KB Kookmin Card announced on September 28 that it has conducted a test of stablecoin payments at CU stores in collaboration with BGF Retail, NICE Information Communication, and AhnLab Blockchain Company.
The test focused on implementing a payment method based on a blockchain network in a real store environment.
Customers can select products and scan a QR code generated at a kiosk with their digital wallet, initiating the stablecoin payment request and transfer. The results of the blockchain transaction are then sent to the payment system, indicating whether the payment has been completed at the store.
This initiative is distinguished by its use of actual CU store kiosks and payment infrastructure, moving beyond simple internal system testing. KB Kookmin Card verified the entire process, from QR code generation to stablecoin transfer, blockchain transaction confirmation, and merchant payment completion, in a real-world setting.
Looking ahead, KB Kookmin Card plans to explore various payment models in anticipation of stablecoins being utilized as a legitimate payment method. The company aims to develop payment and settlement infrastructure in line with relevant laws, regulations, and supervisory directions for practical service application.
A KB Kookmin Card representative stated, "It is significant that we have validated the entire payment process in an actual offline merchant environment. We will prepare a payment environment that connects digital wallets and merchants while leveraging the strengths of existing card payment infrastructure."
The test focused on implementing a payment method based on a blockchain network in a real store environment.
Customers can select products and scan a QR code generated at a kiosk with their digital wallet, initiating the stablecoin payment request and transfer. The results of the blockchain transaction are then sent to the payment system, indicating whether the payment has been completed at the store.
This initiative is distinguished by its use of actual CU store kiosks and payment infrastructure, moving beyond simple internal system testing. KB Kookmin Card verified the entire process, from QR code generation to stablecoin transfer, blockchain transaction confirmation, and merchant payment completion, in a real-world setting.
Looking ahead, KB Kookmin Card plans to explore various payment models in anticipation of stablecoins being utilized as a legitimate payment method. The company aims to develop payment and settlement infrastructure in line with relevant laws, regulations, and supervisory directions for practical service application.
A KB Kookmin Card representative stated, "It is significant that we have validated the entire payment process in an actual offline merchant environment. We will prepare a payment environment that connects digital wallets and merchants while leveraging the strengths of existing card payment infrastructure."
* This article has been translated by AI.
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