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KB Kookmin Card vowed to top the mobile payment market through mobile app-card “K-Motion,” a payment method designed to maximize customer convenience, the company said on Thursday.
“K-Motion has raked about 260,000 new sign-ups since its September launch, within slightly more than a month,” KB Card said in a statement, pointing to the fast growth of the nation’s mobile payment market.
Aiming to replace traditional plastic cards, the card firm said its K-Motion endorsed the three Ss ― simple, slim and safe.
KB card users can sign up for the service after downloading the app free of charge from Google Play or the App Store, registering their card information and password, and selecting cards to use.
Payment proceeds when the cashier swipes the barcodes or QR codes that pop up as soon as users start the app and input the password.
K-Motion is meant to keep users’ wallets slim, enabling them to sign up for up to 20 credit or check cards, according to company officials.
The app-card assigns different virtual card numbers in every other payment, which distinguishes itself from the existing USIM-based mobile payment services. K-Motion is safe from leaks of personal information in cases of theft or cyber hacking of smartphones, the card firm said.
K-Motion has been most popular among male users in their 30s, accounting for about 22.4 percent of the users, and female users in their 20s, about 19.7 percent.
“About 24.3 percent of K-Motion users came from the age bracket of 40 and above, meaning that K-Motion has high growth potential unrestricted by users’ age,” KB said in a statement.
The company currently has a total of 8,700 partner shops that accept payment by K-Motion, including 7-Eleven, By The Way, some 140 shops in Myeong-dong, in central Seoul, and branches of Hanaro Club in the metropolitan area.
By Chung Joo-won (joowonc@heraldcorp.com)
“K-Motion has raked about 260,000 new sign-ups since its September launch, within slightly more than a month,” KB Card said in a statement, pointing to the fast growth of the nation’s mobile payment market.
Aiming to replace traditional plastic cards, the card firm said its K-Motion endorsed the three Ss ― simple, slim and safe.
KB card users can sign up for the service after downloading the app free of charge from Google Play or the App Store, registering their card information and password, and selecting cards to use.
Payment proceeds when the cashier swipes the barcodes or QR codes that pop up as soon as users start the app and input the password.
K-Motion is meant to keep users’ wallets slim, enabling them to sign up for up to 20 credit or check cards, according to company officials.
The app-card assigns different virtual card numbers in every other payment, which distinguishes itself from the existing USIM-based mobile payment services. K-Motion is safe from leaks of personal information in cases of theft or cyber hacking of smartphones, the card firm said.
K-Motion has been most popular among male users in their 30s, accounting for about 22.4 percent of the users, and female users in their 20s, about 19.7 percent.
“About 24.3 percent of K-Motion users came from the age bracket of 40 and above, meaning that K-Motion has high growth potential unrestricted by users’ age,” KB said in a statement.
The company currently has a total of 8,700 partner shops that accept payment by K-Motion, including 7-Eleven, By The Way, some 140 shops in Myeong-dong, in central Seoul, and branches of Hanaro Club in the metropolitan area.
By Chung Joo-won (joowonc@heraldcorp.com)
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Articles by Korea Herald
