Lunar New Year Gifts with Easy Payment... SSG Pay 'Money Gift' Users Up 79%

[Asia Economy Reporter Cha Min-young] More customers are resolving their Lunar New Year gifts through simple payment methods.

On the 19th, users of SSG Pay's 'SSG Money Gift' service, a simple payment platform of Shinsegae Group, increased by 79% compared to the previous month during last Chuseok holiday season. During this period, the amount used for SSG Money Gift also rose by 45% from the previous month, with 5 billion KRW worth used as holiday gifts.

SSG Money is a representative differentiated payment service provided by SSG Pay. It is a prepaid payment method that can be charged and used or gifted via bank transfer, credit card, gift certificates, or points.

Because it offers convenience to easily gift with just a mobile phone number and broad usability like cash at over 10,000 online and offline locations including Shinsegae Department Store, E-Mart, Starfield, SSG.com, apartment management fees, Seoul and Busan city tax payments, post office, and transportation cards, the number of users gifting SSG Money is increasing. In fact, the average daily users of SSG Money Gift in January, ahead of this year’s Lunar New Year, showed a 32% increase compared to December of the previous year.

The increase in usage of SSG Money Gift during the holiday season indicates active use for gifts, parents’ allowances, and New Year’s money. It helps reduce the hassle of lining up at banks to exchange new bills or going out to buy gifts.

Additionally, SSG Pay provides a convenient feature to use paper Shinsegae gift certificates (scratch type) through SSG Money. Without the hassle of visiting customer centers or sending certificates by registered mail to use paper gift certificates online, customers can instantly convert them to SSG Money via the ‘Convert Shinsegae Gift Certificate’ menu within the SSG Pay app and use them freely.

Moon Jun-seok, head of the platform business division at Shinsegae I&C, said, “With just a mobile phone number, you can easily and conveniently send holiday gifts with SSG Money, and gifting via mobile is gradually becoming a trend. Reflecting this trend actively, we plan to provide a differentiated ‘Gift Store’ service exclusive to SSG Pay in the future.”

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