From Aviation to Webtoons... Unique PLCC Competition in the Card Industry

[Asia Economy Reporter Eunju Lee] The card industry has begun searching for hit products that can attract a large user base from specific brands. The competition to launch unique PLCCs (Private Label Credit Cards) is in full swing. Collaborations are being explored with various brand companies, including coffee brands, webtoons, and airlines.

On the 7th, Lotte Card collaborated with Naver Financial and Naver Webtoon to release a limited edition card. They launched a limited edition card featuring images from the popular Naver Webtoon series "Yumi's Cells." The card is called the Naver Pay Shopping Enroca Yumi's Cells Edition.

Applications for the limited edition card are available until August next year through the Naver, Naver Pay, and Naver Webtoon apps and websites. The Naver Pay Shopping Enroca card offers an unlimited long-term installment service of up to 36 months at Naver Pay affiliated stores. The long-term installment service is available for payments over 300,000 KRW, with options for 12, 18, 24, or 36 months (installment interest rate of 6.9%).

When using the Naver Pay long-term installment service, users can earn Naver Pay points during the installment payment period. For example, if the usage amount last month was 300,000 or 700,000 KRW, 10,000 or 15,000 points are credited once a month. Even without using the long-term installment service, if the usage amount last month exceeds 300,000 KRW, users receive a 1% Naver Pay point accumulation benefit without limits at domestic and international online and offline affiliated stores. The annual fee is 10,000 KRW.

Shinhan Card is promoting a credit card equipped with a membership by collaborating with an overseas airline. Shinhan Card signed a business agreement to develop a PLCC product and conduct joint marketing with Singapore Airlines, and will launch a credit card equipped with Singapore Airlines' loyalty program, "KrisFlyer," membership.

"KrisFlyer" is the loyalty program of the Singapore Airlines Group, allowing users to accumulate mileage when flying with Singapore Airlines and its subsidiary Scoot Airlines, which can be used for future flights. Mileage can also be earned through various partner companies such as dining and shopping.

In particular, the program offers advantages such as exemption from peak season surcharges and an award chart tier system, making reservations easier. Depending on customer tier, preferential services such as airport lounge access, priority boarding and baggage handling, and personalized services are available. In the future, the Singapore Airlines PLCC will provide membership benefits through automatic enrollment in the "KrisFlyer" program upon issuance and include mileage accumulation services based on card usage.

Hana Card will launch a PLCC dedicated to the coffee franchise "Ediya Coffee." The PLCC plans to meet the diverse needs of its target customers by offering not only Ediya Coffee specialized services but also lifestyle services aligned with recent trends.

Additionally, strategic agreements focusing on the introduction of OneQ Pay payment and big data marketing will be strengthened. OneQ Pay payment will be introduced at over 3,000 offline Ediya Coffee stores nationwide. All customers, including iPhone users, will be able to make payments using Hana Card's mobile simple payment service, OneQ Pay.

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