"Student ID Added to Samsung Pay"… Hana Financial Group and Samsung Electronics Join Hands

High School Student ID Stored in Samsung Pay
Used for Meals, Library, and Identity Verification
Expansion to Universities Planned... Collaboration on Blockchain Also Underway

Hana Financial Group has partnered with Samsung Electronics to promote digital finance. They plan to implement a student ID function in the smartphone-based simple payment system Samsung Pay, establish an overseas payment system, and pursue blockchain-related businesses.

On the 28th, Hana Financial Group announced that it signed a strategic partnership with Samsung Electronics the previous day at its Myeongdong headquarters in Jung-gu, Seoul, covering these initiatives.

Accordingly, the two companies will establish a cooperative system to develop future-oriented financial services, including ▲activation of payment and identification functions via mobile ▲establishment of an overseas payment system ▲development of new products and services combining finance and IT technology ▲development of blockchain-based wallets and NFT-linked products ▲collaboration on new businesses based on Web 3.0.

First, they decided to actively target the 10-20 age group. A representative project is incorporating the student ID service into Samsung Pay. Starting from the previous day, students at over 100 high schools nationwide partnered with Hana Bank, who have given prior consent, can issue student IDs within Samsung Pay. By registering a Hana Bank check card in Samsung Pay, users can add the student ID function. The student ID barcode within Samsung Pay can be used for meal services, library access, and identity verification. The two companies plan to expand Samsung Pay to include university IDs affiliated with Hana Bank and international student IDs in the future.

Additionally, those who have issued a Hana Bank student ID check card and register it in Samsung Pay, using the card via Samsung Pay, will be eligible for a cashback event of up to 5,000 KRW starting from May. Further details will be provided through the Samsung Pay application (app).

Park Sung-ho, Vice Chairman of Hana Financial Group, stated, "Through the partnership with Samsung Electronics, a world-class company, we expect to maximize customer experience through digital innovation," adding, "We will continue to work together with Samsung Electronics based on mutual cooperation and trust to realize new digital financial experiences and customer value."

Han Jini, Vice President of Samsung Electronics, said, "We are very pleased to provide digital innovation services for the future leaders, the youth, together with Hana Financial Group," and added, "Through an open partnership, we will continuously strive to ensure Samsung Pay users enjoy the best mobile wallet experience."

Park Sung-ho, Vice Chairman of Hana Financial Group (left), and Han Jini, Vice President of Samsung Electronics (right), are signing a business agreement on the 27th at the Hana Financial Group Myeongdong building in Jung-gu, Seoul. (Photo by Hana Financial Group)