BC Card Launches Payment and Card Services Specialized for Foreign Residents in Korea

Global Money Express Partners
Launches 3 GME Card Types and Collaborates on Data Analysis

BC Card is partnering with an overseas remittance-focused fintech startup to launch a payment service specialized for foreigners residing in Korea.

BC Card announced on the 13th that it will introduce this service in collaboration with Global Money Express (GME).

First, the two companies will launch three types of 'GME Cards' on the 15th, targeting foreign customers residing in Korea. This is GME's first self-issued pay-based card. It can be issued to GME members aged 14 or older who reside in Korea.

All three cards offer a basic 0.3% cashback benefit at domestic merchants without any monthly spending requirements. The 'Premium' product provides an additional 3% cashback benefit when used at overseas merchants. Additionally, all three cards offer extra cashback benefits when used at special merchants selected periodically by GME.

For the 'Unique' product, users can use major simple payment services such as BC Card Paybook and KakaoPay immediately upon issuance without receiving a physical card. Users can also apply personalized backgrounds, such as family photos, to the physical card.

All three cards are dual-use cards that can be used at Mastercard merchants worldwide. They also support Mastercard's contactless payment feature, 'Tap and Go,' allowing payment by simply holding the physical card near compatible terminals at merchants.

If the GME Pay balance is insufficient for the payment amount, the linked account will be automatically recharged to complete the payment. The cards also come with a built-in prepaid transportation card function.

To celebrate the card launch, GME will hold cashback events until February 16 next year: 5% at the five major convenience stores in Korea, 10% at Lotte World Adventure, and 30% at Starbucks. Additionally, the annual fee will be waived for life during the event period upon card issuance.

BC Card and GME have also partnered in the data field. They plan to combine BC Card’s payment data with GME’s overseas remittance data to more accurately analyze the consumption and spending characteristics of foreigners residing in Korea. Through this data collaboration, the two companies will actively work to provide lifestyle financial services specialized for foreigners living in Korea.

Kim Ho-jung, Executive Director of BC Card, said, "Foreign customers residing in Korea, such as international students, will be able to use GME’s payment platform services more conveniently anywhere in Korea and worldwide through the GME Card," adding, "As a payment infrastructure company, BC Card will continue to play a key partner role in the growth of the domestic fintech industry."