The Korea Minting and Security, Printing & ID Card Operating Corporation (KOMSCO) Wednesday started its digital gift card services.
Its model projects started in the Seongnam City and Siheung City in the Gyeonggi Province. KOMSCO will expand the services nationwide.
People can easily buy the digital gift card through apps, and buy products and services. Buyers have only to use their smartphones to scan quick response (QR) codes available at shops, enter the purchase amount, enter their pin numbers and complete the settlement.
Consumers can easily buy digital gift cards. Merchants can save card service fees. The local administrative bodies can manage the franchise easily.
KOMSCO said the local autonomous bodies can save cost when they use its blockchain-based platform in providing welfare payments to the residents.
It said the blockchain-based platform is free from forgery. It can certify personal identification and can be used in online voting.