Go to contents

Domestic firms advance into Chinese mobile card market

Posted April. 17, 2015 08:07,   

한국어

In the near future, KB Kookmin Card and LG Uplus subscribers can pay in China with mobile credit cards issued in Korea.

KB Kookmin Card and LG Uplus announced on Thursday that the domestic credit card company and the mobile carrier signed a partnership with China UnionPay, the biggest credit card firm in China, to advance into the mobile card payment market in China.

The three companies concluded a memorandum of understanding for mobile card issuance and payment service partnership while KB Kookmin Card President Kim Duk-soo, KB Financial Group Chairman Yoon Jong-kyoo, China UnionPay and UnionPay International Chairman Ge Huayong, and LG Uplus Vice Chairman Lee Sang-chul attended at the signing ceremony held in LG Uplus head office in Seoul on the same day.

Thanks to the collaboration, LG Uplus subscribers can use the KB mobile cards in collaboration with UnionPay issued in Korea to pay at Chinese stores that accept UnionPay starting from July.

“This is the first case for a domestic credit card firm to advance into the Chinese mobile card market. Through close collaboration with UnionPay and other partners, KB Kookmin card will provide innovative and borderless mobile fintech services,” said Kookmin Card President Kim Duk-soo.



minki@donga.com