Shinhan Card’s SOLpay has emerged as the leading mobile payment platform in South Korea, achieving a score of 67.4 points in recent assessments. The platform’s ranking represents a significant climb of five positions, accompanied by a 1.1-point increase year-over-year, according to industry analysis.
The rise of SOLpay reflects a broader trend of intensifying competition within the South Korean card app market. KB Pay, operated by KB Kookmin Card, closely trails with a score of 66.8, even as Samsung Card secured a score of 66.7. These three platforms currently dominate the landscape, according to available data.
The competition is fueled by card companies’ efforts to transform into comprehensive financial platforms, leveraging non-financial and artificial intelligence (AI) services. In December 2025, SOLpay regained the top position in monthly active users (MAU), surpassing KB Pay, with 9.44 million users compared to KB Pay’s 9.32 million. KB Pay had experienced substantial growth, adding 1.07 million users – its largest increase to date – over the preceding year.
The increasing popularity of these platforms is also reflected in overall market growth. Total monthly active users across card company apps reached 52.83 million, a 4.9% increase compared to the previous year. Hyundai Card recorded 6.95 million users, followed by BC Card with 6.81 million and Samsung Card with 6.08 million. Samsung Card was the only major player to experience a decline in MAU, falling by 1.19 million, or 16.2%.
Shinhan SOLpay has bolstered its appeal through the integration of non-financial services, such as train ticket purchases and enhanced AI-powered personalized recommendations. KB Pay has focused on expanding its offerings in shopping, travel, and AI services, alongside the implementation of unique promotional events like “Daily 10 AM” sales. Other card companies are also pursuing strategies to enhance their app functionalities, including BC Card’s introduction of foreign currency exchange services and Hyundai Card’s continued focus on digital transformation.
Data from the first half of 2024 indicates that KB Pay held the highest level of interest among card company platforms, generating 11,778 mentions across various online channels. Shinhan SOLpay and Samsung Card followed, demonstrating sustained consumer engagement. The competitive landscape is expected to remain dynamic as card companies continue to invest in innovative services and user experiences.
