Kbank said on March 26 it has launched a business partner information search service for sole proprietors. Developed in collaboration with NICE Information Service, the service allows self-employed people and small business owners to check a partner company’s information and credit standing. Users can search by company name, representative name or business registration number. The tool provides real-time key credit data, including a transaction safety index, plus alerts and monthly reports.

South Korea\'s financial authorities said expanded disclosures by 17 electronic financial firms showed average payment fee rates fell versus the prior disclosure period. The authorities split out external fees paid to card issuers and fees retained by e-finance firms to improve transparency. They said some firms do not apply lower rates to smaller merchants and in some cases charge higher rates, raising questions over whether guidelines aimed at easing burdens on micro and small merchants are working.