1% Cashback Offered Without Limit at All Domestic and International Franchise Stores
[Asia Economy Reporter Minwoo Lee] K Bank has partnered with Lotte Card to launch a credit card that offers up to 50% cashback when MZ generation (Millennials + Generation Z) use Starbucks and online video streaming services (OTT).
K Bank announced on the 11th that it has released the "K Bank Lotte Card" with these benefits in collaboration with Lotte Card.
This card provides up to 50% cashback benefits at "life merchants" reflecting the consumption patterns of the MZ generation, such as Starbucks, public transportation, and delivery/market services.
The detailed cashback benefits are ▲ 50% on Starbucks Siren Order ▲ 50% on public transportation (bus, subway) ▲ 10% on delivery/market (Baedal Minjok, Coupang Eats, Yogiyo, Market Kurly, Oasis) ▲ 10% on OTT services (Netflix, Disney Plus, Watcha, Wavve, FLO) ▲ 10% on memberships (Coupang Wow, Naver Plus, Smile Club) ▲ 5% on pay services (Naver Pay, Samsung Pay). These apply only if the usage amount last month was 400,000 KRW or more, with a monthly cashback limit of 10,000 KRW.
There is also a basic cashback benefit. If the usage amount last month is 400,000 KRW or more at all domestic and international merchants, 1% cashback is provided without limit. Even if the usage amount falls short, a basic 0.5% cashback applies.
Meanwhile, the "K Bank Lotte Card" is the industry's first collaboration with IPX (formerly Line Friends) popular character "BT21." Customers can choose from three types (Tiger, Basic, Vintage) according to the design concept.
Along with the card launch, an event offering up to 190,000 KRW in benefits is being held. First, customers who sign up by the end of this month and spend a cumulative 130,000 KRW or more by the 15th of next month can receive 130,000 KRW back into their card payment account during the next month. Additional benefits are given to customers who meet this condition. If they spend 10,000 KRW or more each month in June and July, 10,000 KRW will be refunded within 15 days of the following month’s payment.
There is also a subscription payment benefit. If customers apply through the Lotte Card event page on the K Bank application (app) by next month and complete a subscription payment of 5,000 KRW or more by June 30, they can receive up to 40,000 KRW more. This is available not only to "K Bank Lotte Card" members but also to all Lotte Card individual members. Detailed application methods and benefit information can be found on the K Bank app.
A K Bank official stated, "We plan to release various products to provide more benefits to customers in the future."
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