Samsung Card partners with Kakao Pay for more than just a cute face
Samsung Card launched a private label credit card (PLCC) in partnership with Kakao Pay on Monday.
A PLCC is a credit card designed with benefits and rewards from a specific brand.
Many card companies have been turning to PLCCs to cut costs in launching new cards, as two partners share profits generated and cost incurred from the PLCC, and to appeal to brand-loyal customers.
Users of the Kakao Pay-branded card can save up to a maximum of 2.5 percent of their payments on the credit card as Kakao Pay points, which can be used like digital money while shopping online using the Kakao Pay service.
The mobile payment service operator said users can enjoy the card's benefits regardless of their card usage in the previous month. Usually, credit card companies offer benefits or discounts linked with the card only when users have spent a certain amount of money with the plastic in the previous month.
BY KIM JEE-HEE [firstname.lastname@example.org]