GS Retail Signs Business Agreement with Travel Wallet
Instant Card Issuance at GS25 ATMs in Second Half of This Year
The Travel Wallet card, a foreign currency charging and payment service frequently used for overseas travel, is expected to be issued immediately at GS25 convenience stores.
On the 25th, GS Retail and Travel Wallet announced on the 26th that key officials, including GS Retail Vice President Heo Seo-hong and Travel Wallet CEO Kim Hyung-woo, signed a business agreement in the conference room on the 20th floor of GS Tower to secure mutual competitiveness between distribution and fintech.
Heo Seo-hong, Vice President of GS Retail (left), and Kim Hyung-woo, CEO of Travel Wallet, are posing for a commemorative photo after signing a business agreement to secure mutual competitiveness in distribution fintech at GS Tower on the 25th. [Photo by GS Retail]
Travel Wallet is a fintech startup specializing in foreign currency charging and payment with 5 million customers. It offers benefits such as exemption from exchange and re-exchange fees and overseas payment fees for 45 currencies worldwide.
Through this business agreement, the two companies will promote collaboration including ▲ immediate issuance of Travel Wallet cards using GS25 Smart ATMs ▲ partnership and integration of POP services within Travel Wallet cards ▲ Travel Wallet payment promotions linked with offline platforms such as GS25 and GS The Fresh.
First, the immediate issuance service of Travel Wallet cards using GS25 Smart ATMs is targeted to launch in the second half of this year. This will reduce the card issuance period from the existing 2 days to 2 weeks down to within 2 minutes.
In line with this, GS25 and GS The Fresh are preparing differentiated promotions for Travel Wallet users. The plan is to provide benefits to customers visiting stores to issue cards and the increasing number of Travel Wallet users, thereby increasing customer inflow to the stores.
Both companies expect this collaboration to not only provide convenient services to customers but also enhance competitiveness in their respective fields. Furthermore, they plan to continue long-term cooperation that can create mutual synergy in the future.
Lee Hanna, Head of Strategy Division (Executive Director) at GS Retail, said, "Distribution and fintech have formed a partnership to provide customers with new experiences and convenient services while elevating the business competitiveness of both companies to the next level." She added, "We will continue to strengthen collaboration with new fields to provide innovative and valuable benefits, going beyond the boundaries of existing service scopes."
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