Fintech
Fintech companies that make remittances abroad collaborate with BC Card
BC Card headquarters in downtown Seoul / Courtesy of BC Card
With over 2.36 million foreign citizens residing in Korea, BC Card meets the needs of fintech companies specializing in overseas remittance business.
BC Card’s convenient payment infrastructure meets the demands of these startups, which aim to apply a “lock-in strategy” to lock their customers into their payment services.
When these overseas remittance startups partner with BC Card, the card issuing company allows fintech companies to issue “prepaid electronic payment cards.”
This allows fintech companies to easily and efficiently provide offline payment services to their customers, as it alleviates the significant financial burden placed on fintech companies to establish their own offline payment infrastructure and networks.
In fact, domestic startups focused on overseas remittance business, such as Hanpass and Gmoneytrans, as well as major fintech companies such as Naver Pay and KG Mobilians, are partnering with BC Card to issue physical cards to their customers.
BC Card logo in Korean
BC Card has the largest card issuing infrastructure in Korea, capable of issuing more than 30 million cards per year. The card issuing company provides comprehensive services, ranging from the production of personalized nametags to the delivery of physical cards to customers.
Another advantage offered by the card company is that its corporate customers can efficiently build the necessary infrastructure for card payment service simply by relying on BC Card’s open API and its largest network of 3.45 millions of merchants nationwide.
Additionally, customers can use BC Card’s QR code technology to offer their own QR payment services.
BC Card was the first in the industry to launch QR code payment services in 2018, following the EMV QR code specifications, which are globally accepted standards.
“About 31% of BC Card’s recent corporate customers are fintech companies. As the largest payment processing company in Korea, BC Card hopes to play a vital role in promoting the growth of K-fintech beyond traditional finance,” a company official said.