Shinhan Card Achieves 1 Trillion KRW in Touch Payment Usage for Simple Payments

Shinhan Card announced on the 18th that its mobile offline simple payment service, 'Shinhan pLay Touch Payment,' has reached a cumulative transaction amount of 1 trillion won.

[Asia Economy Reporter Oh Hyung-gil] Shinhan Card announced on the 18th that its mobile offline simple payment service 'Shinhan pLay Touch Payment' has reached a cumulative usage amount of 1 trillion won.

The Touch Payment service uses a magnetic field transmission method and is available at all offline merchants where magnetic payment is possible without a physical card through the Shinhan pLay application.

More than 1.5 million transactions occur monthly, and the MZ generation accounts for 50% of all users, making it a representative service that demonstrates Shinhan Card's digital competitiveness.

Shinhan Card also introduced the world's first iPhone Touch Payment following Android phones. For iPhones, if a wallet or case that supports Touch Payment is attached, payment can be made at all offline merchants with the card registered in the app.

The iPhone Touch Payment wallet, enhanced in design and functionality as a 2nd generation product, will be released on the 20th. It will be sold exclusively on the Shinhan Card shopping mall, and it is expected to expand the user base further.

A Shinhan Card official said, "We are grateful that the Touch Payment service has established itself as a beloved offline payment service among customers," adding, "We will lead innovation in the payment environment this year to improve customer convenience in line with 'easier, more comfortable, and newer finance,' including improving accessibility of the Touch Payment service and launching new iPhone Touch Payment wallet products."