Credit card firm Lotte Card said on Thursday that it has launched LOCA MONEY, a group of financial services covering short-term and long-term loans and “over-the-limit,” credit card services.

The company said the brand focused on financial services is the first of its kind in the credit card industry.

All of the newly launched services are branded under the LOCA MONEY name, including the LOCA MONEY-short term loan, and LOCA MONEY-long-term loan.

With LOCA-prime, the card issuer will allow its VIP customers to increase their credit card limits and extend installment periods, up to 60 months.

“The card issuer will roll out a range of new services, including those that help small business owners delay their repayment, as well as real estate and stock-related services,” a Lotte Card official said.

Since one out of four Lotte Card subscribers utilize financial services, the newly-launched brand will be able to meet the needs of customers, according to the company.

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