Ministop Introduces Change Account Transfer Service
[Asia Economy Reporter Lim Hye-seon] Convenience store Ministop announced on the 8th that it will introduce a change deposit account transfer service.
The change deposit account transfer service is a service that deposits the remaining change into the customer's bank account when the customer purchases goods with cash or gift certificates at the store.
Ministop signed a business agreement with the Bank of Korea and developed the account transfer service to enhance customer payment convenience when paying with cash and to reduce social costs associated with cash issuance and circulation.
The change deposit account transfer service can be used through credit cards/debit cards or mobile cash cards that allow deposits and withdrawals. After the customer pays for goods at the store, they present a card or mobile cash card (QR code, barcode), which is recognized by the terminal to deposit the change into the linked account.
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Ministop expects that the introduction of this service will not only resolve customer inconveniences caused by change but also assist store owners in managing their stores by reducing the need to hold change arising from cash transactions.
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