Sales at South Korean small merchants made with cards issued overseas rose about 9.6 times over the past 3 and a half years, Korea Credit Data said. The share of foreign-issued cards in small merchants’ card sales climbed to 1.2 percent from 0.2 percent. Spending was concentrated in Seoul and in certain sectors, with the top 1 percent of stores accounting for 66.9 percent of foreign card sales.

Major fintech firms posted strong first-half results as growth in payments and financial services lifted revenue and profit, with overseas payments and new businesses also expanding. Payment companies are widening links into daily life through merchants, local currencies and transport, while firms bundle payments with other services. As businesses grow, demands for soundness management rise. Separately, there are signs of partial adjustments to loan regulations, while bank lending volume controls continue.