|Subject||Zero Pay BI Disclosure - Over 60,000 Stores to Join|
|Division||Micro-Enterprise Policy Division||Date||2018.12.20||Writer||Deputy Director JaeKyung Shin|
|Headline||MSS announces Zero Pay Brand Identity (BI) and the QR kit design that will be displayed at franchise stores. Over 60,000 stores nationwide will join Zero Pay to benefit from near 0% payment-processing fees.|
MSS announced Zero Pay BI and is gearing up to start a test run within this year. On December 3, at the Korea Press Center, the MSS held a ceremony to unveil Zero Pay BI and signed a memorandum of understanding (MoU) to promote Zero Pay with Seoul, Busan, Gyeongsangnam-do, and 26 franchise headquarters. They agreed to exert efforts to reduce the franchises’ burden of paying transaction fees significantly. This MoU paid the groundwork for consumers to use Zero Pay at over 60,000 franchise stores (including 1,532 directly operated stores) nationwide. Franchise headquarters expressed hope that a significant cut in transaction fees, which have burdened store owners, will be of great help in increasing operating profits.
In Zero Pay BI, which was unveiled on December 3, the last alphabet “O” of ZERO represents the number “0” in a powerful and concise image that means no burden of processing fees. The QR kit, which will be displayed at franchise stores, adopted a graphic that symbolizes a ribbon on a gift box in traditional Korean colors that remind of “saekdong jeogori” (Korean traditional jacket with rainbow-striped sleeves). It contains the meaning of providing a useful and valuable service to small merchants, self-employed people, and citizens.
The MSS has prepared the following measures to lower transaction fees, one of the biggest burdens of small merchants: The MSS identified related technologies at a simple payment pitching contest held on June 7. Through a joint task force of private and government organizations, it also established four basic principles, as well as technical and service standards, in efforts to eliminate inefficiency and duplicated investments.
MSS Minister Hong Jong-haak said, “Zero Pay has taken its first step with its BI disclosure. With cooperation between related ministries, local governments, and businesses, we will try to stabilize the service as soon as possible.”
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