Скачать или смотреть Korea to launch cash-back service for in-store purchases

The Korean government is planning to adopt a cash-back system that would allow customers to withdraw cash on in-store purchases at convenience stores.
Kim Min-ji fills us in on the changes.
Consumers in Korea will soon be able to withdraw cash from their cards while making purchases at convenience stores,... instead of having to find an ATM.
The Financial Supervisory Service says it will implement a "cash back" service starting in the first quarter of next year.
Users will be able to add a cash-advance amount to their bill when making an in-store purchase with a card... and get the cash back at the register.
The system is similar to those in place in the U.S. and Australia.
It will only apply to debit cards at first, but will later be expanded to include credit cards, as well.

The cash-back amount will be limited to 100-thousand won, or roughly 90 U.S. dollars, per account per day.
The commission will be set at a lower rate than for public ATMs.

The government will test the service in trial runs at convenience stores, starting with 20 run by the retail giant Shinsegae.
GS25 -- another convenience store chain -- will adopt the pilot service in November.
However, there are already concerns that it could lead to an rise in robberies,... due to the increase in cash holdings by convenience stores.
The FSS says it will step up installations of CCTV cameras and keypad covers to prevent passcode leaks,... and says the cash advance limit was set in part to prevent a rise in crime.
Kim Min-ji, Arirang News.

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