BC Card Builds Blockchain-Based VIP Voucher System... Industry First
Immediate Mobile Issuance and Use Upon Application via Paybook Application
[Asia Economy Reporter Ki Ha-young] BC Card has implemented blockchain technology across the entire VIP customer-exclusive voucher system for the first time in the industry.
BC Card announced on the 15th that it has applied blockchain technology to 15 types of VIP vouchers so far. It plans to implement blockchain technology for the remaining VIP vouchers and other VIP card-exclusive services as well.
With this system construction, BC Card connected its internal IT system, customers, and partner merchants through blockchain, streamlining all processes from voucher issuance to usage and settlement via real-time API. The existing VIP voucher system required physical voucher issuance such as paper vouchers, data transmission, and reconciliation, involving manual and physical processes.
Through this, VIP customers can instantly issue and use vouchers on mobile devices via BC Card’s comprehensive financial platform Paybook. Partner merchants can check daily voucher sales in real-time and settle accounts through a dedicated application (app). The headquarters of partner merchants can also view and settle monthly voucher sales of their sub-merchants in real-time through BC Card’s merchant solution, 'WiseBiz.'
The synergy effect with KT was also significant during the VIP voucher system upgrade process. In August last year, BC Card collaborated with KT to implement a partner settlement system using blockchain. Based on the accumulated technology and know-how from working with KT, BC Card was able to independently develop blockchain customization during this upgrade process.
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Kim Jin-chul, Executive Vice President and Head of Customer Service Division at BC Card, said, "The establishment of a blockchain-based VIP voucher system is an opportunity to lead a more innovative and convenient payment environment," adding, "We will continue to provide differentiated benefits and payment services to customers through ongoing technological development and service innovation."
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