"ZeroPay" Surpasses 500,000 Merchants... "Mobile Payment"

Source=Ministry of SMEs and Startups

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 11th that the number of 'Zero Pay' affiliated stores has surpassed 500,000.

Zero Pay service was officially launched in January last year to reduce payment fees for small business owners. The average daily payment amount in April this year reached 3.4056 billion KRW, and on the 8th, the number of affiliated stores exceeded 500,000.

Zero Pay allows payments to be made via mobile without handing over cards or cash at stores. According to the Ministry of SMEs and Startups, the recent significant increase in Zero Pay affiliated stores and usage is due to growing interest in contactless consumption amid the COVID-19 pandemic and the expansion of local gift certificate issuance using Zero Pay.

Applications for Zero Pay affiliation this year were 8,500 in January, 8,900 in February, 85,000 in March, and 59,000 in April. While the total payment amount via Zero Pay was around 76.7 billion KRW last year, 102.1 billion KRW was paid in April alone this year.

Shin Jaekyung, Director of Smart Small Business Development at the Ministry of SMEs and Startups, said, "We hope many small business owners can benefit from low payment fees by joining Zero Pay," adding, "We will support further activation of Zero Pay through improving payment convenience and diversifying payment functions."

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