Hyundai Card and Musinsa issue a PLCC
Published: 12 Apr. 2021, 18:10
![Hyundai Card on Monday introduced a private label credit card in partnership with online shopping platform Musinsa. The branded card comes in eight different designs. [HYUNDAI CARD]](https://koreajoongangdaily.joins.com/data/photo/2021/04/12/79092250-daf0-455d-85b3-e668ad09ec3e.jpg)
Hyundai Card on Monday introduced a private label credit card in partnership with online shopping platform Musinsa. The branded card comes in eight different designs. [HYUNDAI CARD]
A PLCC is a credit card designed with the benefits and rewards from a specific brand.
The Musinsa-branded Hyundai card will offer a 5 percent discount on the payments made at "soldout," an online market run by Musinsa that specializes in selling limited-edition fashion items.
One percent of all transactions made with the Musinsa-branded card will be saved as rewards that can be used like cash when shopping at Musinsa.
Musinsa has some 8 million registered users and 5,700 brands are operating on its shopping platform. Almost 70 percent of the platform's customers are teenagers or twenty-somethings.
Hyundai Card hopes to appeal to young people through its partnership with the fashion shopping platform.
Under the branded card partnership, a credit card issuer and a brand work together on the entire process of credit card development from planning to branding and marketing. The two parties also share profits generated and cost incurred.
BY KIM JEE-HEE [[email protected]]
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)