"Get Up to 50,000 KRW Payback When Using ZeroPay on Gyeongnam Bank App"
[Asia Economy Reporter Kim Hyo-jin] BNK Gyeongnam Bank announced on the 23rd that it will hold a 'Zero Pay Payback Event' until the 31st in celebration of Christmas. Customers who use the Gyeongnam Bank mobile banking application (app) to make Zero Pay payments of 5,000 won or more at Zero Pay affiliated stores nationwide will receive a 5% payback on the amount spent.
The payback is capped at a maximum of 50,000 won per person, and payments made with mobile traditional market Onnuri gift certificates and regional gift certificates via Zero Pay are excluded from the event.
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Zero Pay payments reduce the commission burden on small business merchants and offer consumers high income deduction benefits. The merchant commission rates are based on the previous year's sales: 0% for sales up to 800 million won, 0.3% for sales exceeding 800 million won but up to 1.2 billion won, and 0.5% for sales exceeding 1.2 billion won. Consumers receive a 40% income deduction benefit.
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