South Korea’s Shinhan Card said Thursday it has signed a three-year partnership agreement with US-based online retail giant Amazon, as it seeks to aggressively expand its list of global partners.
According to the card issuer, an array of benefits will be provided for Shinhan Card users who use e-commerce and other services by Amazon. Both firms will first jointly launch a promotion on Nov. 15 for its customers seeking overseas direct purchases during the fast-approaching Black Friday sales.
Shinhan Card CEO Lim Young-jin (center) takes a group photo with Amazon officials at Shinhan Card’s headquarters in central Seoul on Thursday. (Shinhan Card)
The partnership marks the first such deal between a local financial institution and the online e-commerce giant.
Thursday’s announcement follows the Korean firm’s decision to team up with global streaming service Netflix in September.
The collaboration with Netflix allows Shinhan Card users to use upgraded streaming services at discounted prices and provides the card issuer with a digital platform for its marketing campaigns.
Online payment firm PayPal and travel site Skyscanner are already global partners of Shinhan Card.
“We plan to strengthen our partnership to provide special benefits to customers who do overseas direct purchases,” Shinhan Card CEO Lim Young-jin said in a statement.
By Jung Min-kyung (firstname.lastname@example.org