Busan City to Introduce Dongbaekjeon Mobile QR Payment in November... Pre-registration for Merchants
Scan Merchant QR Code with Smartphone and Enter Payment Amount for Direct Transfer
No Fees, Next-Day Payment Deposit, Convenient Payment Without Ter
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] A mobile QR payment method without card fees will be introduced to local currency.
The mobile QR payment option will be added to the payment methods of Busan's local currency, ‘Dongbaekjeon,’ and is scheduled to be applied from November 9.
Starting from the 21st, Busan City will begin pre-registration for mobile QR merchant enrollment targeting small business owners in the Busan area.
Dongbaekjeon mobile QR payment works by the user scanning the QR code of a Dongbaekjeon mobile QR merchant with their smartphone, entering the payment amount, and then the purchase amount is directly transferred from the user's registered account to the merchant's account.
This method eliminates intermediaries such as credit card companies and payment gateway companies (VAN), so small business owners do not bear any fees.
It not only reduces the economic burden on small business owners but also offers the advantage of next-day deposit of payment funds and is expected to prevent sales omissions.
In particular, since the merchant owner can display the merchant QR code on the Dongbaekjeon application on their smartphone, ‘App to App’ payment using both the user's and merchant owner's smartphones is also possible.
Pre-registration for mobile QR merchants is available until the 11th of next month by entering the business name, contact information, business registration number, address, etc., on the mobile Dongbaekjeon application or the Dongbaekjeon website.
After pre-registration, the operating agency will guide the official registration method by phone, and once the city's merchant eligibility screening is completed, the QR kit will be delivered to the merchant within 3 to 5 days. However, after the pre-registration period ends, applications must be made directly through the mobile Dongbaekjeon application.
Byun Sung-wan, Acting Mayor of Busan, said, “Mobile QR payment has been introduced to Dongbaekjeon to prepare for contactless payments in the post-COVID era.”
Acting Mayor Byun added, “Especially, QR payment can be used in places with poor payment environments such as food trucks, so it is expected to be a great help to small business owners.”
Busan City also plans to introduce Dongbaekjeon payment for ‘Busan Bank Somepass’ merchants in the second half of this year.
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