Go to Main Content

Card News

  • Seoul’s New Policy What is Zero Pay?

  • SMG 3310

    Korea has one of the highest card payment rates in the world. Eight out of ten adults have credit cards. (Results based on Bank of Korea's 2017 survey on payment method use pattern)

    With the generalization of card payments, small businesses suffer from card payment fees. High rent, labor expenses, and card payment fees are adding to the burden of independent business operators.

    To reduce the burden of 600,000 small businesses, Seoul started the Zero Pay service in December 2018.

    Zero Pay is a convenient mobile payment service that allows for payment through a QR code.

    What distinguishes Zero Pay from other mobile payment methods?

    There is a 0% payment fee for small businesses that join Zero Pay,

    with a benefit of a 40% income deduction for consumers.

    As of April 1, 2019, Seoul's Zero Pay member stores surpassed 100,000 locations. Zero Pay can easily be found in frequently visited stores like cafes, hair salons, pharmacies, and restaurants.

    The inviting city of Seoul implements Zero Pay with zero payment fees in promotion of a happier small business community!