Lotte Card introduced the ‘Travel En Locar’ card through partnership with Travel Wallet, a fintech startup.
The biggest feature of this card is that it saves up to 3% of the amount used as ‘Travel Points’ that can be exchanged for foreign currency in the Travel Wallet app. All domestic and foreign affiliated stores offer a basic 1% travel point accumulation benefit, and overseas/airline/travel agency affiliates can receive a 3% special bonus of up to 50,000 points per month.
Travel Point is a point of Travel Wallet that lowers the burden of currency exchange fees. When exchanging money in the Travel Wallet app, there is no exchange fee for major currencies (dollars, euros, and yen), and a low exchange fee of 0.5% or less is applied to other currencies.
Currently, you can exchange currency in 15 countries (USA, Europe, Japan, UK, Thailand, Vietnam, China, Indonesia, Malaysia, Philippines, Singapore, Hong Kong, Australia, Canada, Taiwan). Each currency exchanged can be paid for at an overseas affiliate store through the ‘Travel Pay Card’, a foreign currency prepaid card of Travel Wallet, or can be withdrawn in foreign currency at an overseas VISA ATM.
In addition, when paying for airfare for international flights departing from Korea with a Travel En Locar card, you can receive ‘overseas traveler insurance’ benefits. Up to 250 million won in case of death/sequelae/disability while using public transportation abroad, up to 100 million won in case of injury/sequelae/disability while traveling, up to 250 million won in compensation for actual injury medical expenses, up to 250 million won in compensation for medical expenses offer a million dollars.
It also provides useful additional benefits when traveling abroad. ‘MOVV’, a private vehicle transfer service for domestic and overseas airport pickup/sending service, 30,000 won voucher, overseas luggage delivery and storage service ‘Good Luck’ 30,000 won voucher, ‘The Lounge’ affiliated airport lounges located at domestic and international airports 1 You can choose one of the coupons for a one-time free pass, and each year, you can choose the benefits you want.
Special savings benefits, overseas travel insurance benefits, and additional benefits are provided until December 31, 2023, and will be re-announced if extended. The Travel Enrocar card annual fee is 50,000 won (domestic only/VISA), and you can apply for issuance on the Lotte Card Digiro Car app or website.
A Lotte Card official said, “This partnership is a part of ‘open innovation’ that utilizes Lotte Card’s know-how and resources to support startups with novel ideas and technologies. It will provide an experience.”
/ Fortune Korea Correspondent Gong Gong-ho ball@fortunekorea.co.kr
