The Chai mobile payment application introduces block-based mobile payments in 13,500 CU stores in South Korea.
Chai, which operates in the Terra chain, will now be accepted as a means of payment in the main chain of public stores.
Application support will be added to the CU by the end of 2019, once Chai and the convenience store operator BGF Retail, which owns the stores, have established cooperation.
At launch, Chai will also offer low transaction fees for merchants and fixed discounts ranging from 5% to 10% for buyers thanks to seigniorage resulting from the growth of Terra's stable economy. The announcement also states that the application "is integrated with the seven main e-commerce platforms and the user base exceeds 450,000".
Finally, the company claims to have partnered with BC Card (reportedly the largest payment processor in South Korea) to launch a prepaid debit card in early 2020.
