Convenience Meets Blockchain

South Korea is witnessing a digital transformation as Chai, a mobile payments app powered by the Terra blockchain, joins forces with CU convenience stores. Starting from the end of 2019, Chai will enable payments at 13,500 CU locations, making transactions as easy as a quick run for snacks.

The Power of Partnerships

The collaboration between Chai and BGF Retail, the operator of CU stores, marks a significant step in expanding blockchain-based payment solutions. By leveraging the user-friendly app, shoppers not only enjoy seamless payments but also reap the benefits of exclusive discounts ranging from 5% to 10%—talk about a win-win!

Pushing Down Costs

Low transaction fees are icing on the cake for merchants. This financial relief is made possible by the impressive growth of Terra’s stablecoin economy. Merchants can keep more of their profits while enticing customers with savings, creating an appealing shopping environment.

Growing User Base

Chai is not just a one-trick pony. With a user base exceeding 450,000 and integration into seven e-commerce platforms, Chai is setting itself up for a stellar growth trajectory. So, while you’re grabbing some chips, you might just find yourself tapping into a fantastic user experience!

Future Endeavors

Don’t put your phones away yet! Chai is also teaming up with BC Card, South Korea’s largest payment processor, to launch a prepaid debit card by early 2020. Imagine the convenience of a debit card that works seamlessly with your existing app. Now, that’s where innovation meets usability!

The Wider Picture

While South Korea leads the charge, the global trend of adopting cryptocurrencies is undeniable. In France, retailers are jumping on the crypto bandwagon, with over 25,000 points of sale supporting Bitcoin payments due to collaborations with payment platform providers. This trend is echoing worldwide, showcasing the inevitability of a digitally-centric payment future.