Lotte Card Co., Ltd., a prominent Korean credit card issuer, has partnered with Hopper Technology Solutions (HTS) to develop a travel loyalty portal for Lotte Card cardholders. This new feature, integrated into the ‘Digi-LOCA’ app, will offer services such as flights, accommodations, and car rentals, leveraging HTS’s travel technology to provide a more comprehensive travel booking experience.
Lotte Card, which services 9.35 million credit card members and around 3.13 million affiliated merchants, has a strong emphasis on lifestyle financial services focused on customer value. The company’s offerings currently include benefits at department stores, hypermarkets, home shopping, cinemas, and coffee shops. This new travel portal will further expand its service portfolio.
Dakota Smith, CEO of HTS, expressed optimism about the collaboration, stating, “The partnership between HTS and Lotte Card is perfectly suited to create a curated and highly personalised travel offering for their millions of cardholders. HTS’s leading travel technology will enable Lotte Card to create synergies with its existing verticals and offerings.”
HTS, the B2B division of the global travel platform Hopper, focuses on providing data-driven solutions to enhance transparency, flexibility, and savings for travellers. HTS’s fintech and travel products are designed to help travel brands optimise their direct channels. The division accounts for two-thirds of Hopper’s business, serving millions of travellers worldwide.
James Cho, CEO of Lotte Card, highlighted the strategic significance of the partnership. “I’m very excited to have a partnership with HTS which has experience in providing global travel services and various fintech-based ancillaries. Through solid collaboration, we’re going to create a digital platform that gives customers optimal travel experience and maximise the enjoyment of travel,” he said.
Established in 2002, Lotte Card is transitioning beyond traditional credit card operations, focusing on a future-oriented model that emphasises convenience and benefits for customers. The ‘Digi-LOCA’ strategy is central to this transformation, featuring curated services to aid customers in making valuable consumption decisions quickly and easily.
Financially, as of the end of 2023, Lotte Card reported assets of 22.2893 trillion won, capital of 3.1763 trillion won, operating revenue of 24.541 trillion won, operating expenses of 21.996 trillion won, operating income of 254.5 billion won, and net income of 374.8 billion won.
