KB Kookmin Card Signs MOU with Criteo for Agent Payment Business

On May 29, KB Kookmin Card announced that it had signed a memorandum of understanding (MOU) for the "Agent Payment and Commerce Intelligence Joint Business" with Criteo, a global commerce intelligence platform.

Lee Hojun, Executive Director of Digital Business Group at KB Kookmin Card (left), and Kim Doyun, CEO of Criteo Korea, are posing for a commemorative photo at the signing ceremony for the "Agent Payment and Commerce Intelligence Joint Project." KB Kookmin Card

This agreement was established to enhance data-driven advertising and marketing competitiveness by connecting KB Pay's payment and customer data with Criteo's AI-based advertising optimization technology, as well as to jointly respond to changes in the AI agent-based payment market. The signing ceremony was attended by Hojoon Lee, Executive Vice President of Digital Business Group at KB Kookmin Card, Doyoon Kim, CEO of Criteo Korea, and other key officials from both companies.

Through this partnership, the two companies will promote a collaborative model to strengthen KB Pay's data-driven marketing capabilities and commerce alliance competitiveness by linking data between the platforms. By combining KB Kookmin Card's payment and customer data with Criteo's AI-based advertising optimization engine, they plan to more precisely analyze customer interests and purchase potential, and to effectively deliver information about relevant products and services to customers.

Furthermore, both companies are also paying attention to the possibility of a new commerce environment where AI is involved in every stage from product discovery to recommendation, purchase, and payment. In response, they plan to cooperate on verifying the business feasibility of agent payment commercialization and discovering new business models by integrating their respective payment and customer data, financial platform operation capabilities, and AI-based commerce intelligence.

A KB Kookmin Card official stated, "In a digital platform environment where AI, data, and payments converge, this agreement marks a meaningful starting point for providing customers with more precise and personalized services, and for proactively responding to changes in the AI-based payment market. Going forward, we will continue to provide more convenient and valuable digital experiences centered on KB Pay, and actively respond to future changes in the commerce and payment markets."

Doyoon Kim, CEO of Criteo Korea, remarked, "We are very pleased to establish this partnership with KB Kookmin Card. This agreement is intended to apply Criteo’s proprietary AI technology to domestic financial services so that consumers can enjoy easier and more enjoyable shopping experiences." He added, "Based on our AI-powered commerce vision, commerce intelligence will support consumers’ complex decision-making processes and, together with KB Kookmin Card, offer next-generation commerce experiences that seamlessly extend to the payment stage."

This content was produced with the assistance of AI translation services.