Shinhyup Partners with Visa to Launch First Overseas Check Card

Patrick Yoon, President of Visa Korea (left), and Song Jae-geun, CEO of the Credit Guarantee Business at the National Credit Union Federation of Korea, pose for a commemorative photo after signing a business agreement at the National Credit Union Federation of Korea Seoul Office on the 22nd. Photo by National Credit Union Federation of Korea

[Asia Economy Reporter Song Seung-seop] The National Credit Union Federation of Korea (NACUFOK) announced on the 23rd that it will launch its first overseas check card in April in partnership with the global credit card company Visa.

On the previous day, NACUFOK signed a 'NACUFOK Check Card Overseas Payment Service Business Agreement (MOU)' with Visa at the NACUFOK Seoul office. The signing ceremony was attended by Song Jae-geun, CEO of NACUFOK Credit Guarantee Business, Patrick Yoon, President of Visa Korea, and other officials from both companies.

Through the agreement, Visa will provide NACUFOK with ▲ Visa license and payment network authorization ▲ sharing of marketing know-how ▲ joint marketing for the new overseas check card, among other support. Various promotions will also be conducted upon launch.

Song Jae-geun, CEO of NACUFOK Credit Guarantee Business, emphasized, "As domestic online and offline payments as well as overseas direct purchases diversify card consumption patterns, the need for overseas payment is increasing. Through collaboration with Visa, which has the most reliable payment network, we will provide our members with a smoother payment environment."

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