Hyundai Card, which has innovated finance with the world’s first data science-based PLCC (Private Label Credit Card), is introducing a new dimension product.
On the 28th, Hyundai Card announced the launch of ‘3 Body-A Hyundai Card’, a product that combines three PLCCs into one, in collaboration with its PLCC partners, Korean Air, Genesis, and SSG.COM.
The ‘3 Body-A Hyundai Card’ is the first-ever 3 in 1 PLCC in the history of credit cards, born from the active participation of partners who have long collaborated based on data science, combined with the imagination of Hyundai Card. Indeed, Korean Air, Genesis, and SSG.COM have actively participated in the data alliance among Hyundai Card’s PLCC partners, experiencing business synergy among partners, leading to a growing need for product collaboration beyond marketing collaborations. This idea of creating a new PLCC that combines the benefits of three brands has resulted in the launch of the ‘3 Body-A Hyundai Card’.
Hyundai Card planned this product based on the results of analyzing payment data from the three partner companies. All three PLCCs are primarily used by 30-50 age group members with high income levels who enjoy leisure activities and premium products and services. Based on these data analysis results, Korean Air, Genesis, and SSG.COM recognized that there would be significant synergy if the three companies launched a PLCC together.
The ‘3 Body-A Hyundai Card’ breaks the conventional concept of PLCCs, which allows the accumulation of rewards from only one brand. Instead, it allows users to earn rewards from three PLCCs simultaneously using just one credit card. Users can accumulate Korean Air mileage, Genesis’s Blue Members points, and SSG.COM’s SSG MONEY in any ratio they desire. The proportion of rewards received from each brand during payment can be adjusted by the user in increments of 10%.
Meanwhile, the ‘3 Body-A Hyundai Card’ reflects Hyundai Card’s worldview, where the partner companies are represented as planets, and the data alliance is depicted as a galaxy. Thus, the name ‘3 Body-A’ was inspired by the astronomical term ‘three-body problem,’ representing the interactions between the three planets. Aside from this product launch, Hyundai Card foresees great demand for additional product collaborations from PLCC partners, planning to expand offerings into 2 Body, 3 Body-B, C, and more.
The plate features designs symbolizing the three PLCCs. The design showcases ‘Sky’ representing Korean Air, the ‘Grill’ emblematic of the front of automobiles for Genesis, and SSG.COM’s signature pattern of ‘Stripes’. It will be offered in three types: ‘Metallic Blue,’ a metal plate, and ‘Dynamic Blue’ and ‘Refined Graphite,’ standard plates.
Since launching its first PLCC in 2015, Hyundai Card has been building data alliances with partners since 2020 and has conducted over 2,000 data science-based marketing collaborations. Therefore, the industry sees this product launch as something only Hyundai Card, which has built a data science-based PLCC ecosystem with 19 champion brands worldwide, could achieve.
In particular, this product marks a significant evolution of Hyundai Card’s PLCC, advancing from joint marketing based on data science among partners to the joint launch of products.
A Hyundai Card representative stated, “The ‘3-Body-A Hyundai Card’ is a PLCC product that adds Hyundai Card’s imagination to the active and proactive collaboration efforts of PLCC partners through Hyundai Card’s data alliance,” adding, “We plan to provide new value through a combination of various PLCCs in the future.”
More details about the ‘3 Body-A Hyundai Card’ can be found on the Hyundai Card app and website.
Contact: Lee Sang-jin daedusj@autodiary.kr