Consumers will soon be able to use credit cards, rather than just cash, for person-to-person used goods transactions.

The Financial Services Commission (FSC) announced today (October 7) that it held a regular meeting and newly designated 24 services as innovative financial services, including the "credit card secure payment service for person-to-person used goods transactions" applied for by Naver Financial.

The FSC explained, "Designated companies must ensure that buyers can view seller information through safe numbers and restrict buyers' credit card payment limits to under 1.5 million won per transaction to prevent abnormal financial transactions."

In addition, the FSC designated the "joint loan service" applied for by Toss Bank and Gwangju Bank as an innovative financial service.

The FSC expects that this service will reduce operating costs by utilizing Toss Bank's non-face-to-face channels, and that both banks will share the loan amount equally, thereby providing users with more reasonable loan terms.

Mirae Asset Securities' "mobile subscription service for wrap-type cash management accounts (CMA)" was also newly designated.

Previously, products had to be explained face-to-face or via video call, but consumer convenience has been enhanced by supplementing the process with video explanations, an artificial intelligence (AI) chatbot, and a Q&A format with counseling staff.

A total of 21 other services were also designated, including the "generative AI utilization service for internal executives, employees, and customers" applied for by 13 companies, including Kakao Pay.

In addition, the FSC plans to extend the designation period for IBK Securities' "overseas stock fractional share trading service" by two years and overhaul regulations in response to SK Securities' request for related regulatory improvements.

(Photo provided by the Financial Services Commission, Yonhap News)