Starbucks and Hyundai launching its own credit card

South Korean conglomerate Hyundai’s credit-card subsidiary Hyundai Card is collaborating with Starbucks to launch a private-label credit card.

The card will be made available later this year with marketing and operations are taken care of by the local issuer. Customers bearing the card will be eligible for all rewards offered by Starbucks on top of regular credit functions and will enjoy optimized benefits from both firms.

“Along with the private-label credit-card product, we will spur the development of customized services based on our big data,” company officials said.

The partnership marks Starbucks’ first such private-label alliance within the territory, while Hyundai has previously set up such agreements with E-mart, eBay, Costco, GS Caltex and Korean Air, among others.