BCcard

"pay-Z", a commerce payment platform that anyone can easily use, is released

 

- It laid the foundation for social media single-person markets and small and medium-sized business owners to provide card payment services online.
- Provide the same service as the existing online commerce platform… Benefits of low commission fees.
- Pay safely and conveniently with only the payment link or QR code provided by the seller.
- It promotes advancement by linking payments from other credit card companies and allowing overseas customers to pay at domestic shopping malls.



In order to purchase products sold on social media such as TikTok and Instagram, they had to use a payment platform that required account transfers (cash) or sellers to pay high fees. Using a payment platform that charges a high fee will affect the seller's product price, which will eventually lead to an increase in consumer purchase prices.

BC Card (CEO Choi Won-seok) has launched “pay-Z”, a commerce platform that helps customers pay cash-oriented products through credit cards on social media.

“pay-Z” contains the meaning of the "Z Generation Target Simple Payment Platform" so that payment can be made more easily and conveniently on online channels mainly used by Generation Z.

Sellers in the existing commerce market had to build their own shopping malls or enter already established platforms to sell products.

In addition, marketing has been carried out using social media mainly.

However, if you operate your own shopping mall, maintenance costs will continue to be incurred, and if you enter the platform or use social media, additional fees such as entrance fees will be incurred, which will follow the cost burden.

The newly released "pay-Z" unified both all online payment services provided through Payment Gateways and whole functions of existing commerce platforms such as the product registration, order/stock/delivery/performance management.

Thanks to “pay-Z”, sellers may become able to minimize fixed costs and further increase product price competitiveness compared to present.

The transaction process through social media can also become simpler.

The seller first registers their products in “pay-Z”. the registration process is very simple like uploading photographs on their own social media accounts. Then sellers can sell the product by simply generating payment links or QR codes for each product and posting them on channels they want to use, such as social meia.

Consumer access product information registered in 'pay-Z' through payment links or QR codes posted by sellers. They can easily and safely pay by bio-identification, or passwords after registering their credit or check card in “pay-Z” once.

Currently, “pay-Z” can register all card products affiliated with BC Card. In the future, the system will be opened to other credit card companies so that non-BC cards also to be registered.

BC Card also plans to implement "pay-Z"-based payment network alliance so that not only overseas customers can pay at Korean commerce platforms but also domestic customers can pay at overseas such as Indonesia and Vietnam.

“With the expansion of single-person shops, we planned pay-Z to provide convenient commerce experiences to MZ generation customers”, said by Lee Ki-taek, Lead of BC Card's pay-Z Team. "We will lower barriers for SMBs to enter online channels at low fees and expand to global commerce platforms that can sell products to overseas."