Full QR-based payment flow demonstrated at actual CU store

Digital wallet linked to merchant via blockchain transaction verification

Payment and settlement infrastructure developed ahead of legalization

[KB Kookmin Card]
[KB Kookmin Card]

KB Kookmin Card has completed a pilot demonstrating stablecoin payments at an actual convenience store, bypassing the conventional card payment network. The company is building payment infrastructure that directly connects digital wallets to offline merchants in preparation for the potential legalization of stablecoins.

KB Kookmin Card said Monday it had finished testing an on-chain network-based stablecoin offline payment system at a CU store. BGF Retail, Nice Information & Telecommunication and AhnLab Blockchain Company took part in the pilot.

The pilot reproduced the full payment process in a real store environment, with a customer using stablecoins held in a digital wallet to purchase products at CU. After selecting items, the customer scans a QR code generated at checkout with their digital wallet, triggering a stablecoin payment request and transfer. The blockchain transaction result is then relayed to the payment system, which updates the store's terminal to confirm the completed payment.

The system bypassed the existing card payment network entirely, linking a blockchain-based digital wallet directly to CU's in-store kiosks and payment infrastructure. The pilot verified the entire offline payment flow in a real environment — from QR code generation and stablecoin transfer to blockchain transaction confirmation and merchant payment completion.

The card industry has been validating payment infrastructure in anticipation of the legalization of a won-denominated stablecoin. In July, the Credit Finance Association and nine domestic card companies concluded a joint proof-of-concept study conducted over roughly a year, confirming the technical feasibility of the full payment cycle — from stablecoin issuance and distribution to payment approval, cancellation and refunds, transaction monitoring, and settlement and risk management. Since that joint verification, the industry has moved into a phase of testing more concrete use cases, including actual merchant payments.

KB Kookmin Card plans to examine a range of payment models in preparation for the possibility that stablecoins could become a mainstream regulated payment instrument. The company will also develop its payment and settlement infrastructure for real-world service deployment in line with relevant laws, regulations and supervisory guidance.

"This pilot is significant in that it went beyond implementing stablecoin payments within an internal system and verified the entire payment process in an actual offline merchant environment," a KB Kookmin Card official said. "Going forward, we will prepare a payment environment that leverages the strengths of the existing card payment infrastructure while connecting digital wallets to merchants, in readiness for the potential use of stablecoins as a new payment instrument."


snsd@heraldcorp.com