Announcement of Win-Win Measures to Reduce Mobile Gift Card Fees
Kakao is introducing a mobile gift certificate commission cap system to reduce the burden on franchise owners.
On the 26th, Kakao announced this win-win plan at the 'Mobile Gift Certificate Public-Private Council Performance Presentation' hosted by the Fair Trade Commission.
The Mobile Gift Certificate Public-Private Council, launched in April, has been discussing win-win measures for about nine months with participants from various fields, including mobile gift certificate distribution and issuance businesses such as Kakao, the Korea Online Shopping Association, the National Franchise Owners Association, the Korea Consumer Agency, the Fair Trade Commission, the Ministry of SMEs and Startups, and the Financial Services Commission.
To alleviate the burden on franchise owners, Kakao will introduce a mobile gift certificate commission cap system (8%) and, together with franchise headquarters, reduce preferential commissions (an additional 0.5~1.0% reduction). All benefits generated through this will be fully attributed to the franchise owners. The announced win-win plan will be applied for three years initially, after which the market situation and other factors will be comprehensively reviewed.
Additionally, to foster growth in the mobile gift certificate market, Kakao plans to increase the settlement frequency of KakaoTalk Gift mobile gift certificates from the current four times per month to ten times per month, starting in the first quarter of next year.
Kwon Dae-yeol, Chairman of Kakao's ESG Committee, said, "Kakao has actively cooperated to reduce the burden on franchise owners through discussions in the public-private council and has strived to improve the transaction order in the franchise market. We will do our best to ensure that this win-win plan is well implemented."
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