Boy band BTS (Yonhap)
Shinhan Card said Monday it plans to launch private label credit card featuring South Korean boyband BTS and other celebrities later this year, exclusively for K-pop fans.
In partnership with Weverse Company, a fan community platform created by Hybe, the entertainment agency behind BTS, Shinhan will launch PLCCs that offer benefits and rewards to cardholders who buy albums or concert goods via Weverse Shop.
A PLCC is a credit card branded jointly by two business entities that are intended to be used exclusively at a specific retailer. Weverse Shop is an online K-pop merchandise retailer operated by Weverse Company.
Launched in 2018, Weverse operates a mobile application that offers fans paid subscription services through which they can interact with artists or connect with fandoms. Along with BTS, the mobile app currently hosts multimedia events for a total of 27 K-pop artists and their fans living in 233 regions across the globe.
“It is very meaningful to develop credit cards designed exclusively for K-pop fans. Through the latest PLCC partnership contract with Weverse Company, (Shinhan Card) will offer differentiated products and services in terms of card design and benefits, for a greater customer experience and satisfaction,” Shinhan Card said in a statement.
By Choi Jae-hee (firstname.lastname@example.org