Tag - Card-based spending jumped 8.8% in 2015

Card-based spending jumped 8.8% in 2015

Korean credit and debit card spending jumped 8.8 percent last year from a year earlier as consumers increasingly favor using cards both for small-sized daily settlements and big tax payments, government data showed Tuesday. The card-based expenditure reached 667.1 trillion won ($572 million) in 2015, up from 613.2 trillion won the previous year. A 16 percent increase in debit, or check, card spending outweighed a 7.1 percent rise in credit card spending last year, the Financial Supervisory Service (FSS) said [...]