I-Aurora

I-Aurora Co., Ltd. is a fintech company that provides a customizable prepaid payment and transportation card called the Namane Card, specifically targeting foreign tourists and K-pop fans visiting South Korea. Founded in 2013 by CEO Chang Young-su, the company leverages his background in sports marketing and experience from the nation's largest unmanned ticketing machine manufacturer. The inspiration for the Namane Card came from the high commission fees international visitors faced when using foreign payment methods for K-pop merchandise and other purchases in Korea.

The core product, the Namane Card, integrates a prepaid debit function with a public transportation card, usable at stores, restaurants, and on public transit throughout South Korea. Its main feature is the ability for users to personalize the card with their own images, often of K-pop stars, making it a functional souvenir. Users manage their card through the accompanying Namane app, which allows for top-ups via credit/debit cards and digital payments, balance checks, and fund transfers between pay and transit balances without needing a local bank account. Cards can be purchased and topped up with cash at over 200 kiosks located in airports, subway stations, and convenience stores. The business model is designed to offer a more affordable payment solution compared to international payment systems.

I-Aurora actively collaborates with entertainment companies and intellectual property holders to create limited edition cards for events, such as K-pop fan meetings. The company has also formed strategic partnerships, including one with KB Kookmin Bank to offer discounted currency exchange rates to Namane Card holders at Incheon International Airport. By August 2024, the service had been adopted by 600,000 foreign tourists, addressing the payment challenges in South Korea's increasingly cashless society.

Keywords: prepaid payment card, customizable debit card, South Korea tourism, K-pop merchandise, fintech, tourist payment solution, transportation card, Namane Card, Chang Young-su, cashless payment, travel finance, K-culture, souvenir card, mobile payment app, currency exchange, Incheon Airport, limited edition cards, payment kiosk, visitor finance, fan merchandise