BC Card, the largest payments processor in South Korea, is now using KT’s blockchain technology to settle rewards points. BC Card processes the ordering and exchanging of points paid out by affinity partners, VIP points and vouchers.
BC Card earlier handled the rewards manually but in the first half of 2019, it began to develop a blockchain application to do the work. The company reports a decrease in processing times as much as 50%, along with a decline in error count. The company plans to use the blockchain technology to additional tasks in the future.