[THE INVESTOR] Mobile banking in South continued to grow quickly in the second quarter, with the daily average transaction volume exceeding 3 trillion won (US$2.70 billion), central bank data showed Aug. 9.
The daily transaction volume rose 6.3 percent on-quarter to 3.78 trillion won during the April-June period, according to the Bank of Korea.
It topped 2 trillion won just one and a half years ago, indicating that mobile banking is rapidly expanding in the tech-savvy nation.
A total of 73.6 million people were registered for mobile banking service as of the end of June, up 2.3 percent from three months earlier. South Korea has a population of 50 million but many people have multiple bank accounts.
Total smartphone banking usage also jumped 3.4 percent to 52.7 million actions a day, 92 percent of which was to check account balances.
