Lotte Card Launches 'K Bank Lotte Card'... Up to 50% Cashback at Life Franchise Stores

[Asia Economy Reporter Yu Je-hoon] Lotte Card announced on the 11th that it has launched the 'K-Bank Lotte Card' in collaboration with K-Bank.

The K-Bank Lotte Card is based on a K-Bank payment account and offers up to 50% cashback benefits at 'life merchants' frequently used by digitally savvy customers in daily life, such as pay services, delivery/market, membership, streaming, Starbucks, and public transportation.

First, the life cashback benefit provides 5-50% cashback on spending by category. Specifically, pay services (Naver Pay/Samsung Pay) offer 5%, delivery/market (Coupang Eats/Yogiyo/Baedal Minjok/Market Kurly/Oasis) 10%, membership (Smile Club/Coupang Rocket Wow Club/Naver Plus) 10%, streaming (Netflix/Disney Plus/Watcha/Wavve/FLO) 10%, Starbucks Siren Order 50%, and public transportation (bus/subway) 50% cashback. The life cashback benefit is provided if the spending amount last month is 400,000 KRW or more, with a total monthly cashback limit of 10,000 KRW. Even if the limit is exceeded, a 0.5% cashback benefit is still provided.

Additionally, a basic 0.5% cashback with no limit is given at all domestic and international merchants excluding life merchants. If the spending amount last month is 400,000 KRW or more, an additional 0.5% special cashback benefit is provided, allowing a total of 1% cashback.

The card design features BT21, a globally popular IP (intellectual property) from IPX (formerly LINE Friends). BT21 is a globally popular character brand consisting of Koya, RJ, Shooky, Mang, Chimmy, Tata, Cooky, and Van. Customers can choose one of three designs: Tiger, Basic, or Vintage, and a BT21 sticker set is also provided along with the physical card.

The K-Bank Lotte Card can be applied for through the K-Bank app, and the annual fee is 15,000 KRW (domestic only/Master/Amex). A Lotte Card official said, "This card focuses on benefits for customers who enjoy a digital lifestyle," adding, "We plan to provide services and customized events that satisfy customers through close collaboration with K-Bank."