Card spending in S. Korea down amid COVID-19 outbreak
Updated: 2020-07-14 13:52:51 KST
With more people staying home because of the pandemic, South Korea has seen a decline in card spending.
According to the Bank of Korea, payments made with cards in the period from February to May fell two.one percent compared to the same period last year.
This is only the fourth time card spending has seen an on-year drop since records began in 2003.
Spending on credit cards was down 3.8 percent, and on debit cards zero.one percent.
But prepaid card spending rose almost ten fold because prepaid cards is how the government issued people their relief money.