The Cards and Payments Industry in South Korea: Emerging Trends and Opportunities to 2020

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Published: August 17, 2016 Report Code: VR1116MR-ST

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GlobalData’s ‘The Cards and Payments Industry in South Korea: Emerging Trends and Opportunities to 2020’ report provides a detailed analysis of market trends in the Korean cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, check payments, payment cards, direct debits and credit transfers during the review period (2011–2015).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016–2020). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in regulatory structure.

Scope

• This report provides a comprehensive analysis of the Korean cards and payments industry.

• It provides current values for the Korean cards and payments industry for 2015, and forecast figures to 2020.

• It details the different demographic, economic, infrastructural and business drivers affecting the Korean cards and payments industry.

• It outlines the industry's current regulatory framework.

• It details marketing strategies used by banks and other institutions.

Key Highlights

Which options are increasing the uptake of alternative payments among South Korean consumers? What is the value of registered transactions from Samsung Pay since its launch in 2015? How many registered users has Naver Pay recorded since its introduction in June 2015? Which two other leading competitors launched their respective mobile payment (m-payment) solutions in 2015? Which provider has more recently expanded its m-payment service? Who is this service in association with?

What prompted the South Korean government to introduce measures to control credit card spending whilst encouraging consumers to use debit and prepaid cards? What tax measures has the government introduced that directly impact this issue? What requirements have the financial authorities and card issuers developed with regards to credit cards? What has the Financial Services Commission implemented in relation to debit card use?

What new policy did the Financial Supervisory Service (FSS) announce to provide secured transactions at ATMs? What were the requirements of this new policy? How rapidly was this shift in policy reflected in the actions of South Korea’s consumers?

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Korean cards and payments industry and each market within it.

• Understand the key market trends and growth opportunities in the Korean cards and payments industry.

• Assess the competitive dynamics in the Korean cards and payments industry.

• Gain insights into marketing strategies used for various card types in South Korea.

• Gain insights into key regulations governing the Korean cards and payments industry.

Shinhan Bank
NongHyup Bank
KB Kookmin Card
Samsung Card
Woori Bank
Hana Financial Group
Visa
MasterCard
American Express
Diners Club

Table of Contents

1 Definitions and Methodology

1.1 Definitions

1.2 Methodology

2 Key Facts and Events

3 Executive Summary

4 Payment Instruments

4.1 Current Payment Environment

5 E-Commerce and Alternative Payments

5.1 E-Commerce Market and Payment Methods

5.2 Alternative Payment Solutions

5.2.1 Samsung Pay

5.2.2 Naver Pay

5.2.3 KakaoPay

5.2.4 MasterPass

5.2.5 PayPal

5.2.6 Hana N Wallet

5.2.7 T-Pay

5.2.8 QuickPass

5.2.9 LG Pay

6 Regulations in the Cards and Payments Industry

6.1 Regulatory Framework

6.2 Anti-Money Laundering (AML)

6.3 Foreign Direct Investment (FDI) Regulations

7 Analysis of Cards and Payments Industry Drivers

7.1 Demographic and Economic Drivers

7.2 Infrastructure and Business Drivers

8 Market Segmentation and New Product Launches

8.1 Market Segmentation and Targeting

8.1.1 Consumer cards

8.1.2 Commercial cards

8.2 New Product Launches

9 Payment Cards

9.1 Payment Cards Market Analysis

9.1.1 Volume and value of payment card transactions by type

10 Debit Cards

10.1 Debit Card Market Analysis

10.1.1 Turnover per debit card and transaction values by channel

10.1.2 Debit card scheme and issuer shares in terms of transaction value

10.1.3 Debit cards comparison

11 Pay Later Cards

11.1 Pay Later Cards Market Analysis

11.1.1 Turnover per pay later card and transaction values by channel

11.1.2 Pay later card scheme and issuer shares in terms of transaction value

11.1.3 Pay later cards comparison

12 Commercial Pay Later Cards

12.1 Commercial Pay Later Cards Market Analysis

12.1.1 Commercial pay later cards comparison

13 Card Issuers

13.1 Shinhan Bank

13.2 NongHyup Bank

13.3 KB Kookmin Card

13.4 Samsung Card

13.5 Woori Bank

14 Prepaid Cards

14.1 Prepaid Card Market Analysis

14.1.1 Prepaid cards comparison

15 Appendix

15.1 Tables

15.2 Contact GlobalData

15.3 About GlobalData

15.4 GlobalData’s Services

15.5 Disclaimer

Table

Table 1: Key Definitions

Table 2: Annual Average Exchange Rate

Table 3: South Korea – Key Facts, 2015

Table 4: Regional Benchmarking of South Korean Payment Cards, 2015

Table 5: South Korea – Mode of Entry of Foreign Banks

Table 6: Cards for High-Income Consumers, 2016

Table 7: Cards for Students and the Young Population, 2016

Table 8: Cards for Female Population, 2016

Table 9: Cards for Travelers, 2016

Table 10: Cards for Shoppers, 2016

Table 11: Commercial Card Comparisons and Key Features, 2016

Table 12: South Korea – New Product Launches

Table 13: South Korea – Debit Cards Comparison and Key Features, 2016

Table 14: South Korea – Premium Credit Cards Comparison and Key Features, 2016

Table 15: South Korea – Charge Cards Comparison and Key Features, 2016

Table 16: South Korea – Commercial Pay Later Cards Comparison and Key Features, 2016

Table 17: South Korea – Prepaid Cards Comparison and Key Features, 2016

Table 18: South Korea – Payment Instrument Transaction Values (KRW Trillion), 2011–2015

Table 19: South Korea – Payment Instrument Transaction Values (US$ Billion), 2011–2015

Table 20: South Korea – Payment Instrument Transaction Volumes (Billion), 2011–2015

Table 21: South Korea – Number of Payment Cards in Circulation by Type (Million), 2011–2020

Table 22: South Korea – Volume of Payment Card Transactions by Type (Million), 2011–2020

Table 23: South Korea – Value of Payment Card Transactions by Type (KRW Trillion), 2011–2020

Table 24: South Korea – Value of Payment Card Transactions by Type (US$ Billion), 2011–2020

Table 25: South Korea – Number of Debit Cards in Circulation (Million), 2011–2020

Table 26: South Korea – Debit Card Transaction Volumes and Frequency by Channel, 2011–2020

Table 27: South Korea – Debit Card Total and Average Transaction Values by Channel, 2011–2020

Table 28: South Korea – Debit Card Total and Average Transaction Values by Channel, 2011–2020

Table 29: South Korea – Number of Debit Cards in Circulation by Scheme (Million), 2011–2015

Table 30: South Korea – Debit Card Transaction Values by Scheme (KRW Trillion), 2011–2015

Table 31: South Korea – Debit Card Transaction Values by Scheme (US$ Billion), 2011–2015

Table 32: South Korea – Debit Card Transaction Values by Issuer (KRW Trillion), 2011–2015

Table 33: South Korea – Debit Card Transaction Values by Issuer (US$ Billion), 2011–2015

Table 34: South Korea – Number of Pay Later Cards in Circulation (Million), 2011–2020

Table 35: South Korea – Pay Later Card Transaction Volumes and Frequency by Channel, 2011–2020

Table 36: South Korea – Pay Later Card Total and Average Transaction Values by Channel, 2011–2020

Table 37: South Korea – Pay Later Card Total and Average Transaction Values by Channel, 2011–2020

Table 38: South Korea – Number of Pay Later Cards in Circulation By Scheme (Million), 2011–2015

Table 39: South Korea – Pay Later Card Transaction Values By Scheme (KRW Trillion), 2011–2015

Table 40: South Korea – Pay Later Card Transaction Values By Scheme (US$ Billion), 2011–2015

Table 41: South Korea – Pay Later Card Transaction Values by Issuer (KRW Trillion), 2011–2015

Table 42: South Korea – Pay Later Card Transaction Values by Issuer (US$ Billion), 2011–2015

Table 43: South Korea – Number of Credit Cards in Circulation (Million), 2011–2020

Table 44: South Korea – Credit Card Transaction Volumes and Frequency by Channel, 2011–2020

Table 45: South Korea – Credit Card Total and Average Transaction Values by Channel, 2011–2020

Table 46: South Korea – Credit Card Total and Average Transaction Values by Channel, 2011–2020

Table 47: South Korea – Number of Credit Cards in Circulation by Scheme (Million), 2011–2015

Table 48: South Korea – Credit Card Transaction Values by Scheme (KRW Trillion), 2011–2015

Table 49: South Korea – Credit Card Transaction Values by Scheme (US$ Billion), 2011–2015

Table 50: South Korea – Number of Charge Cards in Circulation (Million), 2011–2020

Table 51: South Korea – Charge Card Transaction Volumes and Frequency by Channel, 2011–2020

Table 52: South Korea – Charge Card Total and Average Transaction Values by Channel, 2011–2020

Table 53: South Korea – Charge Card Total and Average Transaction Values by Channel, 2011–2020

Table 54: South Korea – Number of Charge Cards in Circulation by Scheme (Thousand), 2011–2015

Table 55: South Korea – Charge Card Transaction Values by Scheme (KRW Trillion), 2011–2015

Table 56: South Korea – Charge Card Transaction Values by Scheme (US$ Billion), 2011–2015

Table 57: South Korea – Personal and Commercial Pay Later Card Transaction Volumes (Billion), 2011–2020

Table 58: South Korea – Personal and Commercial Pay Later Card Transaction Values (KRW Trillion), 2011–2020

Table 59: South Korea – Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2011–2020

Table 60: South Korea – Number of Commercial Pay Later Cards in Circulation (Million), 2011–2020

Table 61: South Korea – Commercial Pay Later Card Transaction Values (KRW Trillion), 2011–2020

Table 62: South Korea – Commercial Pay Later Card Transaction Values (US$ Billion), 2011–2020

Table 63: South Korea – Commercial Pay Later Card Transaction Volumes (Million), 2011–2020

Table 64: South Korea – Number of Prepaid Cards in Circulation (Million), 2011–2020

Table 65: South Korea – Prepaid Card Transaction Values (KRW Billion), 2011–2020

Table 66: South Korea – Prepaid Card Transaction Values (US$ Million), 2011–2020

Figures

Figure 1: South Korea – Payment Instrument Shares by Transaction Value (%), 2011 vs 2015

Figure 2: South Korea – Payment Instrument Shares by Transaction Volume (%), 2011 vs 2015

Figure 3: South Korea – E-Commerce Value (US$ Billion) and Payment Methods (%)

Figure 4: South Korea – Population and Economic Indicators

Figure 5: South Korea – Number of ATMs and POS Terminals, and Real Household Consumption

Figure 6: South Korea – Segmentation by Card Type, 2016

Figure 7: South Korea – Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2011–2020

Figure 8: South Korea – Volume and Value of Payment Card Transactions by Type (%), 2011–2020

Figure 9: South Korea – Debit Card Penetration and Number of Debit Cards in Circulation, 2011–2020

Figure 10: South Korea – Turnover Per Debit Card and Transaction Values by Channel, 2011–2020

Figure 11: South Korea – Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

Figure 12: South Korea – Pay Later Cards Penetration and Number of Pay Later Cards in Circulation, 2011–2020

Figure 13: South Korea – Turnover Per Pay Later Card and Transaction Values by Channel, 2011–2020

Figure 14: South Korea – Pay Later Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

Figure 15: South Korea – Pay Later Commercial vs Personal Cards, Transaction Volumes and Values (%), 2011–2020

Figure 16: South Korea – Number of Commercial Pay Later Cards in Circulation, Transaction Value and Volume, 2011–2020

Figure 17: South Korea – Number of Prepaid Cards in Circulation and Transaction Value, 2011–2020

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