Shinhancard, an affiliate of Shinhan Financial Group, one of South Korea’s largest credit and card issuer, and global top-5 credit card issuer, expressed their intention to develop a cross border, loyalty point program. The aim was to expand the acceptance of Shinhancard’s loyalty program to international markets and enable borderless interoperability.

Leveraging OmiseGO’s expertise in finance technology and blockchain, Shinhancard and OmiseGO worked together to develop a proof-of-concept (POC) of a cross border, loyalty point program.

The demonstration is based on a transaction of digital assets that represent Shinhancard’s reward point. The demonstration was built on top of OmiseGO’s ‘enterprise interface’ tool that allows an enterprise developer or any technical team to quickly grasp the concept of Plasma (scaling solution) and make direct, fast transactions through a web interface. It is built with extensibility in mind, so developers can understand and bootstrap their own POC and easily validate business use cases with Plasma.

Shinhancard’s reward points can be used with any online and offline merchant in Korea. If card holders of Shinhancard purchase products in the company's payment app, called ShinhanPay FAN (Finance and Network), users can earn extra benefits from partner companies of Shinhancard.