‘Card point cash’… from the first day of service

Service suspension from 3 o’clock due to crowds of users

The integrated card point inquiry system, which allows you to search and cash out card points scattered across multiple card companies, has been shut down since the first day of service. It seems that the server could not handle it as user access was crowded at once.

According to the Financial Services Commission on the 5th, at 11 am on the day, credit card point inquiry and withdrawal service was started through the credit finance association point integrated account transfer application and the KFTC’s account info app. Previously, in order to cash out points scattered across multiple cards, it was necessary to install all the apps of individual card companies and transfer and withdraw each account. The service launched this time is characterized by the ability to search all credit card companies’ points in one place on the Credit Association website and mobile app, and transfer withdrawal to a designated account at once. Consumers can easily deposit and receive unused points by going through the identity verification process.

In the new service, it is possible to find out the estimated expiration amount and expiration date along with the points for each card held by users. Eight credit card companies in all industries, including Shinhan, KB Kookmin, Samsung, Hyundai, Lotte, Woori, Hana, BC, and Nonghyup, Citi, and Post Office participate in the point-to-cash service. Points that can be deposited by account are the representative points for each card company. The cash rate of card points is 1 won per point, and you can apply for account deposit from 1 point. The integrated card point inquiry service is available 24 hours a day, 365 days a year, but the account deposit service can only be applied once a day for each card company.

However, due to such convenience, users crowded from the first day of release, causing a disruption in service use. Eventually, the service was stopped at 3pm. The KFTC’s mobile app is also linked to the Credit Finance Association’s server, causing a disruption in access. The Credit Finance Association said, “The service was slowed by the crowds of users from 2 pm, and the service stopped at all from 3 pm,” and said, “We are trying to recover within a short time.”

/ Reporter Kim Ji-young [email protected]

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