Busan City Holds Zero Pay '20% Payback Event' for Lunar New Year

From the 15th to the 16th of next month, 20% Gift Certificate Refund on Direct Debit Payments via Busan Bank and Biple Pay Apps at Zero Pay Merchants

Up to 50,000 KRW Refund per Person, Payable on February 29 - Usable at Zero Pay Merchants until Ma

Busan City will hold the 'Seol Celebration Zero Pay 20% Payback Event' from the 15th of this month to the 16th of next month ahead of the Lunar New Year holiday.

'Seol Holiday Zero Pay 20% Payback Event' Poster.

This event was prepared to improve citizens' consumption sentiment and promote sales growth for small business owners in anticipation of increased consumer spending during the Lunar New Year holiday.

Zero Pay is a QR code-based mobile debit payment method introduced in 2019 that does not go through credit card companies or payment gateway (VAN) providers.

With a payment fee rate in the 0% range, it not only reduces the payment fee burden for small business owners but also offers consumers a 30% income deduction benefit (40% for traditional markets).

Based on merchant sales, businesses with sales of 800 million KRW or less have no payment fees; those with sales exceeding 800 million KRW up to 1.2 billion KRW incur a 0.3% fee; and those exceeding 1.2 billion KRW incur a 0.5% fee.

During this event, when making debit payments at Zero Pay affiliated stores in Busan (excluding some stores) using the ▲Busan Bank (mobile banking) ▲Bizplay (B-Pay) apps, 20% of the payment amount will be refunded as Zero Pay mobile gift certificates.

The refund (payback) is available up to a maximum of 50,000 KRW per person, and the issued Zero Pay mobile gift certificates can be used at Busan small business Zero Pay affiliated stores.

The mobile gift certificates will be sent via KakaoTalk on February 29, and the usage period for the gift certificates is until March 20. Stores where the gift certificates can be used can be found through the official Zero Pay app, 'G-MAP.'

For more details, please contact the Busan Small Business Comprehensive Support Center.

Shin Chang-ho, Director of the Digital Economy Innovation Office of Busan City, said, “Through this event, we hope that citizens' consumption sentiment will improve and small business sales will increase ahead of the Lunar New Year holiday, revitalizing the local economy.” He added, “We ask for the interest and participation of citizens in this event, which helps local small businesses and allows consumers to get a refund on their payment amounts.”