Photo = Financial Commission.
[한국금융신문 전하경 기자] Card companies have been busy expanding new business since the beginning of this year. Although it achieved good results last year, it is due to a sense of crisis of’recession-type surplus’ due to reduced marketing costs and reduced provisioning burden.
According to the card industry on the 20th, from the beginning of this year, credit card companies are expanding their business by expanding payments and adding business purposes.
Hana Card first introduced automobile installment financing products from the 4th. Until now, Hana Card has not entered the automobile installment financing market, but launched a product to expand its new business.
Lotte Card also added a facility rental business that can operate a lease business to its business purpose. Lotte Card announced that it plans to expand its range from durable goods to automobiles.
KB Kookmin Card launched’KB Kookmin Used Transaction Safe Payment Service’, which was selected as an innovative financial service last year.
This service is a second-hand transaction online platform affiliated with KB Kookmin Card, when a buyer pays for an item with a credit card, points are recharged and deposited in the’Safe Payment (escrow)’ account, and the points deposited at the time of confirmation of purchase. Is an online secure payment service based on credit card points that are paid in cash to sellers.
Shinhan Card is reinforcing payment convenience in line with the goal of’Achieving 40 trillion of digital transactions this year’.
Shinhan Card expanded its overseas mobile payment service to UnionPay (UPI) following Visa and Master. If you use an overseas mobile payment service, you can use it at all terminals that support NFC payment, such as vending machines and duty-free shops, as well as local general affiliate stores through Shinhan Paypan without having to carry a physical plastic card. It is explained that transportation services are now available in major overseas cities such as London, Guangzhou and Singapore.
In addition to leasing, Lotte Card also applied for non-face-to-face identity verification to the Financial Supervisory Service. The plan is to expand the service to verify identity with a palm vein instead of an ID card to 14 airports excluding Incheon International Airport. In 2017, Lotte Card introduced a’Hand Pay Service’ that pays with a palm vein.
As it is the first year of the my data business, it is also expanding its data.
BC Card decided to supply card payment data to the National University of Singapore.
BC Card was selected as the organizer of the financial big data platform by the Ministry of Science and ICT in July 2019, and is providing various converged data with 12 data providers.
It is interpreted that there is a greater sense of crisis that credit card companies are expanding their new business from the beginning of the year until they move away from traditional card companies.
Survival is threatened by the recalculation of eligible costs this year, additional fee cuts, continued Corona 19, and entry into the big tech payment market.
An official in the card industry said, “It has been a long time since the fee sector has already turned to a deficit, but the government will cut additional fees again, which will increase the deficit.” In line with this, we are actively pursuing digitalization such as the comprehensive payment and settlement business and my data business.”
Reporter Jeon Jeon [email protected]