Credit Card Society "Data and Metaverse Platforms Promising in the Future"
Regular Academic Conference on the 12th with the Theme 'Digital New Business and Platform Capability Enhancement Plans of Card Companies'
[Asia Economy Reporter Ki Ha-young] As digital platform development is expected to become a core competitive advantage for credit card companies in the future, an analysis suggests that data and metaverse-type platforms will be promising.
The Korea Credit Card Association held an online webinar regular academic conference on the 12th under the theme "Digital New Business and Platform Capability Enhancement Plans for Card Companies."
Professor Seo Ji-yong of the Department of Business Administration at Sangmyung University presented on the topic "Digital Platform Strategy of Credit Card Companies," stating, "Building a competitive platform for card companies will be the core competitive advantage in the future digital environment," and added, "Existing digital financial platforms such as app enhancement and simple payment platforms are likely to evolve into data platforms and metaverse platform forms."
Professor Seo said, "With the licensing of the MyData business as a turning point, card companies will create economic added value by utilizing various business opportunities based on data platforms that efficiently connect data suppliers and demanders," and forecasted, "Triggered by COVID-19, metaverse technology based on the new normal and augmented reality (AR) and virtual reality (VR) will be integrated into platforms, evolving into platforms that provide digital experience and content-centered financial services."
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Along with this, Shin Jong-chul, Executive Director of BC Card, gave a presentation on "Amendments to the Three Data Laws and Data New Business Strategies for Credit Card Companies." Executive Director Shin emphasized, "The amendments to the Three Data Laws and the utilization of personal information for the data industry are important," and attracted attention by explaining the background of BC Card recently acquiring the MyData business license from the Financial Services Commission and its future strategies.
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