By Choi Kyong-ae
The number of the country's Internet banking users exceeded 115 million as of September as customers increasingly conduct financial transactions on their mobile devices, the Bank of Korea (BOK) said Monday.
Customers who have their accounts in several banks or other non-banking financial institutions ― so-called overlapping customers ― pushed up the combined figure in a country with a mere 50 million population, the BOK said.
As of the end of September, Korea's Internet banking service subscribers totaled 115 million, up 1.8 percent from the end of June. Nearly half of them are active users, it said.
Of the total subscribers, smartphone-based mobile banking service users accounted for 60.08 million, or 52 percent, up 4.4 percent during the same period last year.
"The number of mobile banking users has been rising, but that of personal computer-based Internet banking users has been gradually declining since the first half of 2012," a BOK official said.
Korea's penetration rate for smartphones among mobile-phone users went over 70 percent in June last year, according to the Ministry of Science, ICT and Future Planning.
The country's mobile phone penetration rate topped 100 percent in 2010, meaning that there are more phones in use than people. The rate continued to rise to 111 percent at the end of 2013, ministry data revealed.
"As banks concentrate on increasing mobile banking services, Internet banking users are expected to rise further in Asia's fourth-biggest economy," the official said.
The number of the country's Internet banking users exceeded 115 million as of September as customers increasingly conduct financial transactions on their mobile devices, the Bank of Korea (BOK) said Monday.
Customers who have their accounts in several banks or other non-banking financial institutions ― so-called overlapping customers ― pushed up the combined figure in a country with a mere 50 million population, the BOK said.
As of the end of September, Korea's Internet banking service subscribers totaled 115 million, up 1.8 percent from the end of June. Nearly half of them are active users, it said.
Of the total subscribers, smartphone-based mobile banking service users accounted for 60.08 million, or 52 percent, up 4.4 percent during the same period last year.
"The number of mobile banking users has been rising, but that of personal computer-based Internet banking users has been gradually declining since the first half of 2012," a BOK official said.
Korea's penetration rate for smartphones among mobile-phone users went over 70 percent in June last year, according to the Ministry of Science, ICT and Future Planning.
The country's mobile phone penetration rate topped 100 percent in 2010, meaning that there are more phones in use than people. The rate continued to rise to 111 percent at the end of 2013, ministry data revealed.
"As banks concentrate on increasing mobile banking services, Internet banking users are expected to rise further in Asia's fourth-biggest economy," the official said.
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