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Electronic Payment

The Electronic Payment Service provides banking customers with various financial transaction services such as cash withdrawal and fund transfer, as well as financial transaction information.

CD Network

The Cash Dispenser (CD) Network enables customers with cash cards, debit cards or credit cards to use cash deposit/withdrawal, account transfer, balance inquiry, and cash advance services at CD/ATMs. Customers may access their accounts from any CD/ATM regardless of their main bank. When the CD Network was first implemented, CD/ATMs were operational only during banking hours. Much has changed since then, and today, CD/ATMs are accessible 24/7. In addition, the protocols of CD/ATMs and mobile phones were standardized, allowing customers to use CD/ATMs of any bank to deposit or withdraw cash, make fund transfers, and inquire after their account balances in all banks by using their mobile phones.

IFT Network

KFTC operates the Interbank Fund Transfer(IFT) Network to allow the sender to use any financial institution branch around the country to send funds to the receiver’s financial institution regardless of the financial institution the sender actually trades with. Services provided through the IFT Network include cash transfers, cashier’s check transfers and its problem inquiries.


The Interbank Home/Firm Banking Network (HOFINET) started off as an Automated Response Service (ARS) Network in April 1989, and intermediary electronic banking functions such as Internet, phone, and mobile banking service functions were added to create HOFINET. Thus, services available through HOFINET consist of customer services originally offered through the ARS Network and home/firm banking intermediary services such as phone banking. The customer service offers transaction confirmation inquiry through phones or computers. When using phones, customers can access the services by calling the ARS number 1369 anytime and anywhere.


The Local Bank Information Network (BANKLINE) is a network that allows customers of local banks to use BANKLINE accounts at all local bank branches. The network enables local banks without their own national network to provide services to customers around the country. Six local banks, Daegu, Busan, Kwangju, Jeju, Jeonbuk and Kyongnam, are participating in the BANKLINE system.


BANKPAY is a payment gateway service which mediates payment information, enabling customers involved in electronic commerce to pay sellers via an account transfer. BANKPAY plays a pivotal role as a payment system for major e-government websites, including the Internet registration service of the Supreme Court, the G4C service of the Ministry of Public Administration and Security and the G2B system of the Public Procurement Service, as well as many cybermalls in Korea, including Auction, 11th Street and Interpark. BANKPAY operates 24 hours a day, 365 days a year. Users are also allowed to access the service on smartphones via the “Joint-bank Mobile PG Service for Account Transfer” application.

CLS Network

The Continuous Linked Settlement (CLS) Network was designed process FX and nondeliverable forwards transactions Korean CLS participants submit to CLS Bank International by linking local foreign exchange banks with CLS Bank international. Currently, the types of transactions this system processes include FX spot, NDF transactions and FX swap transactions in a total of 17 currencies.

CLS Bank International was established in the United States by major financial institutions around the world in 1999 according to the advisory of the Bank for international Settlements(BIS) to reduce the FX settlement risks by settling FX trades in the time sessions when the real-time gross settlement systems for all the 17 CLS currencies are operational.

Extended Korea Payment Network (ExK)

Extended Korea Payment Network(ExK) links domestic and overseas payment and settlement networks to allow customers of domestic banks to use payment services in other countries. Services currently offered include cash withdrawal and balance inquiry through overseas ATMs. These services will be expanded to include credit and debit card payments at the point of sale, cross-border remittances and account-to-account transfers. ExK services are currently available in the United States, the Philippines, Malaysia, Vietnam and Thailand, but more countries are expected to be added to the service partnership in the near future.

Electronic Payment for Supplied Goods

The electronic payment service for supplied goods can be used when retailers pay wholesalers using exclusive debit card for purchase. The payment is completed through account transfers. This B2B payment service is often used to pay for alcohol or grain.

Cash Card Network

KFTC operates the Cash Card Network to allow customers to use the cash cards that they use with CDs/ATMs to pay for goods and services. The cash card boasts excellent security through the use of embedded IC chips, and member stores also benefit from the early settlement of money from sales and low commissions. Stores that accept cash cards are increasing through VAN terminal providers that manage the infrastructure.

Foreign Currency Transfer Service in Korea

KFTC offers a Foreign Currency Transfer Service in Korea to allow customers holding funds in foreign currency to send the funds from a domestic financial institution to the receiver’s account in domestic financial institution in real time and inquire into the results of the transfer immediately. This service covers 21 currencies, including US dollars (USD), Euros (EUR), and Yen (JPY).