Convenience Store Card Payment Share Increased by 86% After Disaster Relief Fund Distribution

[Asia Economy Reporter Lim Hye-sun] Following the distribution of the emergency disaster relief funds, the proportion of card payments at convenience stores has increased.

According to GS Retail on the 2nd, an analysis of payment method usage at convenience store GS25 from May 13 to May 30, when the use of emergency disaster relief funds became widespread, revealed that the proportion of card payments (including credit, debit, and prepaid cards) surged to 86.1%. This is the highest card payment ratio ever recorded.

According to the Ministry of the Interior and Safety, as of May 31, out of 21.71 million households eligible for the emergency disaster relief funds, 16.96 million households applied for or received the funds via card, accounting for 78.1% of the total. Approximately 8 out of 10 households applied for or received the emergency disaster relief funds by card. The amount of emergency disaster relief funds applied for or paid via card was 11.1384 trillion KRW, which is 8.8486 trillion KRW higher than the 2.2898 trillion KRW applied for or paid in cash or gift certificates.

GS25 explained, "The demand from customers wanting to use the 11 trillion KRW worth of emergency disaster relief funds distributed via card has concentrated at convenience stores, increasing the proportion of card payments." As consumption through the emergency disaster relief funds increased, GS25 prepared various events, including planning over 1,000 promotional products in collaboration with card companies, to stabilize living costs and create a budget-friendly shopping environment.

When purchasing fruits or rice at GS25 using NH Nonghyup Card or Samsung Card, customers can receive a 20% billing discount. Customers who purchase three types of Bibim noodles using BC Paybook QR payment can also get 30% of the payment amount refunded. The maximum billing discount and payback limit per person during the event period is 5,000 KRW each.

A GS25 representative said, "Convenience stores, which have become a central platform for nearby shopping due to COVID-19, are also faithfully fulfilling their role as a major usage place for the emergency disaster relief funds. We will create an environment where customers can shop economically by planning and presenting various events."

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