CU Launches Prepaid Recharge Easy Payment Service 'CU Money'

Use Cash Charged to Card in PocketCU
Pay and Earn Points at Once with QR Code or Phone Number

CU announced on the 26th that it will launch its own prepaid simple payment service, 'CU Money,' to enhance customer shopping convenience and support rational consumption.

The model is introducing the prepaid charging easy payment service 'CU Money' at CU
[Photo by BGF Retail].

CU Money is a simple payment service that allows users to charge cash onto a mobile card within CU's commerce application (app), Pocket CU, and use it linked to their bank accounts. This is the first time CU has introduced its own financial payment service.

While the existing Pocket CU simple payment method was directly connected to credit cards and others, CU Money is a prepaid payment service where customers charge the amount of cash they need onto the app’s mobile card and use it.

By preloading a certain amount onto the CU Money mobile card, users can easily make payments and earn points via the Pocket CU app QR code or mobile phone number. If a bank account is linked to CU Money, payments will be automatically recharged in 10,000 KRW increments when the balance is insufficient at the time of purchase.

CU Money can be recharged anytime and allows users to view statistics and purchasing habits of their bought products at a glance, making it an optimized payment method for planned consumption in an era of high inflation. It also automatically reports for year-end tax deduction, allowing up to 30% income deduction.

There is also a 'CU Money Family' feature that allows multiple members to use CU Money jointly. The group leader can invite family members, transfer and retrieve money usable at CU, and members can use the transferred money via the Pocket CU app and their personal mobile phone numbers. If a parent is the leader and sets their children as CU Money Family members, purchases can be made even in unavoidable situations without a mobile phone. Purchase details are sent to the parents in real-time notifications. Up to five members can be registered, each with individually set usage limits.

CU Money Family also provides a member diet management feature. It can restrict purchases of specific items such as high-calorie, high-fat, and high-caffeine products to help manage children’s healthy diets. This feature was recognized for its originality and was patented in May.

In the future, CU plans to add a transportation card function to CU Money Family and expand the CU platform ecosystem by supporting various types of groups beyond families through financial service roles.

A CU Money opening event will also be held. All customers who link their accounts for the first time and make a payment of 2,000 KRW or more will receive a 2,000 KRW payback in CU Money. Additional membership point accumulation benefits are also provided. When paying with CU Money, Friend grade members earn 4% of the payment amount as points, and VIP grade members earn 5%. Considering the existing membership benefit of 2% point accumulation for VIP grade, this is more than double the accumulation rate.

Additionally, various benefits exclusive to CU Money users will be prepared, such as extra discounts on popular products and gift subscriptions when paying with CU Money.

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