Financial Services Commission at the Seoul Government Complex in Jongno-gu, Seoul. Newsis
[파이낸셜뉴스] The Financial Services Commission designated nine new innovative financial services, including deposit token-based payment and transfer services within the central bank digital currency (CBDC) system, at its regular meeting on the 30th. As a result, a total of 384 services have been designated as innovative financial services to date.
First, seven banks, including KB Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, Small and Medium Business Bank, NH Nonghyup Bank, and Busan Bank, applied for deposit token-based payment and transfer services within the newly designated central bank digital currency (CBDC) system. . Seven designated banks can open electronic wallets with real names to users within the CBDC system that is scheduled to be built according to the ‘CBDC usability test plan’ announced by the Bank of Korea in October last year.
In addition, payment and settlement functions can be provided to purchase goods and services at the point of use through a tokenized payment method based on bank deposits (hereinafter referred to as ‘deposit token’).
This service is expected to confirm the possibility that payments based on distributed ledger technology, such as automation of transaction processes and efficiency of payment processes, can contribute to financial service innovation.
‘My Data Utilizing Stock-Secured Loan Switching Service’ is a service that allows investors using stock-backed loans from other securities companies to switch stock-backed loans if the interest rate conditions of a company designated as an innovative financial service (Hanwha Investment & Securities) are more favorable. . The designated company conducts a credit evaluation on the investor, checks the status of the investor’s collateral stocks from other companies through My Data, and then examines whether or not a loan is possible and the amount that can be loaned.
It is expected that consumers will be able to convert to loans without having to sell collateral stocks or borrow funds temporarily from a third party lender to repay existing stock-backed loans.
‘Family card service for minor children‘ is a service applied for by NH Nonghyup Bank, which provides a credit card (family card) that minor children (age 12 or older, middle and high school students) can use within the limit of their parents’ credit card. The main content is to issue and use it.
The explanation is that by expanding the family card issuance target to those aged 12 and older, the convenience of financial transactions for minors will be improved and credit card transfer and lending practices will be improved. However, it was designed to prevent consumer damage by limiting the type of business and usage limit and notifying children of their child’s card use details.
In addition, the Financial Services Commission added regulatory special provisions to the existing insurance product comparison and recommendation service for information sharing between the Korea Insurance Development Institute and applicants (applicable to only 7 of the existing 11 companies), and added additional conditions to ensure that consumers can compare various insurance products. (Consumer’s vehicle information, existing insurance contract expiration date, etc.) were included.
Naver Pay users’ prepaid recharge is stored in a Hana Bank affiliated account (in the user’s name), and prepaid is automatically recharged from the affiliated account every time a payment is made through Naver Pay. The designated period for the ‘Pay Money Passbook service’ begins on the 3rd of next month. It has been extended by two years until November 2026.
When recruiting credit card merchants, the ‘non-face-to-face credit card merchant subscription service for small business owners’, which carries out the sign-up process by uploading necessary supporting materials to a mobile app without visiting the business, visits the business of the person who wants to become a credit card merchant, checks whether it is open, etc. Requests for improvements to regulations that must be checked were also accepted. The Financial Services Commission plans to begin revising the credit-specialized financial business laws and regulations so that this service can be operated without special provisions, and the designation period for this innovative financial service will expire until the legal amendment work is completed (maximum 1 year and 6 months). We plan to continue providing the service as it is deemed not to have been completed.
[email protected] Reporter Kim Ye-ji
