BC Card said on November 15 that it would hold a signing ceremony at the Seoul Plaza Hotel on the 16th to issue a check card on behalf of the Korea Federation of Savings Banks.
The latest agreement will allow BC Card to handle all check cards related operations including issuing, transaction approval, and settlement for the 110 member savings banks under the Federation’s umbrella. The member banks will be able to promote the check card starting the first quarter next year.
BC Card believes that the agreement with the Federation will help the company to increase the volume of card processing operations while boosting value for its member merchants. The company plans to complete all the preparation work and computing infrastructure related to the check card by next January and start issuing the card the following month.
Kang Chang-Gu, BC Card Senior Manager for merchant planning, said, “The areas of cooperation with the Korea Federation of Savings Banks are comprehensive in that they include common use of BC Card merchants and card slip purchases, check card issuing and delivery, check card transaction approval and related computing operations, customer service and risk management, marketing and product development support.” “Based on our 26-year know-how in credit card processing, we will provide the best service to the Federation,” he added.
