Netflix, Baemin, and YogiYeoTtae Also Offer KakaoBank Check Card Cashback

Cashback Promotion Season 7
'Digital Connect' Industry Expansion

[Asia Economy Reporter Kim Hyojin] KakaoBank announced on the 31st that it will run the 'Cashback Promotion Season 7,' offering cashback based on check card payment amounts for six months from next month 1st to the end of January next year.

The KakaoBank Friends Check Card accumulates 0.2% of domestic and international merchant usage amounts (an additional 0.2% on weekends and holidays) without any monthly performance or payment limit restrictions. The cashback promotion provides a fixed cashback amount monthly across various sectors. KakaoBank has been conducting regular cashback promotions every six months since July 2017.

In this promotion, KakaoBank explained that the biggest feature is the expansion of the 'Digital Connect' sector due to changes in consumption patterns caused by the novel coronavirus infection (COVID-19). KakaoBank newly added 'Baedal Minjok' and 'KakaoTalk Gift,' the most frequently used merchants among KakaoBank customers in the Digital Connect sector, and 'Netflix,' which has seen an all-time high increase in subscribers worldwide, as cashback merchants.

Additionally, following the trend of increased domestic travel due to difficulties in overseas travel, KakaoBank formed a new partnership with 'Yogiyo,' and lowered the threshold to allow more customers to enjoy practical benefits amid falling oil prices that have limited fuel cost benefits. New discount benefits are also provided at multiplexes such as Megabox and Lotte Cinema.

Online shopping, telecommunications, academies, and coffee shops, sectors that received high customer satisfaction in the previous promotion, are also eligible for cashback benefits.

When paying 40,000 KRW or more at 'Yogiyo' with the Friends Check Card, customers can receive 4,000 KRW cashback, and paying 200,000 KRW or more for academy fees provides 10,000 KRW cashback. Also, paying 10,000 KRW or more at Starbucks or Blue Bottle grants 1,000 KRW cashback. Cashback is deposited into the account linked to the Friends Check Card on the 10th of the following month after use.

The cashback promotion targets customers with a minimum monthly usage of 300,000 KRW, offers each of the 12 benefit categories once per month, and detailed information can be found on the KakaoBank application (app).