card users

PROSPECTS AND OPPORTUNITIES

  • Importance of store cards to secure regular customers will continue to be highlighted
  • The need for store cards to develop more specific features to overcome low versatility
  • Increasing customer contact points through new store openings

CATEGORY DATA

  • Table 67 Store Cards: Number of Cards in Circulation 2017-2022
  • Table 68 Store Cards Transactions 2017-2022
  • Table 69 Store Cards in Circulation: % Growth 2017-2022
  • Table 70 Store Cards Transactions: % Growth 2017-2022
  • Table 71 Store Cards: Number of Cards by Issuer 2017-2021
  • Table 72 Store Cards: Payment Transaction Value by Issuer 2017-2021
  • Table 73 Forecast Store Cards: Number of Cards in Circulation 2022-2027
  • Table 74 Forecast Store Cards Transactions 2022-2027
  • Table 75 Forecast Store Cards in Circulation: % Growth 2022-2027
  • Table 76 Forecast Store Cards Transactions: % Growth 2022-2027

CREDIT CARDS IN SOUTH KOREA

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Credit cards most popular payment method in South Korea, with easing of social distancing driving up usage
  • Government regulation on benefits offered by commercial credit cards
  • Shinhan Card retains leading position in personal credit cards

PROSPECTS AND OPPORTUNITIES

  • As digital payment services expand their reach in offline purchases, credit card players invest in their own digital platforms
  • Credit card players target millennials and Generation Z
  • Intensifying competition for MyData service within credit cards

CATEGORY DATA

  • Table 77 Credit Cards: Number of Cards in Circulation 2017-2022
  • Table 78 Credit Cards Transactions 2017-2022
  • Table 79 Credit Cards in Circulation: % Growth 2017-2022
  • Table 80 Credit Cards Transactions: % Growth 2017-2022
  • Table 81 Commercial Credit Cards: Number of Cards in Circulation 2017-2022
  • Table 82 Commercial Credit Cards Transactions 2017-2022
  • Table 83 Commercial Credit Cards in Circulation: % Growth 2017-2022
  • Table 84 Commercial Credit Cards Transactions: % Growth 2017-2022
  • Table 85 Personal Credit Cards: Number of Cards in Circulation 2017-2022
  • Table 86 Personal Credit Cards Transactions 2017-2022
  • Table 87 Personal Credit Cards in Circulation: % Growth 2017-2022
  • Table 88 Personal Credit Cards Transactions: % Growth 2017-2022
  • Table 89 Credit Cards: Number of Cards by Issuer 2017-2021
  • Table 90 Credit Cards: Number of Cards by Operator 2017-2021
  • Table 91 Credit Cards Payment Transaction Value by Issuer 2017-2021
  • Table 92 Credit Cards Payment Transaction Value by Operator 2017-2021
  • Table 93 Commercial Credit Cards: Number of Cards by Issuer 2017-2021
  • Table 94 Commercial Credit Cards: Number of Cards by Operator 2017-2021
  • Table 95 Commercial Credit Cards Payment Transaction Value by Issuer 2017-2021
  • Table 96 Commercial Credit Cards Payment Transaction Value by Operator 2017-2021
  • Table 97 Personal Credit Cards: Number of Cards by Issuer 2017-2021
  • Table 98 Personal Credit Cards: Number of Cards by Operator 2017-2021
  • Table 99 Personal Credit Cards Payment Transaction Value by Issuer 2017-2021
  • Table 100 Personal Credit Cards Payment Transaction Value by Operator 2017-2021
  • Table 101 Forecast Credit Cards: Number of Cards in Circulation 2022-2027
  • Table 102 Forecast Credit Cards Transactions 2022-2027
  • Table 103 Forecast Credit Cards in Circulation: % Growth 2022-2027
  • Table 104 Forecast Credit Cards Transactions: % Growth 2022-2027
  • Table 105 Forecast Commercial Credit Cards: Number of Cards in Circulation 2022-2027
  • Table 106 Forecast Commercial Credit Cards Transactions 2022-2027
  • Table 107 Forecast Commercial Credit Cards in Circulation: % Growth 2022-2027
  • Table 108 Forecast Commercial Credit Cards Transactions: % Growth 2022-2027
  • Table 109 Forecast Personal Credit Cards: Number of Cards in Circulation 2022-2027
  • Table 110 Forecast Personal Credit Cards Transactions 2022-2027
  • Table 111 Forecast Personal Credit Cards in Circulation: % Growth 2022-2027
  • Table 112 Forecast Personal Credit Cards Transactions: % Growth 2022-2027
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