BC Card and Dow Data Sign Agreement to Expand Prepaid Card Payment Infrastructure

Launch of Prepaid Debit Card Based on Mobile Micropayment Top-Ups
Issuance of Reward Cards Linked to Affiliate Merchants... Multi-faceted Collaboration

BC Card announced on January 15 that it has signed an agreement with Dow Data for cooperation in card processing operations.

BC Card and Dow Data held a signing ceremony for cooperation in card processing operations on the afternoon of the 14th at Dow Data headquarters in Mapo-gu, Seoul. Choi Wonseok, President of BC Card (right), and Kim Sangjun, President of Dow Data. Photo by BC Card

The signing ceremony, held the previous day at Dow Data headquarters in Mapo-gu, Seoul, was attended by Choi Wonseok, President of BC Card, Kim Sangjun, President of Dow Data, and other key officials.

Through this agreement, BC Card will handle Dow Data's card processing operations. The two companies plan to gradually pursue various collaborations, including a prepaid debit card based on mobile micropayment top-ups; reward products linked to affiliate merchants partnered with value-added network (VAN) and payment gateway (PG) providers; and the launch of regional currencies, voucher cards, and corporate welfare cards.

In particular, the prepaid debit card based on mobile micropayment top-ups is expected to enhance charging convenience by utilizing existing payment methods, while also enabling stable use within the card payment infrastructure. Both companies believe this will improve both user accessibility and utilization.

President Choi stated, "This agreement marks a meaningful starting point as Dow Data, which has accumulated extensive know-how in the VAN and PG businesses, embarks on the prepaid card business for the first time with BC Card. We will actively support the stable growth of Dow Data's prepaid cards by leveraging the nation's largest payment infrastructure and our differentiated processing technology."

President Kim said, "The synergy between BC Card's unrivaled card payment infrastructure and Dow Data's IT expertise will introduce a new paradigm to the prepaid payment market. We will continue to maximize customer convenience by diversifying payment methods in the future."