South Korean Won

Toss Pay is the payment product of Viva Republica, operator of the Toss super-app — South Korea's largest fintech platform with over 30 million registered users. Toss started as a peer-to-peer bank transfer app and has expanded into cards, investments, insurance, and merchant payments. Toss Pay is one of the fastest-growing checkout options among South Korean online retailers and is especially popular with the 20–40 age demographic.

Zero Pay is a government-backed QR code payment scheme launched in 2019 to support small merchants by eliminating card processing fees (or reducing them to near-zero). It is operated through a consortium of banks and fintech apps — including KakaoPay, Naver Pay, and Samsung Pay — and uses a common QR standard. While adoption has been uneven, Zero Pay provides a low-cost alternative to card acceptance for smaller Korean businesses.

PayCo is a digital wallet operated by NHN (formerly NHN Entertainment / NHN Commerce), one of South Korea's major internet companies. It enables card-linked online payments, loyalty point integration, and offline NFC payments. PayCo has significant user penetration through NHN's game and commerce platforms and is accepted by a broad range of South Korean online merchants.

Samsung's smartphone wallet supporting tap-to-pay and online payments, widely used in Korea. Operator: Samsung Electronics Co., Ltd.. Est. users: Tens of millions of users (2024).

Naver's dominant online checkout and points-based payment service across Korean e-commerce. Operator: Naver Financial Corporation. Est. users: 30 million+ users (2024).

South Korea's leading wallet built into KakaoTalk for online and offline payments and transfers. Operator: Kakao Pay Corporation. Est. users: 24 million active users (2024).

Shinsegae Group's wallet for payments across its online and offline retail network. Operator: Shinsegae I&C (Shinsegae Group). Est. users: Millions of users (2024).

KB Kookmin Bank is South Korea's largest bank, part of KB Financial Group, offering retail, corporate, and investment banking.

Shinhan Bank is part of Shinhan Financial Group, one of South Korea's leading banks with retail, corporate, and investment banking operations across Asia.

Hana Bank is part of Hana Financial Group, one of South Korea's top banks, known for its international reach and foreign exchange operations.

Woori Bank is one of South Korea's largest banks, offering retail, corporate, and investment banking with a strong presence in Southeast Asia.

Aggregate of remaining banks in South Korea, collectively ~26.8% of domestic banking assets.