Seoul Mayor Oh Se-hoon uses the Climate Card to take the subway at City Hall Station in Jung District, central Seoul, Jan. 29. Korea Times file
A postpaid all-inclusive monthly transit pass, which combines credit and debit card functions, will be available for use starting Saturday, according to the Seoul Metropolitan Government and card industry officials.
The postpaid Climate Card offers unlimited public transportation benefits, and additional card-specific benefits. Credit card companies are competing to dominate this market.
The postpaid card can be issued and used through individual credit card companies.
Eight major card companies — Shinhan, KB Kookmin, Lotte, BC, Samsung, NH NongHyup, Hyundai and Hana — have begun accepting card issuance applications since Monday.
It is also scheduled to be launched by Woori Card and IBK Industrial Bank in the not-too-distant future.
The Climate Card is available for use on all subway lines and buses in Seoul. Its usage will be expanded to include Goyang and Gwacheon in Gyeonggi Province, also starting from Saturday.
Until now, the Climate Card, which went into service in January this year on a pilot basis as part of efforts to reduce transportation fees and tackle climate change, operated on a prepaid system, requiring users to recharge it in advance before use.
The postpaid card, however, features an automatic renewal system that updates on the first day of every month, eliminating the need for manual recharging and automatically settling transportation fares.
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The card offered by Shinhan, Samsung, KB Kookmin and NH NongHyup focuses on providing discounts for living expenses such as shopping, streaming service subscriptions and delivery apps.
Lotte and BC Cards, on the other hand, emphasize reducing transportation costs. For example, Lotte Card offers discounts ranging from 7,000 won ($5) to 15,000 won based on usage performance.
After issuance, the postpaid Climate Card must be registered on the T-money website. If the card is used for public transportation without registration, the full fare will be charged.