GS25 Surpasses 11 Trillion Won in ATM Transactions... Expands '0 Won' Withdrawal Fees

[Asia Economy Reporter Seungjin Lee] The transaction amount through GS25's automated teller machines (ATMs) exceeded 11 trillion won in 2019.

GS25 announced on the 15th that the total number of deposit, withdrawal, and transfer transactions using ATMs last year reached 65.8 million, with the transaction amount surpassing 11 trillion won. When converted to daily transaction amounts, more than 30 billion won was transacted every day.

Accordingly, GS25 is expanding its service to waive withdrawal fees through partnerships with banks. Starting from the 20th, SC First Bank customers will be exempt from withdrawal fees when making cash withdrawals via ATMs during business hours through the partnership with SC First Bank.

With this partnership, the number of banks exempting withdrawal fees has increased to eight, including Shinhan Bank and KB Kookmin Bank. Currently, GS25 operates ATMs in about 11,800 stores, which is approximately 85% of its total stores.

Meanwhile, the withdrawal fee waiver service introduced by GS25 since 2017 has also benefited store owners. It was found that more than 35% of customers using ATMs at GS25 purchase products. GS25 analyzes that this has resulted in an additional annual sales increase effect of 92 billion won.

Following the partnership with SC First Bank, GS25 plans to broadly expand partnerships with regional banks, securities firms, and others to serve as an offline financial platform.

A GS Retail official said, "We aim to further expand our role as a lifestyle convenience service platform, including ATMs, to provide convenience to customers and help franchise stores generate greater profits."

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