Kbank has introduced a QR code-based account transfer payment system at lottery retailers nationwide in cooperation with Donghaeng Lottery. Retailers can use the service without separate usage fees.

Kbank said on Sept. 22 it introduced the QR payment system at lottery retailers nationwide in cooperation with Donghaeng Lottery and Apply, a QR-based easy remittance platform operator. More than 90 percent of about 10,000 lottery retailers nationwide can now use the service.

The system was built by combining Apply's QR easy remittance technology with Kbank's financial infrastructure. It adds account transfer payments to offline lottery purchases that have been centered on cash, improving customer payment convenience and supporting retailers' payment and settlement work.

To use it, customers scan the QR code on a gold QR guide sign at the retailer and select the financial institution and purchase amount on the linked remittance web page. They can then complete payment by moving to the transfer screen in that financial institution's app.

The service can be used through internet banks including Kbank, as well as commercial banks, local banks and the post office. For Kbank customers, the retailer's account number and account holder are entered automatically.

Kbank and Donghaeng Lottery also plan to run an event in the fourth quarter to provide annuity lottery exchange vouchers worth 5,000 won to customers who use QR payments.

A Kbank official said combining a small company's QR easy remittance technology with Kbank's financial infrastructure reduced the burden on lottery retailer small business owners and improved customer payment convenience.