Input 2021.03.06 06:00
Hyundai Card and Samsung Card are competing in PLCC competition with online payment platforms such as Kakao Pay and Naver Pay, and fintech services such as Toss. PLCC should lower the’waist’ enough to sell credit cards without hiding the name of the credit card company, and share the cost and profits related to credit cards with the companies. Instead, the advantage is that it can reliably capture users of the service. It is also finding a way to partner with online service platforms in a situation where airline mileage and various affiliated services are not very powerful due to the novel coronavirus infection (Corona 19).
Samsung Card recently announced that it will launch’Kakao Pay Credit Card’ in May in partnership with Kakao Pay. Kakao Pay Card is the first PLCC released by Samsung Card. The biggest feature of this card is that Kakao Pay points are used to pay the benefits of credit card usage.
Samsung Card said, “We will provide special benefits for Kakao Pay points.” Kakao is an affiliate of Kakao, such as Kakao Talk’s gift-giving function, mobility platform Kakao T, content service Kakao Page, and online music service Melon. This is the first time that Samsung Card has released PLCC.
In February, Naver announced that it would launch a Naver-only card in the first half of this year in partnership with Hyundai Card. This card is linked with Naver’s Naver Plus membership service. Naver Plus is a service that accumulates up to 5% of Naver Shopping payments as Naver Pay points when you pay 3900~4900 won per month. In addition, exclusive points for purchasing content platform Naver series, webtoons, and videos are also paid monthly.
Samsung Card explained, “Last year, Kakao Pay conducted competitive bidding for all card companies in order to select the preferred negotiator for the release of PLCC, and Samsung Card was selected.” It means that it is the release of PLCC that reflects Kakao Pay’s needs.
◇ Delivery app, Internet shopping mall, Tosudo card
Toss, a mobile banking service with 16 million subscribers, launched Toss Credit Card in partnership with Hana Card in April of last year. If you are a Toss member, anyone can sign up for an annual subscription fee of 10,000 won, and it is characterized by a refund (cashback) of 0.5% (less than 10,000 won) or 1% (more than 10,000 won) per case depending on the card payment performance last month. to be. This means that the toss user will return the cash as much as he used when using the exclusive credit card.
In the case of the Nation of Delivery card, an additional 2% benefit is given when payment is made through Baemin Pay, the Nation of Delivery’s own payment service. The combined reserves amount to 5.5% of the payment amount. Hyundai Card, in partnership with Musin, an internet fashion shopping mall that is popular among young people in their 20s and 30s, releases related cards.
Lotte Card also has a variety of PLCC products. The representative one is the Naver Pay card. If you use Naver Pay with this card, 3% of the payment amount will be accumulated as Naver Pay points. 0.5% is credited for use at affiliated stores other than Naver Pay. In addition, it launched PLCC in partnership with Internet shopping services such as WeMef and Interpark, as well as affiliates such as Lotte Department Store, Lotte Owners, and Lpay.
PLCC is similar to PB (Private Brand) products of large marts. Instead of the credit card company, the company name comes to the fore and is sold under that name. When a company that needs its own credit card asks a credit card company to “make a card like this”, the card company presents a customized card. In addition to product development and operating costs, revenues are also shared. For card companies, PLCC is a way to secure loyal customers. The revenue generated by these customers using cash services, revolving (partial payment transfer agreements), and loans belongs to the credit card company, because the actual source of income is the credit card company’s main source of income.