"Grab Card Benefits During Gwanggunje and Black Friday"... Card Industry Opens Customers' Wallets (Comprehensive)

Credit Card Companies Launch Event Flood to Attract Overseas Direct Purchase Shoppers

On the 4th, overseas direct purchase items bought by domestic consumers during the Black Friday period are piled up at the Incheon Customs Express Logistics Center in Jung-gu, Incheon. / Yeongjongdo - Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Ki Ha-young] Card companies have launched campaigns to open customers' wallets in November, the peak shopping season. This month features events such as Korea Sale Festa (1st-15th), Guanggunje (11th), and Black Friday (27th). With consumer sentiment weakened by the novel coronavirus disease (COVID-19), card companies are offering cashback events and various discounts to capture the hearts of overseas direct purchase shoppers during this shopping festival.

According to the card industry on the 3rd, NH Nonghyup Card will conduct cashback and discount promotions for customers using overseas direct purchase ahead of Black Friday.

The Black Friday cashback promotion offers cashback when paying for overseas direct purchases at three stores: Amazon, YOOX, and MatchesFashion. During the event period, if the combined overseas spending at the three merchants reaches 200,000, 500,000, 800,000, or 1,000,000 KRW or more, cashback of 10,000, 30,000, 50,000, or 70,000 KRW will be provided based on the highest amount. The event runs until the 30th, and benefits will be provided by the end of December.

To participate in the cashback promotion, customers must pre-register for the event via the website or the Card Smart application (app), and payments must be made through the linked shortcut site on the event page to apply the benefits.

An AliExpress discount event is also underway. During the Guanggunje event period, from 5 PM on the 11th to 4:59 PM on the 13th, customers paying $50 or $100 or more on AliExpress can receive immediate discounts of $10 or $25, respectively. The same discount applies to payments made from 5 PM on the 23rd to 4:59 PM on the 28th during the Black Friday event period.

The overseas direct purchase promotion applies to NH Nonghyup overseas dual-use cards (Chaeum) and excludes NH BC, corporate (individual business owner), prepaid, gift, and domestic-only cards. For the AliExpress discount event, UPI (UnionPay) cards are also excluded.

Hana Card is also conducting various events on its own overseas direct purchase specialized platform, 'Overseas Direct Purchase Lounge.' Throughout November, discount events are held for customers holding Hana credit or check cards in collaboration with AliExpress, Amazon, and iHerb.

On AliExpress, during the period, customers who spend $50 or more cumulatively receive $7 cashback, and those who spend $100 or more receive $12 cashback. Additionally, during the Guanggunje period (11th-13th), customers accessing AliExpress through the Hana Card Overseas Direct Purchase Lounge and applying the promotion code will receive an additional $5 discount on purchases over $30. Notably, when using the Hana JCB card for purchases over $35, an immediate $6 overlapping discount applies, allowing up to $23 in total discounts.

Capturing Overseas Direct Purchase Shoppers... Card Companies Flood with Cashback and Discount Events

On Amazon, during the period, customers spending $50 or more cumulatively receive $5 cashback, and those spending $100 or more receive $10 cashback. Additional discount events are planned for Black Friday.

On iHerb, customers spending $50 or more cumulatively receive $5 cashback, and those spending $100 or more receive $10 cashback. Moreover, customers holding Hana Visa cards can use the promotion code (IHERBVISA45) to receive an additional 12% immediate discount on purchases over $45, which can be combined with other offers.

Additionally, the Overseas Direct Purchase Lounge operates a 'Free Overseas Direct Purchase Insurance Service.' This service provides free compensation up to 300,000 KRW per purchase per person, up to three times annually, covering non-delivery, damage, and returns. Importantly, the insurance service also covers returns due to simple change of mind.

Lotte Card has also joined the events. To celebrate Korea Sale Festa, from the 6th to the 8th, customers who pay 400,000 KRW or more in total brand purchases on the same day at Lotte Department Store using Lotte Card via the L.PAY app will receive one of 20,000, 30,000, or 40,000 L.Points randomly. Participation is limited to once per person per day.

At Lotte Mart, a special coupon book is provided until the 22nd, consisting of three weekday (Mon-Fri) 5,000 KRW discount coupons and four weekend (Sat-Sun) 8,000 KRW discount coupons, depending on the purchase amount. Lotte Home Shopping and Lotte iMall discount events are also underway. On the 2nd, a 5% discount applies for payments over 50,000 KRW, and 7% for payments over 150,000 KRW on the payment date. On the 3rd, a 5% discount applies on the payment date for purchases over 50,000 KRW of large home appliances, computers, and cameras.

For Guanggunje and Black Friday, AliExpress immediate discount events are also held. When paying $100 or more per transaction on AliExpress with a Mastercard-branded Lotte personal credit card, a $20 immediate discount is applied. The Guanggunje immediate discount event runs from 5 PM on the 11th to 4:59 PM on the 13th for the first 4,500 customers, and the Black Friday immediate discount event runs from 5 PM on the 23rd to 4:59 PM on the 28th for the first 2,500 customers. The discount benefit is provided only once per AliExpress ID.

A card industry official said, "We have prepared various events to help customers practice smart consumption during the shopping-filled November," adding, "Especially this year, we have strengthened online benefits in line with the non-face-to-face consumption trend."

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