Hanacard, Financial Service Restructuring... "Leap to a Comprehensive Digital Payment Company"

Business Restructuring Aligned with Digital Trends and Financial Service Operation Plans Reflecting Customer Needs

[Asia Economy Reporter Ki Ha-young] Hana Card is reorganizing its financial service business area in line with digital trends to leap forward as a comprehensive digital payment company this year.

On the 4th, Hana Card announced its '2021 Financial Service Strategy and Execution Plan,' aiming to reorganize its business according to digital trends and operate financial services reflecting customer needs. The plan is to secure customers' financial data through various financial products and utilize it in financial sales, marketing, and risk management to strengthen profitability.

Hana Card is enhancing benefits for existing financial customers through its premium membership system. When selected as a premium member, various preferential benefits are provided, such as annual fee reductions, interest-free installments at affiliated stores, and special discounts and privileges at luxury hotels. Premium membership is granted upon achieving certain scores, with additional preferential points awarded for using long-term card loans (card loans), short-term card loans (cash services), and revolving credit. Additionally, customers who repay card loans without delinquency and reuse them receive mobile coupon benefits such as coffee and fuel, along with a 20% interest rate discount compared to the existing rate.

Since last year, Hana Card has sequentially introduced financial service interest rate preferential programs for credit sales usage amounts, 1Q Pay usage performance, and Hana Bank payment account usage. ▲ A 0.5%p interest rate discount for using credit sales amounts of 500,000 KRW or more last month ▲ A 1.0%p interest rate discount for using 1,000,000 KRW (2.0%p for revolving credit) ▲ A 0.5%p interest rate discount for using 1Q Pay last month ▲ A 0.5%p interest rate discount for using Hana Bank payment accounts, providing up to a maximum benefit of 3.0%p.

In May last year, Hana Card also launched and is operating 'Pay Planner,' an artificial intelligence (AI) digital financial service that recommends financial products tailored to customers' funding needs on card payment dates. Through Pay Planner, the customer's monthly card usage amount is analyzed, and optimized financial products are recommended accordingly.

Furthermore, starting with automobile installment payments and general credit loans, Hana Card is pursuing diversification of its revenue portfolio by entering various new financial businesses. Last month, Hana Card introduced two new products, 'Auto Installment' and 'Auto Loan,' in the automobile installment finance market, which is approaching an asset size of about 30 trillion KRW. Additionally, by launching credit loans for non-members and mid-interest loans, Hana Card plans to complete its lineup of automobile financial products such as leasing, rental cars, and automobile-secured loans within the next two years, and to launch new financial products that can diversify revenue, such as stock loans and factoring.

Kim Ki-hoe, Head of Finance at Hana Card, said, "We plan to discover new services and businesses in the financial service area so that Hana Card customers can enjoy more convenience and benefits," adding, "We aim to quickly establish ourselves as a comprehensive digital payment company by completing a platform business that connects cards and finance."

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