Card companies focus on character marketing

By Anna J. Park

Major card companies in Korea are capitalizing on apparent consumer preferences for 'cute' imagery and recognizable animations, using mascots and characters on credit cards to strengthen their brand image and increase customer appeal.

Against a backdrop of decreased profits for credit card companies resulting in cuts to credit card processing fees, the card issuers have newly adopted a myriad of characters to attract customers to their brand.

A debit card launched recently by NH Card which sees Kakao Friends character 'Ryan' on the front has raked in hundreds of thousands of new users thanks in part to its effective character marketing. More than 370,000 'Ryan Cheese' debit cards have been issued since the card's launch in November.

NH Card collaborated with Kakao Friends on this card to release a brand new image of the character Ryan. On the card, he poses as a farmer with a pitchfork in his hand, reflecting the card company's roots in an agricultural cooperative federation. NH Corp's shares are solely held by the National Agricultural Cooperative Federation (NACF.)

“We aim to enhance consumers' affinity and desire to own the card by using a popular Kakao Friends character and effective storytelling,” a NH Card official told The Korea Times. “In addition to the cover design, the card's benefits that those in their 20s or 30s can enjoy in their everyday lives have also contributed to the card's success,” he added.

KB Kookmin Card has seen similar success with its new debit card featuring Pengsoo ― a very popular mascot created by the nation's Education Broadcasting System. Over 162,000 cards have been issued since the card's launch on Feb. 17.

Woori Card also has a top-selling character card. Featuring a character from Cookie Run, a popular video game, the debit card was ranked the 'No 1. Debit card of 2019' and is still enjoying an unshakable number one spot as the most popular debit card in Korea, according to a chart compiled by Cardgorilla.

“The Cookie Run debit card was created through a collaboration with video game Cookie Run,” a Woori Card official said. “Based on its cashback benefits, as well as free airport lounge access, the card is enjoying high popularity. We expect that the card will continue to receive consumers' affection because of its adorable character design and excellent benefits,” he added.

Shinhan Card launched a new debit card last month featuring Kakao Friends characters Muzi and Con. Standard Chartered Bank Korea is also collaborating with the Walt Disney Company, introducing several debit cards featuring famous Disney and Marvel characters.