Hyundai Card M Points Accumulation and Usage Soar Over 5 Years

[Asia Economy Reporter Yu Je-hoon] Over the past five years, the accumulation and usage of M Points by Hyundai Card members have increased significantly. Hyundai Card explained that this is the result of continuously launching credit card products with high point accumulation rates and diversifying the places where points can be used.

Hyundai Card announced on the 15th that an analysis of M Points usage data from members over the recent five years (2017?2021) showed that both the amount of points accumulated and the scale of points used by customers have greatly increased.

According to Hyundai Card, the M Points accumulated by members reached 502.3 billion points last year, a 5.4% increase compared to five years ago. Points used also rose by 6.3% to 462.3 billion points. The annual usage rate compared to accumulation is 93%, which is the highest level domestically. In particular, the average annual points used per member who used M Points at least once a year has steadily increased. This figure was 128,061 points last year, a 9.0% increase compared to five years ago.

Hyundai Card cited the release of credit card products with high accumulation rates and the discovery of various usage places as reasons for the increase in M Points accumulation and usage. In fact, the accumulation rate of 'M BOOST,' a representative points-type product launched by Hyundai Card last year (based on an average monthly spending of 850,000 KRW), is 1.38%, which is up to 50% higher than major domestic credit card companies' points-type products.

Hyundai Card has continuously expanded usage places to enhance customer convenience. The number of M Points usage locations increased by 60.3%, from about 37,000 places in 2017 to about 59,300 places in 2021. Along with this, in line with changing consumption trends, various specialized services such as meal kit and home meal replacement (HMR) services like 'CJ Cookkit,' freelancer market 'Kmong,' and sashimi delivery service 'Oneulhoe' have been added as M Points usage places.

A Hyundai Card official stated, "By focusing on the basics of point benefits?accumulation and usage?and continuously following the ever-changing needs of customers, M Points has established itself as a leading points system in Korea," adding, "We plan to integrate Hyundai Card’s data science and artificial intelligence technologies to provide even greater benefits."

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