Shinhan Bank Delivery App 'Ttaenggyeoyo' Surpasses 1 Million Members in 8 Months... Ranks 4th in MAU

Surpassing 1 Million Members by End of August... Monthly Active Users (MAU) Reach 590,000
Securing 40,000 Franchise Stores and Adding Financial Synergy

[Asia Economy Reporter Yu Je-hoon] Shinhan Bank announced on the 15th that its delivery application 'Ttaenggyeoyo,' the first in the financial sector, surpassed 1 million members just 8 months after its launch. First introduced in January, Ttaenggyeoyo is a win-win delivery app with the slogan 'Our neighborhood delivery app where you live and I live,' providing benefits to all platform participants including customers, small business owners, and delivery riders.

Over the past 8 months, the number of Ttaenggyeoyo members grew 54 times from about 18,000 at the end of January to 1 million as of the 9th. The monthly active users (MAU) provided by Mobile Index reached 590,000 at the end of last month, a fourfold increase compared to June. This surpasses Baedal Teukgeup, currently ranked 4th in monthly users among delivery apps. Shinhan Bank expects to achieve its annual target of 1.2 million members early this month.

The bank explained that the main growth factors of Ttaenggyeoyo are ▲ linkage with financial services ▲ Seoul Love Gift Certificate payment service ▲ benefits for Ttaenggyeoyo affiliated stores ▲ various events for Ttaenggyeoyo members. Shinhan Bank has launched financial services such as delivery rider loans (2 billion KRW), Ttaenggyeoyo exclusive cards (13,000 accounts), and Ttaenggyeoyo savings deposits (8.5 billion KRW) through Ttaenggyeoyo, receiving positive responses.

Additionally, Ttaenggyeoyo joined the Zero Delivery Union operated by Seoul City, allowing customers to purchase 'Seoul Love Gift Certificates' at a 7-15% discount and combine it with Ttaenggyeoyo coupon discounts for cheaper delivery service prices compared to other companies. Since July, an event to promote the 'e-Seoul Love Gift Certificate,' purchasable via Shinhan SOL, has been held, achieving sales of 60,000 cases (940 million KRW).

In particular, Shinhan Bank signed a separate business agreement with Gwangjin-gu, Seoul, issuing the 'Gwangjin Ttaenggyeoyo Gift Certificate.' Reflecting the early depletion of demand at the beginning of the month, the issuance limit has been increased from 100 million KRW to 200 million KRW monthly since this month, establishing it as the public delivery app of Gwangjin-gu.

Ttaenggyeoyo started by offering benefits such as no entry fees or advertising fees for affiliated stores and applied an industry-low brokerage commission rate of 2%, minimizing the burden on small business owners. For customers, membership sign-up coupons and brand discount coupons can be used simultaneously to order at discounted prices.

Shinhan Bank plans to expand the service area nationwide next year from Seoul, Busan, and Bucheon to provide Ttaenggyeoyo's beneficial services to many customers. A Shinhan Bank official said, "Surpassing 1 million members is a meaningful achievement in the delivery market dominated by competitors in the endemic and red ocean after just 8 months since Ttaenggyeoyo's launch," adding, "We will continue to provide easier, more comfortable, and newer financial services using non-financial data and become a leading delivery service that walks together with the vulnerable and promotes win-win growth."

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