Woori Card Secures Merchant Identification System... Completes Phase 1 of Private Network Construction

[Asia Economy Reporter Yu Je-hoon] Woori Card announced on the 31st that it has secured a merchant identification system framework as the first phase of building its own payment network.

On the 29th, Woori Card held an internal resolution event at its headquarters in Gwanghwamun, Seoul, to commemorate the acquisition of the system and to complete a perfect payment system. President Kim and all executives attended, pledging to continuously strengthen their core business competitiveness.

With the acquisition of this merchant identification system framework, Woori Card can now independently distinguish individual merchants, enabling the activation of customized services for merchants through business cards and loans. Based on the completion of this first phase, Woori Card plans to swiftly respond to various payment changes and secure new digital-based business opportunities such as hyper-personalized marketing using merchant data, individual business credit (CB), and MyPayment.

A Woori Card official stated, "Based on the 'strengthening of subsidiary core business competitiveness' ordered by Sohn Tae-seung, Chairman of Woori Financial Group, we will establish the foundation for building our own payment network and the sustainable growth of the card market," adding, "We also expect to further enhance benefits for customers and merchants.”

Meanwhile, Woori Card will hold a generous prize event until the end of September this year. For merchants who join Woori Card’s exclusive merchant network, prizes will be drawn and awarded as follows: ▲ 65-inch TV (1 winner) ▲ Bespoke refrigerator (3 winners) ▲ Commercial vacuum cleaner (20 winners) ▲ Mobile fuel voucher worth 50,000 KRW (300 winners) ▲ Starbucks Americano coupon (1,000 winners).

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