SEOUL, May 1 (Korea Bizwire) — Customers will soon be able to receive change after spending cash at convenience stores and supermarkets through a direct deposit into their bank account, an initiative that is expected to launch later this year.
The Bank of Korea announced Wednesday that it has joined hands with convenience store chains Emart24 and Ministop to introduce the new service that deposits change straight into a customer’s bank account.
Once the service is implemented, users can spend cash or gift certificates at a local store and send the change to their bank account by using a related smartphone app to scan a barcode or QR code at a kiosk inside the store.
The service will become available at all Emart24 and Ministop stores in the country starting later this year.
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