Danal Signs Partnership with BC Card for Prepaid Payment and Foreigner Prepaid Card Collaboration

From the left, Jin Changyong, Head of Business Division at Danal, and Kim Hojung, Executive Director of Sales Group at BC Card. Danal

On April 28, Danal, a company specializing in integrated payment business, announced that it has entered into a strategic partnership with BC Card regarding payment infrastructure, aiming to strengthen its integrated prepaid business.

Through this partnership, BC Card's payment processing infrastructure will be fully integrated into Danal's prepaid electronic payment instrument business model. With BC Card's network of 3.48 million affiliated merchants and an infrastructure capable of issuing more than 30 million cards annually, Danal's payment services are expected to rapidly gain traction in the market, leveraging BC Card's strengths.

Initially, BC Card's payment infrastructure will be applied to Danal's prepaid card product based on the 'white labeling' service, which is scheduled for launch this month. Danal's white labeling service supports the issuance and management of prepaid electronic payment instruments for small and medium-sized fintech companies. Through this collaboration, affiliated companies will be able to operate their prepaid businesses stably, while also providing BC Card-based payment services to their own prepaid customers.

This prepaid payment service can be registered and used not only offline but also with major simple payment services such as BC Card Paybook, Naver Pay, and Kakao Pay, which is expected to accelerate its adoption among the general public.

Furthermore, the two companies plan to launch a 'foreigner-specialized prepaid card' within the third quarter of this year. They intend to install kiosks in major commercial districts and educational institutions such as universities throughout Korea to support rapid card issuance and to provide services that can be used for payments nationwide.

Additionally, Danal plans to renew and upgrade its own prepaid services based on BC Card's infrastructure, and will pursue various service collaborations aimed at enhancing customer convenience.

Jin Changyong, Head of Business Division at Danal, stated, "The white labeling service has already completed partnership discussions with a number of companies due to strong demand from businesses that find it difficult to obtain a prepaid business license. These companies will be able to utilize BC Card's payment infrastructure immediately upon launch." He added, "As the number of foreign residents in Korea has recently surpassed 5% of the total population, we will rapidly expand our infrastructure for the foreigner-specialized prepaid card, focusing on areas frequently visited by international students, tourists, and foreign workers, in order to quickly enhance our market competitiveness."