Foreign credit card transactions on Seoul's subway reached 180,000 in September, up 13.2% from June; Seoul Station and Hongik University Station ranked first and second by combined foreign card and mobile payment volume
Foreign credit card payments on Seoul's subway are on the rise. The service, introduced in March, recorded about 180,000 transactions in September, a 13.2% increase from June.
Building on that growth, Seoul Metro added American Express (Amex) as an accepted payment method Oct. 1 to further expand payment options for riders.
Seoul Metro's analysis of foreign credit card and mobile payment usage found that foreign card transactions totaled 179,483 in September — an average of 5,983 per day — up 13.2% from 158,553 in June (a daily average of 5,285). The total transaction value also rose 14.5% over the same period, from about 822.98 million won ($613,000) to about 942.46 million won.
Seoul's subway foreign credit card and mobile payment service launched in March.
Combined foreign card and mobile payment transactions reached 253,566 in September, averaging about 8,452 per day. Mobile payments, however, fell 23.8% — from 97,280 in June to 74,083 in September — moving in the opposite direction from foreign card usage.
Unlike foreign credit cards, mobile payment services are widely used by domestic riders as well, and the decline is attributed largely to a drop in top-up demand following the end of the 30-day Climate Card subscription.
By station, Seoul Station and Hongik University Station ranked first and second in combined foreign card and mobile payment volume in both June and September. Both are major transfer hubs connected to the Airport Railroad, making them highly accessible to domestic and international travelers alike.
Seoul Station stood out in particular: foreign card transactions there rose 30.4%, from 21,351 in June to 27,835 in September. The transaction value climbed 32.0% over the same period, from about 108.51 million won to about 143.19 million won, outpacing the overall growth rate for foreign card payments across the network.
The top five stations by foreign card transaction value in September were Seoul Station, Hongik University Station, Myeong-dong Station, Dongdaemun Station and Euljiro 1-ga Station.
To further improve payment convenience for foreign tourists and other riders, Seoul Metro added Amex to its lineup of accepted foreign credit cards on Oct. 1. The move expanded the number of foreign card brands available at ticket kiosks from four — Visa, Mastercard, JCB and UnionPay — to five.
Ma Hae-geun, head of Seoul Metro's business division, said foreign card payment figures are growing and the new payment options are becoming a genuine choice for subway riders. "We will continue to closely monitor the diverse payment needs of our users and improve the payment environment so that both Seoul residents and foreign tourists can use the subway with ease," he said.
seouldream01@heraldcorp.com
