In a recent article published by The Paypers, Lindsay Lehr, Managing Director at PCMI, delivers a comprehensive analysis of South Korea’s digital payments and e‑commerce landscape in 2025.

This is an excerpt from the article regarding RTP and fintech development:

With an RTP system launched nearly 40 years ago, it’s clear that South Korea’s payments industry has generally been tech-forward, and this continues.

For example, it’s estimated that there are over 800 fintech startups in South Korea. Beyond the powerful market demand for digital payments, government support has directly encouraged fintech development. Between 2020 and 2023, South Korea’s Financial Services Commission (FSC – a government agency with authority over financial policy in the country) supplied USD 207 million in investment to 85 fintech startups. Next, the FSC plans to raise USD 368 million between 2024 and 2027, much of which will be used in fintech startup investment. 

Highlights from her report also include:

• Minimal use of cash: only 7% of POS transactions were cash-based in 2024, underscoring South Korea’s fully digital-first approach.

• Mobile-driven commerce: mobile devices accounted for 75% of online purchases in 2024.

• Real‑time payments ubiquity: South Korea’s RTP system, in place since 1988, processed 9.1 billion transactions in 2023.

• Growth outlook: while reflecting market maturity, the industry is still projected to grow 6.84% between 2025 and 2033, with digital payments rising from USD 3.54 billion in 2024 to USD 17 billion by 2035.

Read the full analysis in The Paypers: South Korea: 2025 analysis of payments and ecommerce trends.

Lindsay Lehr

Managing Director

Lindsay Lehr is the Co-Founder and Managing Director of PCMI. With 15 years’ experience, Lindsay is specialized in the region of Latin America, executing over 400 consulting engagements for Fortune 500 clients in the region.

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📬 Contact for press: Valentina Duque at vduque@americasmi.com

PCMI Payments and Commerce Market Intelligence

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