-Preparing PLCC with Samsung Card for launch in May
– Focusing on ‘Kakao Pay Points’, it will include benefits specialized for Kakao Pay payments and Kakao’s major services.
Kakao Pay (CEO Ryu Young-jun) announced that it is preparing the ‘Kakao Pay Credit Card (PLCC, Private Label Credit Card)’ with the goal of launching in May with Samsung Card.
‘Kakao Pay Credit Card’ plans to provide benefits specialized for ‘Kakao Pay Points’ based on Kakao’s unique brand value. You can receive more benefits by using Kakao’s major services such as ‘Kakao Pay Payment’ service, gifting, taxi, Melon, and webtoon.
Kakao Pay and Samsung Card signed a strategic partnership and have been preparing for PLCC since last year. The two companies are currently pursuing close cooperation throughout the entire process, from developing benefits, designs, and promotions that will captivate users to attracting subscriptions and activating usage.
‘Kakao Pay Points’ are points accumulated when using Kakao Pay, and can currently be used instead of cash when making online payments. Separately from Kakao Pay Money, you can hold up to 2,000,000P and use it starting from 1P.
‘Kakao Pay Payment’ is not only Kakao’s internal service, but also most franchise stores in Korea such as convenience stores, cafes, restaurants, movie theaters, and department stores, as well as online shopping, delivery, streaming services, app markets, and overseas direct purchase sites, covering about 60 people online and offline. It can be used at 10,000 affiliated stores.
Jin Lee, Vice President (COO) of Kakao Pay Business, said, “Kakao Pay, which can provide the best benefits and value to users through collaboration between Kakao Pay, Korea’s largest financial platform with 35 million users, and Samsung Card, which has the best digital capabilities in the card industry. “We will create a ‘point’ ecosystem,” he said.
Source: Pangyo Techno Valley Official Newsroom
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