BEIJING, Nov. 12 (Xinhua) -- Chinese banks are seeking to issue co-branded credit cards in partnership with large-scale internet platforms, trying to fuel new growth amid already-saturated traditional credit card market, reported Securities Journal on Wednesday.
For example, Bank of Communications on last Wednesday launched co-branded credit cards in collaboration with the e-commerce giant JD.com, as part of its efforts to tap into the mobile payment market.
Large-scale state-owned banks, small and medium-sized banks and commercial banks are the major issuers of co-branded credit cards. Their partners include platforms in sectors such as internet, aviation, catering, entertainment, education, healthcare and insurance, according to the report.
Compared with ordinary credit cards, co-branded credit cards offer more diversified rights and interests, thus win the favor of users. In addition, such cards play an active role in giving full play to the brand advantages of the credit card issuer and the platform, according to Su Xiaorui, senior researcher of Madai Research Institute centered on internet finance. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)
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