Shinhan Card Launches Rental Brokerage Platform 'MyRentalShop'

Small and Medium Business Rental Processing Agency
All Cards and Bank Transfers Accepted on Payment Platform

Attending the partnership signing ceremony are Kostech CEO Min Kyung-won (from left), Pureway CEO Lee Yosep, Bokjeong Formulation (Kojima) Vice President Hyun Yong-cheol, Sungwoo Meditech CEO Park Choong-hwa, Shinhan Card Life Information Group Vice President Ahn Joong-sun, Lucoms Electronics CEO Kim Myung-soo, and Shinhan Card Life Business Headquarters Director Park Chang-hoon, posing for a commemorative photo.

[Asia Economy Reporter Ki Ha-young] Shinhan Card announced on the 2nd that it will launch 'My Rental Shop (My렌탈#),' a platform that supports small and medium-sized manufacturers and distributors in easily selling rental products to consumers.

My Rental Shop is a rental platform based on win-win cooperation, where small and medium-sized enterprises producing and distributing excellent products can have Shinhan Card handle rental screening, electronic contracts, billing, deposits, and account management without establishing a separate rental processing system. It was selected as an innovative financial service by the Financial Services Commission last February.

The biggest feature is that it provides customized advanced credit evaluation models of Shinhan Card to client companies joining the platform, minimizing risks associated with rental operations and reducing related cost burdens.

Additionally, by utilizing the business infrastructure established by Shinhan Card, client companies can bear reasonable rental processing fees. It is also notable that the platform has an open structure that accepts payments from all cards and bank transfers.

Shinhan Card recently signed business agreements with five companies: Lucoms Electronics, Bokjeong Jehyeong (Cozima), Seongwoo Meditech, Costech, and Pureway. These companies are small and medium-sized enterprises specializing in manufacturing and distributing general home appliances, massage chairs, and imported electronics. Through participation in My Rental Shop, they can newly enter the rental business, which had been difficult to access due to high entry barriers. Furthermore, joint marketing plans targeting Shinhan Card members for rental products from My Rental Shop partner companies will also be carried out.

A Shinhan Card official stated, "Through this launch, we expect an expansion of rental usage experiences for customers along with increased participation from more companies, in line with the consumer trend shifting from ownership to sharing."

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