Offering Brokerage Fees Below 2%
Integration with Shinhan Bank's 'Ttaenggyeoyo' App Completed
'Meokkkaebi' Integration Targeted Within February
Ahead of the Lunar New Year holiday, it has become possible to make payments with Gyeonggi local currency on Shinhan Bank’s public delivery app partnered with Gyeonggi Province, the ‘Ttaenggyeoyo’ app.
Gyeonggi Province has completed system integration to enable payment with Gyeonggi local currency not only on the existing Baedal Teukgeup app but also on Shinhan Bank’s ‘Ttaenggyeoyo’ app. Payment testing is also underway with the goal of integration within February on another partnered public delivery app, Meokkkaebi, operated by Meokkkaebi Co., Ltd.
This integration is a follow-up measure to the “Business Agreement for the Activation of Gyeonggi Province Public Delivery Apps” signed on November 29 last year by Gyeonggi Province, Shinhan Bank, and Meokkkaebi Co., Ltd., aimed at reducing the economic burden on small business owners and expanding their options.
According to the agreement, each organization will hold the status of public delivery apps within Gyeonggi Province from 2025 to 2026 and plans to cooperate to establish a virtuous cycle ecosystem in the delivery market that benefits both consumers and small business owners.
The province expects that cooperation with private app companies will alleviate the burden on small business owners and broaden the choices available to delivery service users.
Jeon Eun-sook, Director of Enterprise Development, said, “With the integration of Gyeonggi local currency into Ttaenggyeoyo, the public delivery app project, which has been led by Gyeonggi Province’s Baedal Teukgeup, has expanded into a cooperative project with the private sector. We will also integrate Meokkkaebi as soon as possible to reduce the economic burden on residents and expand the market share of public delivery apps.”
Meanwhile, Ttaenggyeoyo is a delivery app operated by Shinhan Bank, characterized by a low 2% commission fee and fast settlement service. Meokkkaebi is a public delivery app operated in 17 local governments including Jeju, charging small business owners a 1.5% brokerage fee.
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