South Korea has one of the highest average internet speeds in the world, and 100% of their population between ages 25 and 34 log on daily. According to the press release, with over EUR 22.8 billion in annual ecommerce spending, fashion is the leading product category, with about EUR 6.2 billion of the annual market share, followed by toys and hobby items.
Allied Wallet is now compatible with several new payment options – including ShinhanCard, T-Money, and Toss – in South Korea to better connect online businesses and their customers.
T-Money is typically used as a transit card, but it is also used to shop online, as railway networks and metro lines in South Korea are connected with Wi-Fi, giving passengers the possibility to use their smartphones. ShinhanCard is one of the most popular credit card issuers in South Korea, with over 12 million users. Toss is a digital wallet service with over 6 million users, allowing them to pay in store, shop online, or send money to friends and family.
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