7-Eleven Joins South Korea's Digital Currency Experiment, Offering 10% Discount to CBDC Users – Could This Be the Future of Payments?

7-Eleven Joins South Korea’s CBDC Pilot Programme with Discount Incentives

7-Eleven stores across South Korea are set to accept payments in the country’s central bank digital currency (CBDC) as part of a new government initiative aimed at testing digital currency use in everyday transactions.

The company will be a key player in South Korea’s CBDC testing phase, offering a 10% discount on all products purchased using the digital currency between April and June 2025.

Promoting Digital Transformation through CBDC Integration

Moon Dae-woo, head of 7-Eleven’s digital innovation division, shared that the company is excited to take part in the trial, noting the firm’s commitment to incorporating emerging digital technologies into its operations.

Moon stated that this participation marks a crucial step in accelerating 7-Eleven's digital transformation, emphasising the importance of innovation for better customer experiences and competitive advantage.

A 7-Eleven store in Seoul

CBDC Pilot Programme Expands Across South Korea

The Bank of Korea, alongside other financial bodies such as the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS), launched the CBDC pilot programme on 1 April 2025.

With 100,000 registered participants, the project allows users to convert their bank deposits into tokens that retain the same value as the South Korean won.

These tokens can then be used for transactions in participating stores, including 7-Eleven, coffee shops, supermarkets, and K-pop merchandise outlets.

Payment made using deposit tokens through Shinhan Bank's mobile app at the Ediya Coffee IBK headquarters in Jung-gu, Seoul.

Bank customers over the age of 19 can apply to take part, with registrations limited to 100,000 participants.

The pilot phase will run until 30 June 2025, giving users the opportunity to test out this new payment method.

During this period, a participant can convert up to 5 million won (approximately $3,416) into CBDC tokens.

South Korea’s Efforts to Regulate Digital Payments and Financial Innovation

The CBDC trial represents a significant step in South Korea’s broader push to modernise and regulate its digital economy.

The government sees CBDCs as a tool to enhance the security and efficiency of digital payments, providing a safer alternative to traditional cash transactions while avoiding the volatility often associated with cryptocurrencies like Bitcoin.

Source: BIS

As part of the pilot, the Bank of Korea and the FSS are laying the groundwork for what could eventually become a more widely adopted digital payment system in the country.

Widespread Business Participation Signals Shift Towards Digital Payments

Beyond 7-Eleven, numerous businesses across South Korea are expected to join the CBDC testing phase, including coffee shops, supermarkets, and delivery platforms.

This broad participation suggests that the transition to CBDC payments could soon become a familiar part of everyday life for South Koreans.

With the pilot programme gaining traction, more companies are likely to follow 7-Eleven’s lead in integrating CBDC as a viable payment option for consumers.

By offering incentives such as the 10% discount for CBDC users, 7-Eleven aims to encourage widespread adoption of this new payment method during the test phase.

This move also serves as a statement of the company’s commitment to staying ahead in the digital payment revolution, helping shape the future of financial transactions in South Korea.