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CARDS & PAYMENTS | Cesar Tordesillas, China

ICBC promotes consumer upgrade with innovative payment services

THe total value of transactions using ICBC bank cards surpassed RMB 3.2 trillion.


The figure represents a jump of around 43% over previous year.

On the other hand, the total value of transactions using ICBC credit cards rose more than RMB 330 billion, or 50%, from a year earlier to nearly RMB 980 billion. The credit card loan outstanding of ICBC surged around 94% from the beginning of 2011 to RMB 170 billion at the end of the year.

ICBC is providing more comprehensive financial services for cardholders, and playing an active role to the consumer growth and economic restructuring.

Industry insiders commented that the popularity of payment using bank card not only benefits in saving the transaction cost of payment system, but creates a better payment environment for cardholders.

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