Points as good as cash... 'Baemin Hyundai Card' Released

[Asia Economy Reporter Moon Hyewon] Woowa Brothers, the operator of Baedal Minjok, announced on the 19th that they will launch Korea's first Baemin customized card, the ‘Baemin Hyundai Card’.

The Baemin Hyundai Card is a Private Label Credit Card (PLCC) that focuses on providing Baemin Point benefits, which can be used like cash within the Baemin application (app). A PLCC is a card jointly designed and operated by a company that wants to have its own exclusive credit card in collaboration with a card company. Baemin signed a related agreement with Hyundai Card last July.

When paying after registering Baemin Pay in the Baemin app, 3% of the payment amount is accumulated as Baemin Points with the Baemin Hyundai Card. The 0.5% Baemin Points, which are basically provided when using Baemin Pay, are accumulated separately.

To enhance convenience and usability of the card, 2% of the payment amount is accumulated as Baemin Points when using 13 major domestic online shopping malls and 6 digital content services. For other general merchants, 0.5% of the payment amount is accumulated as Baemin Points. Especially, for the first 6 months, an additional 1% promotional points for online shopping malls and 0.5% for general merchants will be accumulated respectively.

The card design, which contains Baemin’s unique lively sensibility, also draws attention. Baemin cleverly utilized the ‘Baedal-i’ character along with food images such as tteokbokki, fried egg, mackerel, and gim in a total of 8 card designs.

Baemin and Hyundai Card also prepared additional benefits for Baemin Hyundai Card members. Until December 31 of this year, all members holding the Baemin Hyundai Card will receive two Baemin coupons worth 10,000 won each, and customers who register the card on Samsung Pay and make regular payments such as electricity bills and communication fees will receive a billing discount of up to 45,000 won.

The Baemin Hyundai Card can be applied for through the Baemin app, and the annual fee is 10,000 won for both domestic-only and domestic/international combined (Mastercard). If you pay more than 100,000 won annually with Baemin Pay, the annual fee for the following year is waived.

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