KB Kookmin Card Expands Pointree-to-Local Currency Conversion to 54 Local Governments Nationwide

KB Kookmin Card announced on September 21 that, starting from October 6, it will expand its service that allows users to convert ‘Pointree’—the integrated reward points of KB Financial Group and Kona I—into local currency in collaboration with Kona I.

This service will be offered to KB Kookmin Card members as well as Kona I local currency members. With the addition of 36 local governments—including ‘Gyeonggi Local Currency’ and ‘Cheongju Pay’—the service will now be available on apps from a total of 54 local governments nationwide.

Members can convert their Pointree points into local currency and use them at local small business merchants. The conversion ratio is 1 Pointree to 1 won, and conversions can be made freely from as little as 10 Pointree, in units of 1 Pointree, up to a monthly maximum of 100,000 Pointree.

The two companies expect this to both expand the scope of Pointree usage and stimulate spending within local commercial districts. As customers convert their Pointree points into local spending, this is anticipated to boost sales of small businesses and revitalize neighborhood markets.

In addition, customers will be able to use their Pointree points in more diverse ways, while local governments can expect an increased stimulus for consumption within their regions. In particular, this partnership is meaningful in that it links financial benefits to the local economy, thereby contributing to local communities.

A KB Kookmin Card representative stated, "We have expanded the regions eligible for the local currency conversion service so customers can use their Pointree points more conveniently. We hope that as Pointree use translates into regional spending, it will help increase sales for small businesses and revitalize the local economy."

This content was produced with the assistance of AI translation services.