KakaoBank's "Group Check Card" Surpasses 1 Million Issuances in Just Over a Year Since Launch

Up to 3,000 KRW Cashback for Every Transaction Over 50,000 KRW
Total Cashback Benefits Reach 3 Billion KRW

KakaoBank announced on August 14 that its "Group Check Card" has surpassed 1 million cumulative issuances just over a year since its launch.

The KakaoBank Group Check Card is an exclusive product for group account customers. Since its debut in April last year, the card saw rapid growth, reaching 100,000 issuances within three weeks and 200,000 within two months. In July, the card surpassed the milestone of 1 million cumulative issuances just one year and three months after its launch. This equates to more than 2,000 new cards being issued every day.

The card’s popularity is attributed to its optimized usability for group activities and a wide range of design options. Catering to the needs of group account customers, who often make large payments, the Group Check Card offers real-time random cashback of either 3,000 KRW or 300 KRW with every transaction over 50,000 KRW, with no cashback limit. By the end of July, the total accumulated cashback benefits returned to Group Check Card customers by KakaoBank reached 3 billion KRW.

To make managing group dues even more convenient, customers can receive up to two cards per group account: one KakaoBank Friends Check Card and one Group Check Card. All payment details can be checked in real time and separated by card on the "Card Usage Details" page, allowing for transparent and convenient management of group funds.

Approximately 10% of group account customers have received multiple cards. Customers who use multiple cards can maximize their cashback benefits by choosing between the two cards depending on the transaction amount and merchant. In particular, the proportion of customers with multiple cards is even higher among groups categorized as "Couple" or "Date." This trend is especially pronounced for couples or partners who need to distinguish between joint and personal expenses.

The way the Group Check Card is used also varies by group type. Small groups such as "Couple" and "Date" recorded more than three times the average number of monthly transactions compared to larger groups such as "Social" or "Club." However, the average amount per transaction was more than 50% lower for these small groups.

The three different card designs also contribute to the card’s popularity. Customers can choose from a variety of options, including the "Group Lachun" card featuring Kakao Friends characters Ryan and Chunsik, and the "Group Together" card, which allows users to customize the card with their own text. The most popular choice among customers is the "Group Lachun" design, selected by 55% of all Group Check Card users.

KakaoBank stated, "Thanks to the cashback benefits and convenient features that make managing group funds easier, we have achieved 1 million cumulative issuances of the Group Check Card. We will continue to enhance our services for group account users by adding more features to support group activities."

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