CU Introduces 'Unmanned Currency Exchange Kiosk' for Foreigners

CU announced on the 27th that it will introduce unmanned currency exchange kiosks to enhance the convenience of foreign tourists and start the purchase and recharge services of the Wow Pass card, a prepaid card exclusively for foreigners.

A foreigner is using an unmanned currency exchange kiosk at CU.
[Photo by BGF Retail]

In mid-October, unmanned currency exchange kiosks were first installed at two locations: CU Myeongdong Main Store and CU Yongsan I'Park Mall Store, and will gradually expand to stores frequently visited by foreign customers.

Customers can exchange a total of 15 types of foreign currencies, including US dollars, euros, Japanese yen, and Chinese yuan, into Korean won through the unmanned currency exchange kiosks. Customers simply select the foreign currency they want to exchange, scan their passport, and insert the foreign currency to immediately exchange it into Korean won. Only banknotes can be exchanged, and the amount that can be exchanged per person per day is limited to under USD 2,000. Customers can exchange currency in the language they select on the kiosk.

The unmanned currency exchange kiosks also allow the purchase and recharge of the Wow Pass card (5,000 KRW), which integrates currency exchange, payment, and transportation card functions. Recharge services are available only with 15 types of foreign currencies, which are automatically converted into Korean won and loaded onto the card. Customers exchanging currency with the Wow Pass receive a preferential rate of up to 50%.

The Wow Pass is the number one prepaid card exclusively for foreigners in Korea. The number of transactions made at CU stores in October increased by 681.8% compared to the previous year, and the trend has been increasing monthly since last May. This card can be used for payments anywhere nationwide and is equipped with transportation card functions, making it highly versatile. Additionally, through the Wow Pass mobile app, users can check their balance and transaction history, enhancing user convenience. Until December 31, a 20% cashback event up to 2,000 KRW per person is also ongoing when paying with the Wow Pass card at CU stores.

The reason CU is introducing unmanned currency exchange kiosks is to establish convenience stores as platforms that provide lifestyle convenience services beyond simple consumption channels, in response to the surge of tourists visiting Korea this year. Shin Sang-yong, head of the BGF Retail Service Platform Team, said, “Unmanned currency exchange kiosks are much more convenient in terms of facilitating smooth communication with foreign customers than providing exchange services directly at convenience store counters.”

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