Samsung Card Supports COVID-19 Impacted Merchants... "Shortening Payment Cycle for Franchisees"

Marketing Support Through LINK Biz Partner
Payment Deferral for Affected Members
Interest-Free Installment Support for All Merchants

[Asia Economy Reporter Ki Ha-young] Samsung Card announced on the 5th that it will provide special support for merchants and customers affected by the novel coronavirus infection (Wuhan pneumonia).

Support will be provided to merchants and customers whose damages have been confirmed due to hospitalization, quarantine, business suspension caused by confirmed cases visiting, etc. due to the novel coronavirus, including shortening the payment cycle for merchants and deferring payment claims.

First, for merchants whose damages have been confirmed, the payment cycle for merchant fees will be shortened by 1 day (previously D+2 days for merchants). In addition, for customers whose damages have been confirmed, support such as deferring payment claims for up to 6 months, interest-free installments for 2 to 6 months across all industries, and up to 30% discount on loan interest rates when using card loan products will be provided.

Regardless of damage confirmation, Samsung Card will offer interest-free installments for 2 to 3 months at hospitals and pharmacies, and 2 to 5 months at general hospitals to all Samsung Card members.

For daily life-related industries, interest-free installments for 2 to 3 months will be provided for discount stores, eyeglasses, and academies, and 2 to 4 months for clothing. In addition, marketing support for merchants will be provided through Link Biz Partner, a big data-based win-win marketing platform for small and micro merchants.

This content was produced with the assistance of AI translation services.