Thursday, April 9, 2020
CU Convenience Stores Introduce Cryptocurrency Payment Service
In Partnership with Danal
CU Convenience Stores Introduce Cryptocurrency Payment Service
  • By Choi Moon-hee
  • March 4, 2020, 11:55
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CU convenience stores have introduced a cryptocurrency payment service.

BGF Retail has forged a partnership with Danal, Inc. to introduce Paycoin, a cryptocurrency payment service, to CU convenience stores nationwide.

CU announced on March 3 that it has introduced the Paycoin service to enhance convenience for customers and reduce commission fee burdens on merchants.

Paycoin's commission is only 1 percent, half of that for a regular credit card.

Paycoin payment service is a cryptocurrency payment service based on blockchain technology and uses cryptocurrency Paycoin (currency unit: PCI). Anyone can use the service by becoming a member of Pay Protocol Wallet, a cryptocurrency payment application.

A user needs only to scan a barcode of Pay Protocol Wallet and the price of a product will be converted to Paycoin according to the Paycoin exchange rate at the time of payment.