KB Kookmin Card Expands Deferred Payment Service of Public Transport Fare into the Nationwide Public Transportation System
- KB Kookmin Card’s deferred payment service of public transport fare is available on all forms of the public transportation service in the country
- KB Kookmin Card is the only one in the industry who provides nationwide deferred payment service of public transport fare
- KB Kookmin Card conducts a special event called “Unify the Whole Nation” to celebrate the nationwide expansion of the deferred payment service of public transport fare.
A 34-year-old man working in Seoul is a so-called “weekend couple” as his wife works as an elementary school teacher in Pohang. Whenever he goes to Pohang to meet his wife, he checks if he has enough small bills and coins as his credit card with deferred payment of public transport fare is not applicable to the Pohang public transportation system. Although he has only several occasions a month to pay public transport fare with cash, it is still annoying for him to prepare small change in advance.
A 28-year-old woman living in Busan went backpacking to Jeju Island early this year. Though she reduced luggage and belongings as much as possible to lighten her backpack, she couldn’t reduce the weight of her purse because she needed small changes and small bills to pay public transport fare in Jeju. She had no problems in paying meals and products but the credit card that she used to take buses in Busan was not compatible to public transport system in Jeju. Thinking that she could use the credit card to take buses in Jeju Island too, she didn’t prepare small changes and bills. Eventually, she had to change the plan as it took time to change a fifty thousand won note into small bills.
To save you from these annoying situations, KB Kookmin Card (www.kbcard.com/ CEO Choi, Gi-Eui), “Korea’s best daily life solution provider,” expanded its deferred payment service of public transport fares into the nation’s public transportation systems in last May for the first time in the industry. So, if you have either a KB credit card or a KB check card that has a deferred payment function of public transport fares, you can take buses or subways anywhere in the country with a KB card.
Late May, KB Kookmin Card expanded the application of its deferred payment service of public transport fare to 627 buses in Jeju Island and Pohang. With this, KB Kookmin Card accomplished nationwide deferred payment service of public transport fare in 15 years since it released Kookmin Pass Card, industry’s first deferred payment-type public transport card. With an exception of a few areas that don’t have transportation service infrastructure yet, KB Card’ deferred payment service of public transport fare is available anywhere in the country. Other credit card companies offer deferred payment service too but their deferred payment service isn’t available in certain regions such as Daegu, Gwangju, and a few areas in the North Chungcheong and Gangwon Provinces.
In addition to this, KB Kookmin cardholders can enjoy an additional benefit of income tax deduction as the government announced a new plan to raise the income tax deduction rate for credit card use on public transport fares to 30%, the same rate for check card use. It also announced to raise the ceiling of income tax deduction on credit card use by an additional one million won in 2013.
To celebrate the nationwide expansion of deferred payment service of transport fare, KB Kookmin Card launched a special event, “Unify the Whole Nation.”
△ KB Kookmin Card will give gifticon to 200 people among those who applied for this event and solved a quiz at its website (www.kbcard.com) or its mobile application for the period from June 1 to July 31.
△KB Kookmin Card gives 3D smart TV as first prize to one person and New iPad as second prize to five persons among those who applied for this event and spent a monthly average of 700,000 won and 50,000 won for public transport fare from June 1 to August 30.
△ KB Kookmin Card gives a 50,000 won gift card to 20 persons among those who applied for this event and spent a monthly average of 50,000 won for public transport fare in Jeju Island.
Meanwhile, KB Kookmin Card has secured a leading position in the deferred payment-type public transport card market. Under the circumstance that deferred payment-type public transport card accounted for 50% of total public transport card usage of approximately nine trillion won as of 2011, KB Card represented about 27% (1.2 trillion won) of total public transport fare payment by deferred payment-type transport card.
A KB Kookmin Card official says, “KB Kookmin Card, who created a sensational change in people’s daily life by introducing the deferred payment-type transport card as a first in the industry, opened a new chapter of national deferred payment-type transport card this time.” He added, “KB Kookmin Card will continue to provide innovative services to customers as Korea’s best daily life solution provider.