Visa, Fintech Collaboration Becomes Visible... Launch of 'Toss Credit Card'

New Partnership Credit Card Issued by Toss to Launch Under Visa Brand

[Asia Economy Reporter Ki Ha-young] Visa announced on the 10th that it has signed a product contract with Viva Republica, which operates the mobile financial service 'Toss,' and will launch the 'Toss Credit Card' equipped with Visa Platinum-level Young Premium services. According to this contract, all new partnership credit cards from Toss will be released under the Visa brand.

Since Toss's main customer base is the 20s and 30s generation, Visa supports the Young Premium service, which is only provided for products at the Platinum level or higher. The Young Premium service reflects the needs of domestic millennial consumers and offers discounts, point accumulation, and additional service benefits in various fields such as dining, online-to-offline (O2O) lifestyle, and shopping. Representative services include special discounts on Hotels.com, Jin Air fast check-in and priority baggage handling services, and discounts on domestic boutique hotel stays and F&B services.

The Toss Credit Card offers a special Toss Money cashback benefit of up to 3% of the payment amount within the maximum cashback limit regardless of the previous month's usage performance for all overseas merchant payments until the end of this year. When withdrawing cash from overseas ATMs, a fee waiver equivalent to $3 per transaction is also provided. For the first three months after registration, up to 3% cashback on payment amounts within a monthly limit of 100,000 KRW is given, and thereafter, 0.5% to 1.5% cashback is paid the following month based on usage performance.

Patrick Yoon, President of Visa Korea, said, "In the rapidly changing digital finance market, we continue to closely cooperate with leading domestic fintech companies to provide customers with more convenient payment experiences and the best services." He added, "Starting with the launch of the Toss Credit Card, we will strive to introduce more innovative services and products."

The Toss Credit Card, officially launching on April 1, will be available in four colors with an annual fee of 10,000 KRW. A pre-registration event will be held until the 22nd, and non-members can apply after installing the Toss app.

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