Alipay, China's leading third-party online payment solutionAlipay, China's leading third-party online payment solution

South Korean Cards

Credit cards have been a common payment method in South Korea since the 1960s, and remain the preferred payment method today, accounting for more than 50% of the online e-commerce payment volume. In a country where 95% of the population holds bank accounts and a credit card penetration rate surpasses 60%, accepting South Korean card payments enables you to reach nearly the entire population of over 50 million.

Supported card brands

In contrast to international cards, the majority of South Korea's local cards are issued by nine primary companies. Prominent brands include Shinhan, BC, Samsung, KB, Hyundai, Lotte, NH, Hana, and Woori. Of the over 110 million cards issued locally, single-badged cards account for around 45%, while co-badged cards, which also display international card scheme logos, make up approximately 55%. Antom's solution supports both single-badged and co-badged local cards.

The following are all supported South Korean local card brands:

  • Shinhan Card, Hyundai Card, Samsung Card, Lotte Card, Hana Card, KB Kookmin Card, BC Card, NH Nonghyup Card, Woori Card, IBK B.C., Gwangju Bank, KDB Industrial Bank, Saemaeul Geumgo, Shinhyeop, Citi Card, Post office deposit insurance, Korea Federation of Savings Banks, Jeonbuk Bank, Jeju Bank, Kakao Bank, K Bank, Toss Bank, SH Suhyup Bank.

Properties

The following table lists the product properties supported by South Korean Cards:

Availability

Product type

Non-authentication payment

Issuer-authentication payment

Acquirer

AlipaySG, AlipayUS, AlipayUK, AlipayEU

AlipaySG, AlipayUS, AlipayUK, AlipayEU

Acquiring region

SG, HK, AU, US, UK, EU

SG, HK, AU, US, UK, EU

Buyer country/region

South Korea

South Korea

Merchant business type

Non-high risk business types

(such as general e-commerce)

All business types

(including high-risk industries such as game/charging merchants are required to integrate this product)

Product features

Payment type

CARD

CARD

Card brand

Support all South Korean local card brands, see the Card brands for details

Card type

All local card types

All local card types

Payment flow

Direct

Redirect

Payment completion

Real-time

Real-time

Processing currency

KRW

KRW

Other

3D

✔️

Authorization validity period

7 days

7 days

Minimum transaction amount

Refer to the Transaction limit table for the default limit setting.

Maximum transaction amount

Checkout Payment

✔️✔️

Auto Debit

Multiple partial captures

Partial capture

Overdraft capture

Refunds

✔️✔️

Partial refunds

✔️✔️

Chargeback/Dispute

✔️✔️

Refund period

365 days

365 days

Recurring

Installment

✔️✔️

Installment description

Amount > 50000 krw;

Plan supports 2-12 month for all card brands

Amount > 50000 krw;

Plan supports 2-12 month for all card brands

Installment interest payer

Users.

Card issuers provide monthly interest-free promotions. See the installment information below.

Users.

Card issuers provide monthly interest-free promotions. See the installment information below.

[1] For the two payment flows for South Korean Cards, refer to User experience for more details.

Transaction limit

Card brands

Single transaction limit

No. of daily transactions

Daily limit

Monthly limit

Top-up

Gaming

Top-up

Gaming

Top-up

Gaming

Top-up

Gaming

Kookmin

N/A

N/A

N/A

N/A

N/A

200,000

1,000,000

N/A

BC

N/A

50,000

N/A

4

N/A

200,000

N/A

10,000,000

NH

100,000

100,000

10

10

500,000

500,000

N/A

N/A

Lotte

N/A

N/A

N/A

N/A

500,000

500,000

N/A

N/A

Hana

N/A

100,000

N/A

6

N/A

300,000

N/A

N/A

Samsung

N/A

500,000

N/A

N/A

50,000

500,000

N/A

N/A

Shinhan

N/A

N/A

N/A

N/A

50,000

50,000

N/A

N/A

Hyundai

N/A

110,000

N/A

5

N/A

550,000

N/A

N/A

Woori

50,000

50,000

4

4

200,000

200,000

N/A

N/A

[1] Note that card issuers might change this limit according to different internal policies.

User experience

Antom offers two types of payment flows for South Korean Cards:

  • Issuer-authentication payment: Users are redirected to the bank page of the chosen issuer to complete the payment. Payment is completed via different processes, such as scanning a QR code, or inputting card or bank account information, depending on the particular bank's capabilities. You are required to provide these payment flows for categories such as gaming and top-up or charging services.
  • Non-authentication payment (Key-in): Users need to manually key in their card details as per a standard card payment process.

Note: For South Korean Cards-installment function, merchants can design how to show 2-12 installments for users, or merchants can redirect users to Ant's middle page for users to choose 2-12 installments. When users choose a specific installment plan, the common practice in the Korean market is that merchants do not show users the corresponding plan's interest rate on the checkout page. Instead, Korean users can check their interest fees on the card issuers' monthly bills or statements.

The following figures show the journey of paying with South Korean Cards in different scenarios.

Issuer-authentication payment

This section shows the user experience of API-only integration under the issuer-authentication payment.

Bank list provided by merchant

image.png

  1. Users select a bank.
  2. The bank page is to be opened and presents available authentication methods.[1]
  3. Users choose an authentication method to proceed.
  4. The QR code and payment code are to be displayed on the page for users to scan or input within a mobile app.
  5. Users select a card within the app, complete user authentication, and confirm payment.
  6. Users are redirected to the merchant site and are notified of the payment result.

[1] Different banks may offer different authentication methods, including card number with password, the pre-installed mobile bank app, CVC, SMS OTP, ARS authentication, etc, based on the options that banks provide to users. ARS authentication is an authentication method that involves providing users with a PIN code over a phone call.

Bank list provided by Ant

image.png

Non-authentication payment

This section shows the difference of user experience between API-only and SDK integration under the non-authentication payment.

API-only integration

For API-only integration, the user experience of paying with South Korean Cards between the first-time and subsequent payments is different.

First-time payment

The following figures show the user experience of first-time payment for corporate and individual cards under PCI and non-PCI qualified conditions.

  • PCI qualified (Corporate card)

image.png

  • PCI qualified (Individual card)

image.png

  • Non-PCI qualified (Corporate card)

image.png

  • Non-PCI qualified (Individual card)

image.png

Subsequent payments

The following figures show the user experience of subsequent payments under PCI and non-PCI qualified conditions.

  • PCI qualified

image.png

  • Non-PCI qualified
image.png

SDK integration

For SDK integration, the user experience of paying with South Korean Cards between the first-time and subsequent payments is different.

First-time payment

The following figures show the user experience of first-time payment for corporate and individual cards.

  • Corporate card
image.png
  • Individual card
image.png

Subsequent payments

image.png

South Korean Card issuers' interest-free installment information

Interest-Free installment (Transactions over 50,000 KRW)

Card issuerInstallment monthsRemarksApplicable targets
Samsung2~5*Home shopping/tax/hospital industries are excludedOnline PG Service
Lotte*Debit, prepaid, corporate, gift cards are excluded
Shinhan*Tax (national/local) industries are excluded
BC*National/local taxes, property insurance, department stores, travel, academies/education are eligible for 2-3 months
Kookmin*Debit, business, BC, and prepaid cards are excluded
Woori*Debit, corporate, gift cards are excluded
*Cars, used cars, gift voucher, national tax, local tax, and insurance are excluded
Hyundai2~3Transaction over 10,000 KRW are eligible for interest-free installment
(in some cases over 50,000 KRW are eligible)     
*Gift voucher, home shopping, pharmaceuticals, and etc. are excluded
Jeonbuk /
Hana*Hypermarket, airlines, duty-free shops, travel agencies, pharmacies are eligible for 2-3 months
*Property insurance, taxes, academies, outlets/large shopping center are excluded
Nonghyup2~4*Sports/leisure goods, automobile maintenance/repair, etc. are eligible for 2-3 months
*NH Hanaro mart, hypermarket, insurance are eligible for 2-3 months
Gwangju2~7 /

Partial interest-Free installment (Purchases over ₩50,000)

Card issuerInstallment monthsCharged to customerFree for customer
Samsung71~3 month4~7 month
111~5 month6~11 month
Kookmin61~3 month4~6 month
101~5 month6~10 month
Shinhan101~4 month5~10 month
121~5 month6~12 month
BC101~3 month4~10 month
121~4 month5~12 month
Woori101~3 month4~10 month
121~4 month5~12 month
Hana61~3 month4~6 month
101~4 month5~10 month
121~5 month6~12 month
Nonghyup4~61~2 month3~6 month
7~101~3 month4~10 month
Jeonbuk4~91 time2~9 month
10~121~2 month3~12 month
  • Period: 07/01/2024 ~ 07/31/2024
  • Even if “FREE Installment” is displayed on the payment window, excluded cards and industries are not eligible.
    Depending on the card issuer's policy, debit, prepaid, and gift cards may be excluded from interest-free installments.
  • In cases of NH Nonghyup Card's if the benefits from "Interest-Free Installment" and "Partial Interest-Free Installment" can be both applied, more beneficial one would be applied.
  • Corporate/business/check/prepaid/gift/hybrid cards, and some bank-affiliated BCcards may be excluded.
  • BC card covers personal credit payments for Woori, IBK, NH, SC, Daegu, Busan, Gyeongnam, Shinhan, Hana, KB, Citi BC(excluding Citi Visa), and Suhyup. For interest-free payments from other issuers, inquiries should be made to the individual issuer.
  • Suhyup BC has been eligible for BC Card's "Interest-Free Installment" since 03/01/2024. However, Suhyup BC is excluded from BC Card's "Partial Interest-Free Installment."
  • For cards issued by Citi card, "Interest-Free Installment" will not be provided in 2024. For Citibank BC cards, "Interest-Free Installment" will be provided according to the policies of BC cards.
  • Interest-free benefits are provided for e-commerce PG industries. However, benefits may be restricted for other industries (such as vouchers, refunds, medicine, pharmaceuticals, academies, duty-free shops, insurance, car rentals, airlines, local tax payments, etc.).
  • Some merchants directly contracted with card issuer, new merchants, public institutions, and certain offline payments are excluded from eligibility. However, Paynow Biz are eligible for interest-free installment.
  • This event may change or discontinue depending on the card issuer’s decision.

Note: These information will be updated monthly and might change according to each card issuer's own policy.