Foreign Tourists to Use International Credit Cards on Seoul Buses Starting Next Year

Hana Card will introduce a service next year allowing foreign tourists to use credit cards issued abroad for public transportation in Seoul, including city buses.

On September 22, Hana Card announced it has signed a memorandum of understanding (MOU) with Tmoney and global payment brands such as Visa, MasterCard, UnionPay, and JCB.

Under this agreement, Hana Card plans to officially launch the 'EMV open-loop' service in January 2027, enabling the use of foreign-issued credit cards as a payment method for domestic public transportation.

The open-loop system allows users to pay fares by directly tapping their credit cards on public transportation terminals, eliminating the need to purchase or recharge separate transportation cards. EMV refers to the international payment standard established by Europay, MasterCard, and Visa.

Hana Card intends to gradually expand this service, starting with Seoul city buses and later including Incheon buses, airport buses, and city-operated rail transport, as well as village buses.

The introduction of this service comes in response to the rapid increase in foreign tourists visiting South Korea and their spending on domestic cards. From January to May this year, 8.72 million foreign tourists visited South Korea, a 21.0% increase compared to the same period last year, which saw 7.21 million visitors. Additionally, the total spending by foreign tourists on domestic cards exceeded 10 trillion won in the first half of this year, marking a 50.8% increase from the previous year.

Hana Card anticipates that enabling public transportation payments with foreign-issued cards will enhance convenience for tourists and expand their travel range to local markets and traditional markets.

Sung Young-soo, CEO of Hana Card, stated, "When foreign tourists can move freely with just one credit card, that freedom will ultimately lead to increased sales for local businesses and small merchants. We will continue to expand inclusive finance to connect people and local economies."