[Provided by Kakao Bank]
[Provided by Kakao Bank]

Kakao Bank has teamed up with Shinhan Card to launch a private-label credit card (PLCC) that concentrates discount benefits on everyday spending — including digital payments, generative AI service subscriptions and shopping. The card, called the Kakao Bank Chakbut Shinhan Card, was announced Friday.

The card offers discounts at frequently used payment platforms both online and offline. Online, it provides a 10 percent discount on spending through Kakao Pay, Naver Pay and Shinhan SOL Pay. The same 10 percent discount applies to recurring subscriptions for AI services such as ChatGPT and Claude. Naver Plus and Coupang Inc's Wow membership subscriptions receive a steeper 50 percent discount.

Offline, cardholders can receive a 10 percent discount on purchases at E-mart, Traders Wholesale Club, cafes, CJ Olive Young and Daiso.

Monthly discount caps vary by the previous month's spending. Customers who spent between 500,000 won ($357) and 1 million won in the prior month receive up to 10,000 won in discounts per channel — online and offline separately — each month. Those who spent 1 million won or more receive up to 25,000 won per channel per month, for a maximum annual discount of 600,000 won.

Card applications, usage registration, transaction and statement inquiries, and payment account changes are all available through the Kakao Bank app, which also lets users check accumulated discounts, remaining discount limits and prior-month spending totals. The card's design features a metal plate incorporating Chunsik, a character from the Kakao Friends lineup.

To mark the launch, the two companies are running a sweepstakes through Oct. 31 in which 400 winners will each receive up to 500,000 won in cashback on card spending.

Separately, customers who register for the promotion by Sunday and then spend 200,000 won or more in September will have 150,000 won deducted from their bill. Those who go on to spend 500,000 won or more between October and November will receive an additional 50,000 won benefit. The promotion is open to customers who have had no Shinhan credit card activity or cancellation in the past six months, among other eligibility requirements.

"The Chakbut Card was designed to concentrate benefits in areas customers use most frequently, so they can enjoy meaningful discounts in their daily lives," Kakao Bank said. "We will continue supporting customers' smart spending habits through a wide range of discounts spanning both online and offline channels."

Meanwhile, Kakao Bank recently renewed its real-name verification account service contract with cryptocurrency exchange Coinone for another year.


kyoung@heraldcorp.com