1st Edition

Digital Payments and the Cashless Economy Perspectives from Korea

By Woosik Moon Copyright 2026
246 Pages 80 B/W Illustrations
by Routledge

246 Pages 80 B/W Illustrations
by Routledge

Against the backdrop of high Internet penetration and smartphone use, coupled with the widespread diffusion of credit cards, Korea has been leading the digital payment revolution, transforming itself into a cashless society. Woosik Moon analyses the current and future development of digital payments and methods in Korea, ranging from CBDC, Internet banking, payment cards, and digital wallets to... Read more

Introduction 1.The Digitalisation of the Payment and Settlement System 2. Central Bank Digital Currency 3. Account Transfer and Digital Banking 4. Payment Cards 5. Online Investments and De-materialisation 6. The Digital Wallets of Non-financial Firms 7. Crypto-Assets and Tokens. Conclusion: Digital Currency and a Cashless Society

Biography

Woosik Moon is currently Professor of Economics at the Graduate School of International Studies (GSIS), Seoul National University (SNU). He was a member of the Monetary Policy Board, Bank of Korea, from April 2012 to April 2016. His main area of expertise is monetary economics, international finance, and monetary integration. His most recent publications include Monetary Policy and Central Banking in Korea (Cambridge University Press 2022) and Economic Policy and the Covid-19 Crisis (Routledge 2022).