Shinhan Card, Hana Card join SK Telecom's 'AI for All' consortium

Building an AI ecosystem for everyday life

Shinhan Card and Hana Card said Thursday that they will join SK Telecom's consortium as financial partners in South Korea's Ministry of Science and ICT's "AI for All" project, a nationwide initiative to popularize AI. The two card companies plan to accelerate development of next-generation payment infrastructure in which AI agents handle everything from product search to payment on users' behalf.

"AI for All" is a state project that supports free access to general-purpose chatbots and AI agents for all citizens, built on domestic foundation models. The Ministry of Science and ICT selected three consortiums — led by SK Telecom, Kakao and KT Corp — as service providers after evaluating their technological capabilities and public benefit. The ministry is developing the service with the aim of launching it to the public in December.

The SK Telecom consortium plans to make the service accessible not only through apps and the web but also by phone and text message, improving access for those less familiar with digital technology. It also intends to build a phone-based proxy function connecting users to stores or government offices that lack official APIs.

In the consortium, the two card companies will develop "Agent Pay," which combines AI agents with payment systems. Under the service, when a user makes a request in natural language for a desired product or service, the AI searches for and recommends suitable options. It then completes the payment using the user's registered payment method.

Previously, even when an AI chatbot recommended a product or service, users had to move to a shopping site or an external payment page to complete the purchase. With Agent Pay, users will be able to search for, select and pay for products without ever leaving the AI agent's chat window.

Shinhan Card will focus its capabilities on security and consumer protection issues that could arise as AI makes payments on users' behalf. The company plans to detect attempted fraudulent transactions caused by AI malfunctions or chatbot hacking in real time through its fraud detection system. It will also establish a compensation and dispute-resolution framework for cases of erroneous purchases by agents or system errors.

Hana Card will combine its own payment and authentication technology with SK Telecom's telecommunications infrastructure and agent interfaces such as A. The company plans to expand the service's scope to everyday spending, including shopping, travel, leisure and utility payments. It will do this by linking with the consortium's lifestyle service partners in mobility, shopping and reservations.

In particular, the companies aim to reduce complicated search and authentication procedures. This will create an environment in which older adults and others who struggle with digital devices can use financial services simply by talking.

A Shinhan Card official said, "In the era of agentic commerce, where AI takes part as a payment agent, the role of card companies in safely protecting customers' assets will become even more important. We will work with SK Telecom to establish South Korea's AI payment standard and build a next-generation financial ecosystem that customers can trust."

A Hana Card official said, "We are moving into an era of agents where AI understands customers' requests and actually carries out services. We will provide a new experience in which customers can find, select and pay for the services they want."

forest@heraldcorp.com