Lotte Card Provides Financial Support to Merchants Affected by COVID-19
[Asia Economy Reporter Ki Ha-young] Lotte Card announced on the 5th that it will provide financial support services to small merchants affected by the novel coronavirus infection (Wuhan pneumonia).
Small merchants with annual sales of 500 million KRW or less, whose damage due to the novel coronavirus has been confirmed, will be granted a deferment of credit card payment claims through individual consultations. In addition, if affected merchants use long-term card loans (card loans), support will be provided for changes in repayment conditions and interest rate reductions.
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Furthermore, if affected merchants are overdue, debt collection will be suspended for three months from the time the damage is confirmed, and support will be provided for installment repayments and reduction of late fees. Applications and consultations for this financial support can be made through the Lotte Card Customer Center or Lotte Card Center.
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