KB Kookmin Card is expanding its service that allows the integration of its unified reward system, Pointree, into local currencies nationwide.
On September 21, KB Kookmin Card announced that it is implementing an expanded Pointree local currency conversion service in collaboration with Kona I.
As part of this expansion, 36 additional local governments, including Gyeonggi and Cheongju, will be included. This means that KB Kookmin Card members can convert Pointree into local currency through apps from 54 municipalities across the country, alongside members of Kona I's local currency program.
Converted Pointree can be used at local small business affiliates. The conversion rate is set at 1 Pointree to 1 won, with a minimum conversion of 10 Pointree and a maximum of 100,000 Pointree per month.
KB Kookmin Card and Kona I expect that this initiative will not only broaden the usage of Pointree but also stimulate local consumption. By allowing Pointree to be used as local currency at regional affiliates, it is anticipated to boost sales for small businesses and invigorate local economies.
From the customers' perspective, the expansion of Pointree's usability to include local currencies is a significant benefit, while local governments can encourage consumption within their communities. Both companies are also looking forward to the ESG impact of linking financial benefits to local economies.
A representative from KB Kookmin Card stated, "We have expanded the regions eligible for the local currency conversion service to make it more convenient for customers to use Pointree. We hope that Pointree will lead to increased local consumption, benefiting small business sales and revitalizing the local economy."
* This article has been translated by AI.
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