Internet banking use jumps 18% in 2021 amid pandemic

✔ Fact Checked by TDPel News Desk

By Pelumi Emmanuel

Published: March 28, 2022 | 8:14 AM GMT

South Koreans’ use of internet banking services soared 18 percent on-year in 2021 as customers preferred contactless services amid the coronavirus pandemic, central bank data showed.

The daily use of online banking services, including mobile banking, reached 17.32 million cases last year, up from 14.68 million a year earlier, according to the data from the Bank of Korea.

Mobile banking use came to 14.36 million instances per day, up 22.9 percent from a year earlier and accounting for nearly 83 percent of the total.

The value of daily transactions via online banking stood at 70.6 trillion won ($58.6 billion), up 19.6 percent from a year earlier. (Yonhap)

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About Pelumi Emmanuel

Pelumi Emmanuel is an accomplished writer and journalist with over 15 years of experience in the industry. He is a passionate and dedicated professional who is committed to producing high-quality content that informs, engages, and entertains readers. Pelumi’s love for reading and writing is evident in his work, which has been read worldwide and has garnered him a loyal following. His journalistic expertise is matched only by his natural talent for storytelling, making his articles both informative and engaging. He lives in California, USA.