No Need to Say "Please Throw Away the Receipt"... Optional Issuance of Card Receipts Implemented

Exchange and Refund Possible Without Receipt
Terminal Allowing Printed or Unprinted Receipt Options to Launch in March

[Asia Economy Reporter Ki Ha-young] From now on, consumers will be able to choose whether to receive paper receipts after card payments.

The Korea Credit Finance Association announced on the 13th that it will implement optional issuance of card receipts in accordance with the amendment to the Enforcement Decree of the Value-Added Tax Act, which took effect on the 11th.

Optional issuance of card receipts means that consumers can choose whether to print a receipt on the card terminal before receiving it after using a card. Consumers who need a receipt can receive it as before, and those who do not need it can choose not to print it at all. However, in the case of installment transactions, receipts will be issued automatically as before.

This reflects the fact that most card receipts are discarded on-site, and there are now various ways to check card usage details such as text messages or KakaoTalk, even without paper receipts.

Consumers can exchange or refund without a physical card receipt. However, they must bring the physical card used for the card payment and check the approval number, usage date and time, amount, etc., required for cancellation in advance through the card company’s website or application.

Card terminals capable of optional receipt issuance will be released starting next month. New terminals will be equipped with receipt printing and non-printing functions. Terminals currently used by merchants can be used as before, but merchants can add the optional issuance function if they wish.

The card industry plans to improve accessibility to websites and mobile apps so that consumers can conveniently check their card usage details.

A representative of the Korea Credit Finance Association said, "With this optional issuance of card receipts, the credit card payment process has become even simpler," and added, "The card industry will strive further to innovate the card industry to proactively respond to and lead changes in the digital financial environment in the payment market."