About 2.78 million small and medium-sized card merchants receive preferential fees

About 2.78 million small and medium-sized credit card merchants with annual sales of less than 3 billion won receive preferential fees.

The Financial Services Commission announced on the 26th that starting on the 31st, preferential fees will be applied to 2.786,000 franchisees, which account for 96.1% of all credit card franchisees. Among the franchisees selected this time, there were 2.18 million (75.2%) small-sized franchisees and 66,000 (20.9%) small and medium-sized franchisees, up 42,000 and 1,000 respectively from the second half of last year. General franchisees that are not small and medium-sized franchisees receive a fee of around 2%.

There are 2.18 million small merchants with annual sales of less than 300 million won, which are confirmed and selected through taxation data of the National Tax Service, and receive a fee of 0.8% for credit cards and 0.5% for check cards. Among small and medium-sized merchants, annual sales of 300 million to 500 million won are 1.3% for credit cards and 1.0% debit cards, for 500 million to 1 billion won, credit cards 1.4%, debit cards 1.1%, and 1 billion to 3 billion won credit cards 1.6%, check cards 1.3 % Fee applies.

Although not a credit card franchise, 10,093,000 online businesses and 165,000 private taxi businesses that accept credit card payments through electronic payment agency (PG) or transportation settlement companies also receive preferential fees.

In the second half of last year, if a new credit card merchant was applied and the average commission rate was applied to the industry, but was selected as a small and medium-sized credit card merchant this year, each credit card company will refund the difference in fees by March 17th. In the case of a new affiliated store that closed in the second half of last year, you can get a refund.

In the second half of last year, there are 198,000 new credit card merchants, of which 190,000, or 95.8%, are expected to be eligible for refund. The amount of refund is about 49.9 billion won (38 billion won for credit and 11.8 billion won for check), and about 70% of the total amount is expected to be refunded to small merchants. The average refund amount per member store is around 260,000 won.

The Loan Finance Association plans to send out a notice from the 27th to affiliates that receive a new preferential fee rate or refund the difference in fee. In addition, you can check the commission rate directly through the Credit Association call center (02-2011-0700) or the’merchant store sales transaction information integrated inquiry system (www.cardsales.or.kr)’.

Reporter Kim Joon-young [email protected]

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Source: 경제 by www.segye.com.

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