Most colleges refuse to accept credit card payments

/ Korea Times file

More than six in 10 colleges do not accept credit card payments for tuition, according to the credit card sector.

Only 164 of 423 colleges in Korea, or 38 percent, accept credit cards for payment.

Several colleges have not allowed students to pay this way because of the high commissions they have to bear.

“If my college accepts credit cards, which allow payments made in installments, the tuition would not come as a huge burden for me,” said a college senior at Hankuk University of Foreign Studies.

But it remains to be seen whether more colleges will accept credit card payments.

“All the parties concerned, including card companies, colleges and parent groups, have conflicting interests,” a credit card industry official said.