Kakao Pay keeps improving its plastic

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Kakao Pay keeps improving its plastic

Published: 26 Aug. 2020, 17:28

Kakao Pay cards [KAKAO PAY]

Kakao Pay continues to bring changes to the cards we carry around in our wallets.

On Wednesday, the payment affiliate of Kakao Group launched a second version of the Kakao Pay card, a cross between a credit and debit card that was first launched in January 2018.

Instead of the conventional credit card number and expiration date, customers can write their own label for the card.

The company claims such customized labels will be fun and enhance security as sensitive customer information will no longer be stamped on the cards. Customers can choose messages like "No need to give me a receipt."

Kakao Pay is also experimenting with unconventional designs. The second version of Kakao Pay cards comes with a rounded edge on the bottom and in three colors. Kakao Friends characters decorate the cards.

The fintech company added a separate barcode to allow customers to register points from 38 partner companies, including CJ One points, Shinsegae Points and Happy Points from the SPC group. It plans to expand partnerships to include more companies.

It will also link T-money cards with individual Kakao Pay accounts.

Benefits will be offered to new customers. They will receive a 20 percent discount on purchases made at Kakao Friends' online and offline stores as rewards. Purchases made on the cards by the end of September will be eligible for government tax deductions.

More than 1.5 million Kakao Pay cards have been issued.

BY KANG JAE-EUN [kang.jaeeun@joongang.co.kr]