Shinhan Card Surpasses 10 Million Touch Payments... "Receive 10,000 Points"

'Token Service' Scheduled for Launch Next Month
Offline Payment Service to Be Offered Overseas as Well

[Asia Economy Reporter Ki Ha-young] Shinhan Card announced on the 2nd that its mobile device offline payment service, 'Shinhan Payfan Touch Payment,' launched in June last year, has surpassed 10 million cumulative uses. This achievement was reached within one year of its launch, with a transaction amount totaling 250 billion KRW.

The Touch Payment service is a mobile device offline simple payment service developed in collaboration with Samsung Electronics last year, making Shinhan Card the first credit card company to offer such a service. In November, the service expanded its scope through collaboration with LG Electronics, enabling Touch Payment on major LG smartphones as well. The service is characterized by allowing users to conveniently make payments at all offline merchants without a physical card, using only the Shinhan Payfan application (app) on their smartphones.

To commemorate the 10 million cumulative uses, Shinhan Card is conducting the 'Thanks to You, Ten Million' event for customers using Touch Payment. Until the end of this month, customers who use Touch Payment and apply for the event through the Shinhan Payfan app will be entered into a draw where 1,000 winners will receive 10,000 My Shinhan Points each.

Additionally, customers who spend over 100,000 KRW using Touch Payment at Oak Valley Resort (Wonju-si, Gangwon-do) will receive a 5,000 KRW cashback; those who spend over 15,000 KRW at Mr. Pizza will get 2,000 KRW cashback; spending over 10,000 KRW at Dunkin' Donuts will earn 6,000 KRW cashback; and payments over 10,000 KRW at Tous Les Jours will receive 2,000 KRW cashback.

Shinhan Card is currently developing a 'Token Service' that allows simple smartphone payments through Shinhan Payfan at overseas offline merchants. This service, scheduled to be launched next month, enables convenient mobile payments abroad without the need for a physical brand card. Furthermore, the company plans to release a service that allows Touch Payment via an artificial intelligence (AI) voice command service.

Yoo Tae-hyun, Head of Digital First Division at Shinhan Card, stated, "Based on the iPhone Touch Payment beta test, we will add various features to develop the service into one that provides greater customer satisfaction."

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