Woori Card Begins 'Independent Merchant Network Construction'... "Aiming for 2.5 Million Merchants"

Completion of Reader System Construction by the End of Next Year
Plan to Attract 2.5 Million Franchise Stores in the Future

[Asia Economy Reporter Ki Ha-young] Woori Card announced on the 21st that it will actively proceed with the establishment of an independent merchant network to strengthen its core business competitiveness and ensure sustainable future growth.

The company plans to recruit 2.5 million Woori Card merchants and complete an independent merchant system by the end of next year. In July, Woori Card set up a basic plan for building the independent merchant network and recently conducted consulting on the system construction framework and strategy.

Through this establishment, Woori Card expects to enhance its core business competitiveness based on its card business. It plans to strengthen product competitiveness by composing an independent card product lineup and expand marketing to online and large retail merchants to provide more benefits to customers.

Additionally, it will offer total financial services linked with Woori Financial Group affiliates, such as merchant-specialized customized cards and financial services for individual business owners, and is expected to contribute to the actual sales increase of merchants through commercial district analysis and merchant marketing support targeting Woori Card customers.

Through this independent merchant network establishment, Woori Card plans to respond swiftly to various payment changes, secure new digital-based business opportunities such as hyper-personalized marketing using merchant data, individual business owner credit scoring (CB), and MyPayment. It also expects group synergy to expand through linked sales of products from Woori Financial Group affiliates, including banks.

A Woori Card official stated, "The establishment of an independent payment network has been a matter steadily discussed since Woori Card spun off from Woori Bank in 2013 and has recently been concretized and officially launched," adding, "We will strive to successfully complete this project to enhance benefits for customers and merchants in the future."

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