[Ki Ha-young's Lifestyle Card] Capturing the MZ Generation... Launch of Fintech and Beauty PLCC

Samsung Card launches PLCC with Kakao Pay
Shinhan Card introduces beauty PLCC Amore Card

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. In response, 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 to new cards, behind-the-scenes industry stories, and guides for card beginners.

As the MZ (Millennial + Generation Z) generation emerges as new customers in the consumer market, cards targeting them are being launched one after another. The MZ generation refers to those born from the early 1980s to the early 2000s, characterized by their familiarity with digital environments and their pursuit of the latest trends and unique experiences. For this reason, card companies are partnering with brands favored by the MZ generation to release various Private Label Credit Cards (PLCCs) to the market.

First, Samsung Card introduced the PLCC 'KakaoPay Credit Card' in collaboration with KakaoPay. It features a low annual fee of 10,000 KRW (domestic use only, overseas use with Visa) and offers highly versatile KakaoPay points accumulation benefits.

Especially, from the 1st of this month until the end of the year, a promotion provides up to 2.5% KakaoPay points accumulation benefits. When using KakaoPay at major Kakao affiliates such as Melon, KakaoTalk Order, Gift, Shopping, and KakaoT (excluding train reservations), 2.5% of the payment amount is accumulated as KakaoPay points. Additionally, 1% points are accumulated when paying by card at domestic merchants, and 2% when paying via KakaoPay. The design features popular characters from Kakao Ninjas?Jordi, Scappy, and Angmond?and applies a numberless plate without card numbers.

Shinhan Card partnered with Amorepacific, the number one cosmetics company, to launch the beauty PLCC 'Amorepacific Shinhan Card.' The Amore Card accumulates 'Beauty Points,' an integrated membership service provided to customers using all brands of Amorepacific's cosmetics, household goods, and health supplements, based on card usage. It accumulates 15% of the amount spent at Amorepacific affiliates, including door-to-door sales, offline stores, and online malls, as Beauty Points. The basic card benefit is 12%, but through an additional 3% accumulation event running until April 4, 2026, a total of 15% accumulation is possible.

At other merchants such as large supermarkets, department stores, duty-free shops, academies, coffee shops, and gas stations (including charging stations), 5% Beauty Points are accumulated. Until July 31, if you spend more than 100,000 KRW at Amorepacific with this card, you can receive benefits up to 76,000 KRW through an event. The annual fee for this card is 17,000 KRW for domestic use only and 20,000 KRW for overseas brands (Visa).

Lotte Card formed a strategic partnership with the lifestyle financial platform Fink and launched the 'Refresh Card' to the market. With an annual fee of 25,000 KRW (domestic use only and overseas use), this card allows Fink service users to accumulate up to 20,000 Fink Money per month. If you use at least one of the five major Fink services (remittance, Fink Money charging, subscription and maintenance of savings/deposit products, loan limit inquiry, Fink Reality attendance service) during the previous month and your spending reaches 400,000 KRW, 800,000 KRW, or 1,800,000 KRW, you accumulate 10,000, 15,000, or 20,000 Fink Money respectively. Additionally, an event is underway to provide an extra 5,000 Fink Money monthly for six months to customers who spend more than 400,000 KRW per month. Another event runs until the 31st of next month, offering an additional 70,000 Fink Money if the previous month's spending exceeds 70,000 KRW.