[Edaily Reporter KYUNG GYEYOUNG ] HYUNDAIDEPARTMENTSTORECO.,LTD is discontinuing its mobile-exclusive “HYUNDAIDEPARTMENTSTORE FIT Card,” which was launched to attract Gen Z and Millennials, after five years. This decision comes as the variety of mobile payment methods, such as those available through the HYUNDAIDEPARTMENTSTORE app, has expanded, eliminating the need to operate a separate mobile-exclusive card.

According to industry sources on the 15th, HYUNDAIDEPARTMENTSTORECO.,LTD(069960)has recently decided to suspend new issuances and renewals of the HYUNDAIDEPARTMENTSTORECO.,LTD FIT Card.

HYUNDAIDEPARTMENTSTORECO.,LTD introduced the FIT Card in 2021 as a mobile-only credit card to target the MZ generation. It could be used at HYUNDAIDEPARTMENTSTORECO.,LTD, Hyundai Outlet, and The Hyundai.com.

A key feature of the FIT Card was that it could be issued and used instantly via a smartphone, but this advantage has diminished due to the rise of mobile payment services. Following HYUNDAIDEPARTMENTSTORECO.,LTD’s introduction of the integrated mobile payment service “H.Point Pay” in 2022, the HYUNDAIDEPARTMENTSTORECO.,LTD mobile app also added a mobile card payment feature in 2023.

The FIT Card offered an additional 2% on top of the standard accumulation rate for the integrated H.Point membership program when purchasing items in three categories—luxury goods, cosmetics, and contemporary fashion—which are primarily used by the MZ generation. It also provided 12-month interest-free installment benefits twice a year.

It is reported that, instead of discontinuing the FIT Card, HYUNDAIDEPARTMENTSTORECO.,LTD is preparing promotions and other initiatives to provide benefits to MZ-generation customers.