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Credit card company SMBC Group enters travel sector

Credit card company SMBC Group enters travel sector

The Sumitomo Mitsui Card (SMCC) from SMBC Group has entered the travel industry.

SMCC, a major credit card issuer in Japan, has partnered with Hopper’s B2B division, Hopper Technology Solutions (HTS), to create a travel loyalty portal that will allow cardholders and rewards program members to book flights, rental cars and accommodations. The portal will launch next year, Hopper announced Thursday.

“HTS is uniquely positioned to power SMCC’s travel portal and provide industry-leading travel booking options to its tens of millions of cardholders and rewards members,” said Dakota Smith, president and co-founder of Hopper. “We are excited to partner with SMCC on this venture and look forward to the portal’s launch.”

HTS is committed to enabling financial institutions to ‘amplify’ travel benefits for their cardholders and currently accounts for approximately two-thirds of the company’s total revenue, with access to millions of travelers around the world.

“At SMCC, we focus on delivering value to our customers in all areas, including areas outside of traditional financial offerings,” said Yoshiro Kagata, managing executive officer for SMCC. “By partnering with HTS to power this portal, our cardholders will have a new way to book travel in the Japanese market and make the most of their loyalty benefits.”

SMCC’s move is just the latest example of financial institutions joining HTC in entering the travel industry.

In May, Brazil-based Nubank, a digital banking giant, announced that it would launch a travel booking platform for its Nubank Ultravioleta customers, a high-income group. Also in May, Korea’s Lotte Card, another credit card issuer, announced a travel portal for its cardholders.