GCMC of EBC Alliance Signs a MOU with NICE TCM for Tax Refund Kiosk

GCMC (Representative: Julius Han, COO of EBC Foundation and CEO of GCMC) has signed an MOU for business with Chain Refund (incubated by EBC Foundation) and NICE TCM to accelerate the tax refund business on August 10.

The MOU will focus on the structure and design of the tax refund Kiosk system, the development and supply of tax refund kiosks, and the close cooperation with the three companies in the overseas market. It aims to supply and commercialize the kiosks at overseas airports.

GCMC is a company that provides DCC (Dynamic Currency Conversion) service for travelers worldwide and is part of the EBC Alliance that aims to provide tax refund with EBCoin. GCMC is conducting a ‘tax refund’ project with EBC Foundation that offers convenience for foreign travelers.

GCMC, which led the MOU, plans to design, develop and distribute tax refund kiosks that will provide convenience for global travelers who want to receive tax refunds at airports. The company will conduct business through close cooperation with NICE TCM who has the technology to develop the kiosk, and Chain Refund that develops blockchain tax refund APP.

Shipments of kiosks in NICE TCM reached 1,580 units in 2017. The company has been a leading company in the kiosk business for the tax refund in South Korea with the largest market share. Starting from Incheon International Airport in 2018, the NICE TCM has already supplied about 200 tax refund kiosks to the domestic market. Through this three-way MOU, they will solve existing problems, such as local security certification, logistics cost reduction, maintenance of kiosk system, and connection to local servers in order to expand their business areas across the world.

GCMC has recently established the partnership with EBC Foundation, Oniontech, and Chain Refund to jointly promote the blockchain based global tax refund business.

original article can be found here (Korean): http://news.mt.co.kr/mtview.php?no=2018081012565568230