[Ki Ha-young's Daily Card] If You Order Delivery Apps Once a Day... How About This Card?

Hyundai Card and Woowa Brothers Launch 'Baemin Hyundai Card'
Shinhan and Samsung Cards Introduce Yogiyo Specialized Cards

[Asia Economy Reporter Ki Ha-young]Is there anyone these days without at least one credit card? In modern society, anyone can have a card if they want. Credit cards have brought unparalleled convenience to daily life. Now, wherever you go, you can easily see people paying with credit cards or smartphones. As demand has increased, cards with various benefits are being released almost daily. Accordingly, Asia Economy delivers diverse stories related to cards, which are inseparable from our consumer life, through the weekly 'Cards in Daily Life' corner, including introductions of new cards, behind-the-scenes industry stories, and guides for card beginners.

1 trillion KRW per month. This is the amount paid monthly on major delivery applications (apps) such as Baedal Minjok and Yogiyo. Especially due to the impact of the novel coronavirus disease (COVID-19), contactless consumption has increased, causing delivery app payment amounts to surge. According to app analytics firm WiseApp, in August, the amount paid by those aged 20 and over on major delivery apps reached 1.205 trillion KRW, marking an all-time high. Adding payments by teenagers, simple payments, on-site payments, and KakaoTalk ordering, the actual delivery app payment amount is analyzed to be even larger.

As delivery app consumption has increased so sharply, credit card companies are launching cards specialized for delivery apps. The 'Baemin Hyundai Card,' a private label credit card (PLCC) jointly launched by Hyundai Card and Woowa Brothers, the operator of Baemin, is a representative example. This card offers benefits focused on Baemin Points, which can be used like cash on Baemin.

Baemin Hyundai Card, 5.5% Baemin Points Accumulation for 6 Months

The Baemin Hyundai Card accumulates 3% of the payment amount as Baemin Points when paying with Baemin Pay on the Baemin app. Additionally, 0.5% Baemin Points provided by Baemin when using Baemin Pay are accumulated separately. Especially, as a special promotion, for the first 6 months after the first card use, an additional 2% accumulation benefit is given, so a total of 5.5% of the payment amount is accumulated as Baemin Points.

This card also offers a 2% accumulation benefit on payment amounts when using 13 major domestic online shopping malls and 6 digital content services. This too is promoted with a total 3% accumulation for 6 months, and general merchants accumulate 1% (basic 0.5%).

The card plate, which wittily features images of food such as mackerel, seaweed, tteokbokki, and fried eggs, also catches the eye. Hyundai Card offers a total of 8 types of card plates to choose from. The Baemin Hyundai Card can only be applied for through the Baemin app, and the annual fee is 10,000 KRW for both domestic-only and domestic/overseas (Mastercard) versions. If you pay more than 100,000 KRW annually with Baemin Pay, the next year's annual fee is waived.

Yogiyo Shinhan Card, 20% Discount When Using Yogiyo

Shinhan Card and Samsung Card have partnered with the delivery app Yogiyo to launch Yogiyo-specialized credit cards. The 'Yogiyo Shinhan Card' offers a 20% payment day discount when using Yogiyo, with a maximum discount of 2,000 KRW per transaction and up to 20,000 KRW per month. Also, if you use at least one of Netflix, YouTube Premium, or Watcha Play, you can get an additional 10% cashback up to 5,000 KRW per month, allowing you to enjoy up to 25,000 KRW in benefits monthly from using Yogiyo.

Furthermore, if you subscribe regularly to OTT services like Netflix, you get a 15% discount within a monthly integrated limit of 5,000 KRW. When spending over 50,000 KRW at online shopping malls such as Coupang, Gmarket, and 11st, you receive a 2,000 KRW discount per transaction (once daily, up to 5 times monthly). There is also a 10% payment day discount service at Starbucks Siren Order and Wine & More, available up to 3 times monthly with a maximum discount of 10,000 KRW per month. The annual fee for the Yogiyo Shinhan Card is 24,000 KRW for domestic-only and 27,000 KRW for overseas-compatible (Mastercard) versions.

Yogiyo Samsung Card, 10% Discount When Using Yogiyo

Samsung Card has launched the 'Yogiyo Samsung Card,' which offers up to a 10% discount when paying through the Yogiyo app. If the previous month's usage amount is less than 300,000 KRW, a 1% payment day discount is provided up to 5,000 KRW monthly. If the previous month's usage amount is 300,000 KRW or more, a 10% payment day discount is offered. The 10% payment day discount is provided up to 20,000 KRW monthly depending on the previous month's usage amount.

Also, if the previous month's usage amount is 300,000 KRW or more, you can get a 5% discount at coffee shops, convenience stores, Daiso, etc., and a 10% discount on streaming service subscriptions. The combined benefits at coffee shops, convenience stores, and Daiso are up to 10,000 KRW monthly depending on the previous month's usage amount, and for streaming services like Netflix, Wavve, and Watcha, you can get up to 3,000 KRW monthly. The annual fee is 10,000 KRW for both domestic-only and overseas-compatible (Mastercard) versions.