Hyundai Card, Visa form global data alliance

South Korea’s Hyundai Card has launched a data analysis business with Visa.

Hyundai Card on Monday said it formed a strategic business partnership with the global credit card giant.

Under the agreement, Hyundai Card will provide a data analysis solution to Visa. The former gives its clients solutions to analyze customer consumption data with artificial intelligence for use in marketing.

For this, Hyundai Card has teamed up with Costco, Starbucks and the travel company Yanolja and will participate in operations like virtual cards and B2B payment services promoted by Visa.

“We will roll out data products and services based on the data assets and technologies of both companies,” Hyundai Card CEO and Vice Chairman Chung Tae-young said.

Write to Mi-Hyun Jo at mwise@hankyung.com