Toss Bank Surpasses 10 Million Debit Card Holders... 'Transportation' Accounts for 24% of Payments

As of the end of June, total payment transactions surpassed 3.1 billion
Card holders in their 20s represent the largest share at 25.1%

The number of Toss Bank debit card holders has surpassed 10 million.

Toss Bank announced on July 6 that, as of June 30, the number of customers who exclusively hold its debit card exceeded 10 million.

The Toss Bank debit card was introduced in October 2021 at the bank’s launch. Since then, it has grown based on its simple issuance process and cashback benefits, while expanding consumer usage through services such as foreign currency account-based overseas payments and the K-Pass.

Beyond mere issuance, the card is also actively used. As of the end of last month, the accumulated number of payment transactions surpassed 3.1 billion. Of these, offline payments accounted for 89.5% of the total, while online payments made up 10.5%.

By payment category, transportation—including city buses, subways, and taxis—ranked first at 24.2% of the total. This was followed by convenience stores at 18.3%, non-face-to-face payments such as online shopping and simple payments at 10.5%, general restaurants at 7.0%, and coffee shops at 5.1%.

The age distribution of Toss Bank debit card holders was also wide-ranging. By age group, those in their 20s represented the largest share at 25.1%, followed by those in their 30s at 20.7%, 40s at 20.3%, 50s at 15.4%, teenagers at 11.2%, and those aged 60 and above at 7.3%.

Last month, Toss Bank expanded the eligibility for debit card issuance to those aged 7 and older, allowing elementary school students to obtain a debit card in their own name. As a result, the conversion rate from child accounts to child cards rose from approximately 50% to around 71%.

The card also showed high utilization for overseas payments. Japan accounted for the highest proportion of overseas payments at 31.3%, followed by the United States at 12.5%, the United Kingdom at 7.1%, Vietnam at 5.9%, and China at 5.3%. A Toss Bank representative explained, "With increasing demand for overseas travel and direct purchases from abroad, customers are choosing our card because they can conveniently use the same debit card they use domestically for overseas payments, thanks to the foreign currency account-based payment experience."

There were also significant achievements in terms of customer benefits. The total cashback paid out through the Toss Bank debit card amounted to 160 billion won. This figure is based on the total amount paid through the regular cashback scheme, excluding event-based benefits. Donations accumulated through the donation cashback program reached 470 million won in total. The donation cashback service allocates 0.3% of each payment made with the Toss Bank debit card to charitable donations.

This content was produced with the assistance of AI translation services.