| Mobile Web

Search results for card companies

Finance

Banks to ease conditions for discounted loan rates, recognise debit card spending the same

South Korea\'s Financial Supervisory Service said on Tuesday it will work with banks to improve how card spending is calculated for loan rate discounts and to narrow excluded items. Banks will provide clearer guidance in loan contracts and on digital channels, and notify long-term borrowers at least once a year. Exclusions will be cut to about 0 to 1 item per bank. Debit and credit card spending will be treated the same, and instalment payments will be counted monthly over the instalment period.

Telecommunications & Media

Central Radio Management Office cancels Onesetellink registration over failure to block voice phishing

The Central Radio Management Office under South Korea\'s Ministry of Science and ICT has cancelled the registration of telecom operator Onesetellink for failing to carry out corrective orders aimed at blocking voice phishing that impersonates public institutions. The office said Onesetellink did not implement caller ID spoofing prevention measures without justifiable grounds by the March 6 deadline. It also ordered user protection steps and said the company must notify subscribers promptly of service termination.

Finance

PG industry moves to jointly counter fraudulent payments to close gap missed by banks\' FDS

South Korea\'s payment gateway industry has moved to a joint response after a security gap emerged in which suspicious transactions that pass financial firms\' fraud detection systems are not blocked at the PG stage. The Financial Supervisory Service and the Korea Fintech Industry Association launched an online fraudulent payment response consultative body on Tuesday with major PG firms, the Financial Security Institute and experts. The body will share cases, draft standard guidelines by November and link them with supervision.