Hyundai Card Surpasses 900,000 Issued Cards Two Years After Launching Smile Card

Largest Share of Customers in Their 40s, Notable Growth Among 20s
Processed Food and Kitchen Appliance Sales Increased in Q1 Due to COVID-19
Members Enjoy Shopping Most on Tuesdays at 11 PM

[Asia Economy Reporter Ki Ha-young] The 'Smile Card,' a private label credit card (PLCC) jointly operated by eBay Korea and Hyundai Card, is approaching the milestone of issuing 1 million cards within two years of its launch.

Hyundai Card announced on the 6th that the Smile Card, launched in June 2018, has surpassed a cumulative issuance of 900,000 cards as of the end of June this year. Usage performance also showed significant growth, with payment amounts in the first quarter of this year increasing 2.1 times compared to the previous year, and the number of transactions rising 2.3 times.

The Smile Card is a PLCC available only through online application, specializing in benefits for online shopping. It offers up to 2% Smile Cash rewards, nearly 7 times the basic accumulation rate, on purchases at major affiliated stores equipped with Smile Pay, including eBay's open markets such as Gmarket and Auction, as well as CJ O Shopping, Hmall, Market Kurly, Yogiyo, and Yanolja. Additionally, at general affiliated stores, users earn 1% Smile Cash, more than three times the basic accumulation rate. The accumulated Smile Cash can be used like cash without limits or conditions at all Smile Pay affiliated stores, including Gmarket and Auction.

Among Smile Card members, males account for 51.5% and females 48.5%. By generation, those in their 40s make up the largest share at 40.5%, followed by those in their 30s at 32.8%. Members in their 50s also represent over 15%, while those in their 20s and 60s and above account for 6.5% and 4.4%, respectively.

Members in their 20s, who are most familiar with contactless shopping, showed a remarkable increase in payment amounts. In the first quarter of this year, the Smile Card payment amount for males in their 20s was 2.8 times higher than in the first quarter of last year, and for females in their 20s, it increased 2.5 times, marking the highest growth rate across all age groups.

Payment amounts and usage patterns by members are also interesting. As of the first quarter of this year, the highest per capita payment amounts were recorded by males in their 40s and 30s, ranking first and second respectively, while the highest average monthly usage frequency per person was observed among females in their 60s and 40s.

The day of the week when Smile Card members use their cards the most was confirmed to be Tuesday. From January to the end of June this year, the weekly usage pattern of the Smile Card showed sales rising from Sunday, peaking on Tuesday, and then declining until Saturday. Notably, sales on Tuesday were nearly twice as high as those on Saturday.

Hourly usage patterns throughout the day showed that Smile Card usage was highest between 10 a.m. and noon, and after 7 p.m., which corresponds to the time after office workers leave work.

In particular, the time when Smile Card members used their cards the most was between 10 p.m. and midnight on Tuesdays, recording sales more than 2.7 times the average usage amount across all time slots.

Smile Card members primarily use their cards to purchase various food products, e-coupons, kitchen appliances, home appliances, laptops, and PCs. This year, influenced by the COVID-19 pandemic, the increased time spent at home led to a rise in purchases of processed foods and kitchen furniture.

A Hyundai Card official stated, "The Smile Card has established itself as one of the best contactless financial products within two years of its launch," adding, "We will continue to introduce various programs with eBay to support reasonable shopping for Smile Card members."