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E-payment Becoming Common in N. Korea

News2017-07-20
E-payment Becoming Common in N. Korea

A pro-North Korean newspaper reports that electronic payments are becoming more common in North Korea.
  
In a report published Wednesday about a newly renovated mineral water store in Pyongyang, Japan-based Choson Sinbo said that about ten credit card readers were installed for customers.
  
North Korea’s state-owned Foreign Trade Bank first launched an electronic credit card payment service in December 2010. The e-payment system was limited to mobile phone vendors at the time but has gradually expanded to replace cash at other stores.
  
Check cards of Narae, Geumgil and Koryo are mainly used in the North. But a credit card called Seonbong is in use for foreigners in its Rason free economic zone.

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