Participants including Shinhan Financial Group Chairman Cho Yong-byoung (fourth from left in the front row), Shinhan Card President Lim Young-jin (fifth from left in the front row) show hand gestures symbolizing Shinhan pLay at the Shinhan pLay Unpack Show held at Community House Masil in Jung-gu, Seoul on Sept. 29. (Photo: Shinhan Financial Group)

Shinhan Card plans to raise the number of its members to 30 million by next year from the current 27.5 million through the Shinhan pLay Super App Strategy.

Shinhan Card announced on Sept. 30 that it held an unpack e under the concept of “Let’s pLay, Add Life to Pay” in Masil, a community house located in Seoul.

During the event, the company announced a new start as a living financial platform company through Shinhan pLay, which adds everyday life benefits and services to finance.

Shinhan Card says that its strategy is to transform itself into a “life and finance platform company” by adding everyday life benefits and services to finance to make customers happy.

The company introduced a life finance app tailored to each of its credit card users in which payment functions is implemented at once through automatic facial authentication by applying “shake and slide technology.”

The technology makes credit card payments simple and cuts down on the time it takes customers to use Shinhan credit cards.

Shinhan Card will provide integrated services, such as an integrated membership, for the use of affiliated companies where customers can accumulate bonus points with a single barcode, a walnut service for personal identification and authentication and customized contents based on customers’ areas of interests apart from payment, banking and asset management with Shinhan pLay Super App.

“Shinhan Financial Group which has led the innovation of Korean finance over the past 20 years is innovating itself with a cultural shift called ‘RE:BOOT Shinhan’ and is preparing for another take-off and success,” said Shinhan Chairman Cho Yong-byoung in the unpack event hosted by Shinhan Card President Lim Young-jin.

“Shinhan Card’s introduction of Shinhan pLay today is a meaningful example of the Shinhan Financial Group’s new vision of Easier, More Comfortable and Newer Finance.

I ask Shinhan Card employees to take off as a life & finance platform-powered company by going beyond the traditional credit card business through this move.”

“We have laid the foundation for a take-off based on the solid foundation of the credit card business and rapid innovation toward digitally powered finance,” said Lim Young-jin, president of Shinhan Card.

“By growing into a platform company with 30 million members, we will help customers create and enjoy differentiated and more convenient lives by making customers happy with Shinhan pLay.”

In the meantime, Shinhan Card recently finalized a strategic cooperative relationship to jointly develop a new business model with “Bungaejangter,” a secondhand goods trade platform gaining popularity among the MZ generation.

Shinhan Card announced on Oct. 13 that it has signed a business agreement with Bungaejangter to develop services specialized for the MZ generation and expand the platform traffic and transactions.

The signing ceremony was held at The Hyundai BGZT Lab by Bungaejangter in Yeouido, Seoul with the attendance of Lee Jae-hoo, CEO of Bungaejangter and Lim Young-jin, president of Shinhan Card among others.

Through this agreement, Shinhan Card will secure a solid foundation for partnership in the growing used article trade market. At the same time, the company plans to develop new contents and expand platform customers in connection with the newly launched Shinhan pLay service.

In particular, Shinhan Card recognized the importance of the used article trade market which has grown to a 20-trillion-won-a-year market and the MZ generation which has emerged as the next major consumer group and pushed for a partnership agreement with Bungaejangter which has many MZ generation users — more than 70 percent of its total users.

“It is quite meaningful for Bungaejangter to collaborate with the leading domestic credit card company of Shinhan Card,” Lee Jae-hoo said.

“Through this MOU, Bungaejangter will introduce new and innovative services focusing on provide more convenient and advanced services for second-hand goods trade.”

“We expect the meeting of the two leading platforms in their respective fields to create new synergies between the two platforms,” a Shinhan Card official said.

“We will create easier, more comfortable and newer services by combining finance and customers’ lifestyles.”