From the 14th, a reduced card payment processing fee rate will be applied to more than 3 million small and medium-sized franchise stores.
The Financial Services Commission noted that from the 14th, a preferential fee rate for small and medium-sized franchise stores will be applied. Consequently, the credit card payment processing fee rate for franchise stores with annual sales of 3 billion won or less will be reduced by 0.05 to 0.10 percentage points. The debit card payment processing fee rate will also be reduced by 0.10 percentage points.
As of the first half of this year, the subjects for the preferential fee rate are 3,059,000 credit card franchise stores, 1,815,000 sub-franchise stores of payment service providers, and 166,000 taxi operators.
Each franchise store can verify the applicable fee rate through the Credit Finance Association and each card company's call center, as well as the integrated sales transaction information inquiry system.