South Korea's Internet banking service rose at a fast clip in the third quarter with both the number of users and daily transactions reaching record highs, central bank data showed Wednesday.

In the three months ended Sept. 30, the number of Internet and mobile banking service users came to 120.7 million, up 1.4 percent from the previous quarter, according to the data from the Bank of Korea (BOK).

The number is the sum of all registered users of 16 Internet and mobile banking service providers in South Korea, including commercial banks.

The average number of daily transactions processed via the Internet, mobile and smartphones came to 87.9 million in the third quarter, up 1.9 percent from the previous quarter, while the average amount of money processed through such means dropped 1.7 percent to 41.65 trillion won ($35 billion).

The number of daily transactions processed via smartphones jumped 2 percent on-quarter to more than 53.8 million, with the amount of daily transactions also surging 4.3 percent to 3.17 trillion won over the cited period, according to the BOK.

The number of smartphone-based banking service users rose 3.2 percent from three months earlier to 72 million as of end-September.

South Korea has a population of 51 million, but some people have multiple smartphones.

The BOK said 42.7 percent of South Korea's Internet banking service is used for depositing, withdrawing or remitting money. (Yonhap)