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Card points balance as of 2019, KRW 2.4 trillion
KRW 77.8 billion in cash visited via card point change service
[시사경제신문=이재영 기자] The card point exchange service is a system that allows you to verify dispersed points in multiple card companies at the same time and deposit them into your own account. Now it is possible to easily remove waste points.
In general, the points on the card are constantly accumulated in proportion to the amount used by the card. However, there are not many ways to use it except for limited use such as affiliate stores. To withdraw the points from the card, it was necessary to go through a complicated procedure through each card company, so there were many cases where the earnings of the credit card company exceeded the expiration period of five points years.
However, the amount of cash consumers visited via the card point exchange service introduced on the 5th was estimated to have reached 77.8 billion won.
The Financial Services Commission, the Korea Financial Credit Association, and the Korea Financial Telecommunications and Compensation Institute announced on the 15th that the number of requests for card point monetization service from 5 to 12 was 6.68 million and the amount used was 77.8 billion won. On average, 910,000 applications were submitted per day and 10.3 billion won were converted into cash.
By credit card company, the order of application was Shinhan (17.8 billion won), Samsung (14.5 billion won), KB Kookmin (10.6 billion won), BC (8, 7 billion won) and NH Nonghyup (8.6 billion won).
Previously, on the 5th, the Financial Services Commission launched a service that allows you to search all credit card company points with the Credit and Finance Association’s integrated account transfer / card point inquiry application and the KFTC account information website or app and transfer / withdraw money to a designated account immediately. I have a bar.
As of 2019, the card point balance reached 2.4 trillion won, so the demand for monetization is expected to continue.
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