Shinhan Bank and Naver Pay Launch Exclusive Package Products for Individual Business Owners

Launch of "Npay biz Shinhan Package"
Targeting 3.5 Million Naver Individual Business Owners
From Settlement Accounts to Loans and Exclusive Cards

Shinhan Bank has partnered with Naver Pay to launch a package of financial products targeting 3.5 million Naver individual business owners.

On October 15, Shinhan Bank announced the release of the “Npay biz Shinhan Package,” a set of financial services exclusively for individual business owners, on Naver Pay’s “Npay biz” platform.

Npay biz is an integrated platform combining Naver Smart Store, Smart Place, Naver Pay, and advertising platforms, where approximately 3.5 million individual business owners manage their sales, advertising, reservations, and other business operations.

Shinhan Bank has added the “Npay biz Shinhan Package” to this platform, offering a comprehensive suite that includes a settlement account, business loans, exclusive banking services, and credit cards. The package is designed to enable individual business owners within the Naver ecosystem to manage both their business and financial operations simultaneously. Shinhan Bank has been developing this product since it was designated as an innovative financial service in September of last year.

The Npay biz Shinhan Account allows business owners to link their account to “Npay biz” and view transaction history or make transfers without accessing the bank’s app. By designating a settlement account and registering the Npay biz Shinhan Card as a linked account, users can receive preferential interest rates of up to 2.3% per annum, depending on the conditions. The “Npay biz Shinhan Card” enables users to earn up to 1.5% of their purchase amount as Npay points at domestic and international merchants, regardless of their spending in the previous month.

The Npay biz Shinhan Loan is available even to small business owners with a short business history. By utilizing the Npay credit evaluation model, “Npay Score,” applicants can receive preferential interest rates and higher credit limits. If linked with the Npay biz Shinhan Account, the loan can also be used as an overdraft account.

A Shinhan Bank representative stated, “This is a new service that allows small business owners to manage both business operations and financial status in one place,” adding, “We will continue to expand consumer-focused financial services for small business owners in the future.”