[Gi Ha-yeong's Life Card] Contactless New Year's Money? ... Card Companies and Fintech Also Offer 'Easy Remittance'

Shinhan Card Launches MySonggeum Service
KakaoPay, Toss, and Other Fintechs Also Promote Easy Remittance

Is there anyone these days without at least one credit card? In modern society, anyone can have a card if they want. Credit cards have brought unparalleled convenience to daily life. Now, wherever you go, you can easily see people paying with credit cards or smartphones. As demand has increased, cards with various benefits are being released almost daily. In response, Asia Economy delivers diverse stories related to cards, which are inseparable from our consumer life, through the weekly 'Cards in Daily Life' corner, including introductions to new cards, behind-the-scenes industry stories, and guides for card beginners.

[Source=Yonhap News]

Due to the impact of COVID-19, it has become difficult for families and relatives to gather in one place, so many people have been considering 'contactless Sebaetdon' (New Year's money gifts via mobile remittance), right? According to the '2021 Lunar New Year Currency Supply Performance' data announced by the Bank of Korea, from January 28 to February 9, the number of cases exchanging old bills for new ones at Bank of Korea counters was 3,320, which is about half of last year's level.

This suggests that contactless Sebaetdon will become a new culture this year. Remittance services can be used not only through banks but also through card companies and fintech firms.

Shinhan Card operates the 'My Remittance (MySonggeum)' service. Its distinctive feature is that personal-to-person remittance is possible with a credit card even if there is no balance in the account. Through the Shinhan PayFAN application (app), you can send up to 200,000 KRW per day, 100,000 KRW per transaction, and a maximum of 1,000,000 KRW per month. Even if you are not a Shinhan Card member, you can receive remittance via a link sent through SMS or KakaoTalk message, and if you do not want to receive the remittance, you can refuse it.

There is also a My Remittance event ongoing. Until the 31st of next month, first-time users of My Remittance can get up to 15,000 KRW cashback. To participate, you must click 'Apply' on the event page during the event period and send at least 100,000 KRW each to acquaintances through the My Remittance service. Depending on the number of acquaintances you complete remittance to by the end of March, you can receive cashback of 3,000 KRW for 1 person, 6,000 KRW for 2 people, 9,000 KRW for 3 people, 12,000 KRW for 4 people, and 15,000 KRW for 5 people.

Although not domestic remittance, some card companies operate 'overseas remittance services.' This would be useful if you have family abroad. Lotte Card operates the 'Lotte Card Overseas Remittance' service via a mobile app. It covers 11 countries including the United States, Germany, Australia, and Vietnam, with fees ranging from 3,000 to 5,000 KRW per transaction depending on the country. Lotte Card is also running a zero-fee event for overseas remittance users until the end of this year. KB Kookmin Card provides overseas remittance services to a total of 14 countries including China, Singapore, and Vietnam. The fee is 3,000 KRW for amounts up to 1,000,000 KRW and 5,000 KRW for amounts exceeding 1,000,000 KRW.

With just a mobile phone number, you can also send and receive Sebaetdon through simple remittance services offered by fintech companies. KakaoPay offers special remittance envelopes containing Lunar New Year messages when sending Sebaetdon via remittance service until the 14th. You can also easily use remittance services without knowing account numbers through Naver Pay and Toss, among others.

Although physical distance has grown between family, relatives, and friends due to COVID-19, everyone surely wants to keep their hearts close. Until the day we can meet without worries, how about expressing your feelings through various contactless services?

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