Musinsa to Launch Prepaid Recharge Service 'Musinsa Money' in July

'Musinsa Money' Launches on July 1
Gift Certificate Feature for Member-to-Member Gifting Also Introduced

On May 29, Musinsa announced that it will launch 'Musinsa Money,' a prepaid recharge service that can be used like cash, in July. The company will also introduce the 'Musinsa Money Gift Certificate Gift' feature, which allows members to send and receive recharge funds with each other.

Musinsa's prepaid recharge service 'Musinsa Money' and 'Musinsa Money Gift Certificate Gift' scheduled for release in July. Provided by Musinsa.

Musinsa will introduce 'Musinsa Money,' issued and operated by its financial subsidiary Musinsa Payments, starting July 1. Musinsa Payments obtained a license related to the issuance and management of prepaid electronic payment instruments in November last year and has since been preparing to implement the system.

Musinsa Money is a simple payment method that allows members to use the amount recharged to their linked account as cash. It is the first prepaid recharge service among fashion platforms. Members registered with any of the following services operated by Team Musinsa?Musinsa Store, 29CM, and Soldout?can recharge Musinsa Money and use it wherever they wish.

Members can recharge a minimum of 50,000 won per transaction and hold up to 2 million won in Musinsa Money. The recharged Musinsa Money can be withdrawn to an account under the member’s name starting from a minimum of 500 won, with a maximum daily withdrawal limit of 2 million won. During the payment process, members must enter their designated payment password for the transaction to be completed.

This service is expected to shorten the time from product search to payment, thereby improving convenience when purchasing limited-quantity, first-come-first-served items.

The company will also launch the 'Musinsa Money Gift Certificate Gift' feature, which allows members to send and receive recharge funds. Musinsa Money gift certificates are available in amounts ranging from a minimum of 1,000 won to a maximum of 500,000 won.

A Musinsa representative said, "We are introducing Musinsa Money and the gift certificate gifting feature through our financial subsidiary to ensure that customers can use Musinsa services conveniently and safely during their shopping experience." The representative added, "We are also preparing promotions such as providing additional rewards for using Musinsa Money, in order to offer tangible benefits to our frequent customers."