SuwonPay Incentive Payment Rate and Recharge Limit Increased for June to August

Suwon Pay Incentive Payment Rate and Recharge Limit Increase Notice Poster

The city of Suwon in Gyeonggi Province will increase the incentive payment rate and recharge limit for the local currency 'Suwon Pay' for three months from June to August.

On the 31st, Suwon City announced that in connection with the Gyeonggi Province-led 'Gyeonggi Revival Big Sale,' the Suwon Pay incentive payment rate will be raised from the existing 6% to 7%, and the recharge limit will be expanded from 300,000 won to 500,000 won.

If 500,000 won is deposited into the Suwon Pay account between June and August, a total of 535,000 won will be recharged, including an additional incentive of 35,000 won. Previously, the incentive was up to 18,000 won (6%) per month with a monthly recharge limit of 300,000 won.

Suwon Pay is a rechargeable prepaid card-type local currency. If registered on the 'Samsung Pay' app, it can be used as a mobile simple payment service without a physical card. It can be used at traditional markets within the jurisdiction with credit card terminals, small business establishments with annual sales under 1 billion won (such as supermarkets, convenience stores, restaurants), and the 'Baedal Teukgeup' app (online payment), among others.

A Suwon City official expressed hope that "the expanded issuance of Suwon Pay will revitalize the depressed local shopping districts" and added, "It is also expected to help activate the local economy."

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