Hyundai Card launches credit card with Naver in Korea

Thursday 26 August 2021 14:17 CET | News

Korea-based Hyundai Card has launched a private label credit card in collaboration with IT company Naver to bolster the credit card issuer’s online retail business.

According to the company, the Naver Hyundai Card offers rewards and benefits to customers using online transaction and subscription services via Naver. A PLCC refers to a credit card rolled out by a credit card issuer, but which offers benefits from a specific retailer the issuer has partnered with. The credit card gives 10% cash rewards for purchases made through Naver Shopping.

Those who use Naver Plus, a subscription service giving rewards from the company’s ecommerce services, will receive up to 10% of the total monthly payment on the Naver platform back as Naver points, which can be used like cash. The credit card also provides a one-month free subscription for Naver Plus. The original monthly subscription fee for the membership service is USD 4.20.

Since 2015, Hyundai Card has launched 14 credit cards with local companies such as Hyundai Motor Group, Starbucks Korea, eBay Korea, Costco Korea, Korean Airlines, Baemin and Musinsa. The PLCC issued with eBay Korea in 2018 has attracted more than 1 million users, marking an unusual case for a PLCC to draw in so many customers, according to market insiders.

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Keywords: credit card, product launch, subscription payments, cashback, online shopping
Categories: Payments & Commerce
Countries: Korea, Republic of
This article is part of category

Payments & Commerce