Costco Korea's partnership with Hyundai Card to shift card industry
- 5 years ago
현대카드, 코스트코 품고 업계 3위로 도약하나…24일부터 결제
The Korean unit of Costco,... with billions of dollars in sales a year,... has switched credit card companies as of last Friday.
No more Samsung Card Costco now takes only cash or Hyundai Card, which promises major changes to the local card industry.
It's a move that affects more than a million local Costco members who shop at the company's 16 local warehouse stores.
According to the Financial Supervisory Service, Costco posted sales last year of three-point-three billion U.S. dollars, ...and 70 percent of that was put on credit cards.
This 10-year deal is expected to help Hyundai Card grow its market share, … and maybe even overtake Samsung Card to move from fourth place to third.
The Korean unit of Costco,... with billions of dollars in sales a year,... has switched credit card companies as of last Friday.
No more Samsung Card Costco now takes only cash or Hyundai Card, which promises major changes to the local card industry.
It's a move that affects more than a million local Costco members who shop at the company's 16 local warehouse stores.
According to the Financial Supervisory Service, Costco posted sales last year of three-point-three billion U.S. dollars, ...and 70 percent of that was put on credit cards.
This 10-year deal is expected to help Hyundai Card grow its market share, … and maybe even overtake Samsung Card to move from fourth place to third.