Innovative Credit Cards Issuing System
to be Launched in October 2023
~ Enabling a Low Cost and Swift Credit Card Issuance in Japan ~

September 28, 2022

Hyundai Card Co., Ltd.
Bankware Global Co., Ltd.
GMO Payment Gateway, Inc.

The four companies of Hyundai Card Co., Ltd. (Vice Chairman & CEO Ted Chung , "HCC"), Bankware Global Co., Ltd. (Co-CEO Kyungjo Lee and Co-CEO Eunjoong Lee, "BwG"), EXA CORPORATION (President & Chief Executive Officer Tomosuke Senta, "EXA") and GMO Payment Gateway, Inc. (President & Chief Executive Officer Issei Ainoura, "GMO-PG") have agreed to collaborate to launch H-ALIS (Hyundai Advanced Library Card Information System) in Japan, the credit card core platform provided by HCC, the No.1 company (※1) in the number of PLCC (Private Label Credit Card) issued in South Korea. H-ALIS will be localized for the Japanese market and offered by GMO-PG as "Credit Card Issuing Support" of the "GMO-PG Processing Platform" service from October 2023, as part of its BaaS (Banking as a Service) (※2) to financial institutions such as banks and credit card companies.
H-ALIS is a package software with a notable track record, that enables credit card issuing by setting parameters and default templates that does not require any programming work. Therefore, this system makes it possible for Japan's financial institutions and financial service operators to issue credit cards swiftly and to reduce the development cost.

  • (※1)Survey results as of Aug. 2021 by HCC.
  • (※2)Refers to organizations that are financial license holders to provide financial functionality (APIs) as a service to financial institutions.

Innovative Credit Cards Issuing System to be Launched in October 2023

【Background and Overview】

Japan's cashless penetration rate as of 2021 stands at 32.5%. Japan's government is aiming to raise this to the global standard of 80% in the future through initiatives that promote cashless payments.(※3) In particular, payment using credit cards are widespread, accounting for 85.3%(※3) of the value of cashless payments, leading to rising need by operators to swiftly issue various types of credit cards such as proper cards(※4), affiliated cards as well as virtual cards, etc. going forward.
Given this backdrop, the four companies of HCC, BwG, EXA and GMO-PG will provide Japan-localized H-ALIS as an ASP service, the credit card core platform provided by HCC, the No. 1 company in issuing affiliated cards in South Korea, a country known for its advanced credit card usage with a credit card payment ratio of 75.4% (as of 2017) of private consumption.(※5)
The launch in Japan will be carried out by GMO-PG as "Credit Card Issuing Support" of the "GMO-PG Processing Platform" service, which is a BaaS support service for financial institutions such as banks and credit card companies. This service will be provided for a monthly fixed rate to keep cost levels low for customers. In addition, work burden of credit card issuing can be significantly reduced for financial institutions and financial service operators that implement this service, as GMO-PG will ensure that the system is fully compliant with PCI DSS(※6) as well as secure the data center and system operation personnel. Furthermore, the scalable API core system will enable adding on various value-added services to cardholders and linkages to external FinTech service providers.

  • (※3)Payments Japan Association's "Cashless Roadmap 2022" (announced on August 3, 2022).
  • (※4)Independently by the card issuer refers to the issued credit card.
  • (※5)Reference to Ministry of Finance's report on the study group on innovation in the digital age, Chapter 9 on South Korea (announced on June 2019).
  • (※6)Refers to the global security standards applied to the credit card industry.

【Collaboration between the Four Companies】

South Korea's HCC holds the patents for H-ALIS, the credit card core platform, and will provide the license for H-ALIS to GMO-PG. BwG will be responsible for customization and system maintenance as the marketer of H-ALIS' applications. EXA will provide customization to fit the diverse needs and specifications of customers, onboarding and operational integration services by leveraging its 35-year track record in development and systems operations and its leadership role in localizing H-ALIS for the Japanese market. GMO-PG will offer the Japan-localized H-ALIS as an ASP service by carrying out the sales activities, development and FEP in the Japanese market(※7).

  • (※7)FEP stands for Front End Processor and refers to the system required for a credit card company to connect/access an external network.

【Japan Launch of H-ALIS】

H-ALIS is a core platform for credit cards provided by HCC in South Korea. Localization is being carried out to align H-ALIS for the Japanese market such as Japanese language, payment methods, credit card networks and laws and regulations. H-ALIS is a package software characterized by its flexibility and high scalability, enabling efficient credit card issuing operations. GMO-PG will offer this system as the "Credit Card Issuing Support" of "GMO-PG Processing Platform" service, as part of its BaaS support provided to financial institutions and financial service operators.

■ Low-cost and swift credit card issuing
Credit cards can be issued swiftly by using the default templates and setting the parameters, thereby reducing the development cost and labor cost as well as shorten the lead time for issuing to around one week compared to the conventional several months.
■ Smooth system linkage by leveraging API base
Scalability of the API base enables easy linkages with external service providers such as credit information organizations and printing companies.
■ Rapid upgrading/improvement of functions
The system uses the widely adopted Java script which enables rapid functional upgrades and improvements even after implementation.

【Hyundai Card Co., Ltd.】

Hyundai Card, a financial arm of Hyundai Motor Group, has been leading Korea's credit card industry with a wide range of products optimized for the lifestyles of its card holders. In 2021, Hyundai Card reached 10 million members thanks to the overwhelming growth of its' PLCCs (Private Label Credit Card) and custom card benefits established by utilizing data science . Initially a traditional finance company, Hyundai Card has transformed into a financial technology company excelling in AI and data science.

【Bankware Global Co., Ltd.】

Bankware Global was established in October 2010 as a financial software company of South Korea that develops and provides next generation core-system software systems such as core banking, credit card core and installment lease finance to banks and financial companies. Bankware Global services over 100 corporate customers in 6 countries(※8) that are leading bank and financial institutions in Asia. In Japan, the subsidiary Bankware Japan offers software marketing for credit card and banking systems, system architecture and maintenance business.

  • (※8)As of September 28, 2022.


EXA CORPORATION promotes DX by leveraging cutting edge technology and comprehensively offers various upstream services ranging from consulting to development, operation and maintenance services.
In particular, EXA has been involved in building out the payment systems for over 40 companies(※9) over its 35-year track record in the payment industry and contributes to corporate digital innovation through services and system development capability that integrates abundant operation expertise and cutting edge technology.

  • (※9)As of September 28, 2022.

【GMO Payment Gateway, Inc.】

GMO-PG offers comprehensive payment-related services and financial-related services to over 100,000 merchants such as online operators including internet shops and public sector organizations such as NHK, National Tax Agency and the Tokyo Metropolitan Government. The annual transaction value exceeds \10 trillion (as of end of June 2022, consolidated basis) by primarily focusing on payment services such as value-added services that contribute to the merchant's growth, payment methods that utilize financial technology and service that respond to funding needs.
As the leading company in the payment industry, GMO-PG offers payment, financial-related solutions and platforms and builds payment infrastructure for business operators and financial institutions that are pursuing cashless adoption and DX. In addition, GMO-PG is also expanding globally by deploying payment-related services and through loans and equity investments into overseas cutting-edge FinTech companies. GMO-PG is committed to drive innovation to realize a sustainable society and to contribute to the advancement of society.