Central Banking

BOK to introduce cyber credit card in October

SOUTH KOREA - The Bank of Korea (BOK) is moving to introduce an online cyber credit card which will be available in October this year.

According to the BOK yesterday, the central bank's information technology (IT) promotion committee has decided to introduce a virtual purchase card system as a joint venture among banks and to put the new system in operation from October.

The new online credit card can be used only on the Internet, and policies concerning user IDs, card numbers and expiration pe