Shinhan Bank is joining hands with Seobuk, the operator of the self-studio brand Photoism, and Shinhan Card to provide mutual growth finance support aimed at easing franchise owners’ funding burdens. It plans to introduce a card payment system for supply payments to improve operational stability for small business franchise owners.

Shinhan Bank said on May 29 it signed a three-party business agreement with Seobuk and Shinhan Card on May 27 at its headquarters in Jung-gu, Seoul to introduce a card payment system for franchise supply payments and support mutual growth finance.

Under the agreement, the three parties will introduce a system that allows Photoism franchise owners to pay supply fees with a dedicated card, instead of the existing cash-centered method.

Franchise owners are expected to reduce the burden of temporary cash outflows that occur during supply payments and increase flexibility in using operating funds. Improvements in store operational stability and management efficiency are also expected.

Shinhan Bank and Shinhan Card also plan to provide comprehensive solutions that link finance and payment infrastructure to support overall management, including franchise owners’ fund management and sales administration.

A Shinhan Bank official said it was “a mutual growth finance model in which the franchiser and financial companies together support easing franchise owners’ practical funding burdens.” The official added, “We will continue to expand financial solutions that help stabilize management for small business owners and franchise operators, based on group synergy with Shinhan Card.”