Finance
Financial firms run contactless Chuseok promotions amid coronavirus pandemic
Published : Sep 29, 2020 - 16:11
Updated : Sep 29, 2020 - 16:11
Kakao Pay CEO Ryu Young-joon talks to reporters in Seoul on May 20, 2019. (Yonhap)
With the Chuseok holiday just around the corner, financial firms and rising fintech firms are making efforts to offer new services to attract customers amid the ongoing coronavirus pandemic.

Kakao Pay, a payment solutions firm under mobile messenger giant Kakao, has launched a marketing campaign for its money transfer service. During the promotional event from Sept. 16 to Oct. 5, the company will pick eight users who send Chuseok gifts via the payment platform, and will reward them with the same amount they spent, up to a maximum of 2 million won ($1,707).

During the holiday, people often give money to their children or parents. Amid the coronavirus pandemic, a large number of people are expected to choose to send gifts instead of visiting family.

“Because of the coronavirus pandemic and rising concerns over a resurgence, Kakao Pay has decided to launch such an event in hopes of perking up those who may be frustrated by not being able to meet their family and relatives during the holiday,” an official from the fintech firm said.

Shinhan Bank, a leading commercial bank here, on the other hand, has a campaign enabling customers to check routes to their hometown via a street view map. Upon arriving at their hometowns, customers can open up virtual gift boxes and get free chicken coupons. For those who send message cards via Shinhan’s online banking platform, the commercial bank offers monetary rewards of up to 10,000 won, while some winners will receive gift certificates or electronic massage chairs.

Credit card issuer Hana Card offers discounts for subscribers who buy Chuseok gifts at grocery stores including Emart, Home Plus and Lotte Mart, while rival Woori Card provides discount benefits for those who shop at e-commerce malls, including Market Kurly and WeMakePrice.

To appeal to consumers who prefer online shopping over brick-and-mortar stores, online e-commerce giants are preparing for a busy season around the five-day holiday. Among them are 11st, which has launched a contactless gift delivery service that allows consumers to send gifts via smartphone. All recipients have to do is register their addresses through online links sent to their phones, according to the firm.

By Kim Young-won (wone0102@heraldcorp.com)
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