Kakao Pay to offer a private label credit card

Kakao Pay said Tuesday it is preparing to offer a private label credit card (PLCC) in May in partnership with Samsung Card.

A PLCC is a credit card designed with the benefits and rewards from a specific brand.

The Kakao Pay-branded card will offer customers benefits related to Kakao Pay points and services offered by Kakao companies, the mobile payment service operator said.

The points are like digital money that can be used while purchasing things online using Kakao Pay. The points are currently randomly granted to users for each Kakao Pay transactions.

Kakao Pay said it has been preparing for its branded credit card with Samsung Card from last year. The two are working together on customer benefits, card designs as well as marketing strategies.

By Kim Jee-hee