OREANDA-NEWS. December 10, 2012. Beginning from this year, ICBC spent consistent efforts on card services through product innovation, card acceptance solutions and customer services. As a result, ICBC cardholders are encouraged to use cards to spend since payments are faster and more convenient, reported the press-centre of ICBC.  

At the end of October, 2012, more than RMB 3 trillion has been spent using ICBC bank cards, to RMB 3.23 trillion. Of which, the total amount which has been spent using ICBC debit cards was RMB 2.23 trillion, a jump of RMB 408.5 billion from a year earlier, or 22.41%; while the total amount which has been spent using ICBC credit cards was over RMB 1 trillion, a jump of RMB 241.3 billion from a year earlier, or 32%.

It's now very common to use bank card to pay, given the healthy growth of China's economy and improved payment convenience for cardholders, said an ICBC executive. In light of this, ICBC takes all necessary measures to meet the demand of customers who prefer using cards for payment, providing greater access, more products and better services to cardholders. The comprehensive financial services of ICBC make it faster and easier for cardholders to pay and spend more.

In providing cardholder convenience at the point of sale, ICBC has installed a great number of bank card terminals/devices over the past few years, up to 652,000 POS so far. The Bank also spent efforts to upgrade the service network and availability of bank card terminals/devices. While speeding up the effort on signing up merchants, 637,000 merchants accept ICBC credit cards as of end of October 2012, covering every aspect of daily living expenses of cardholders, as well as merchants selling branded merchandize to discerning cardholders and Chinese residents with diversified needs.

Meanwhile, ICBC launches chip cards leveraging its domain expertise in R&D and security technology. Through upgrade in card functions, deployment of more contactless POS and card acceptance channels, new chip cards offer higher security, wider availability. Cardholders can now pay faster and safer at the same time. Up to end of October, 2012, ICBC has issued 37.29 million chip cards, out of which, 21.65 million debit cards, 15.64 million credit cards.

The total amount which has been spent using chip cards reached RMB 662.7 billion, RMB 533.1 billion by debit cards, RMB 129.6 billion by credit cards.Meanwhile, ICBC spent tenuous efforts to improve the card acceptance solutions while concentrating on the R&D and promotion of chip technology. Up till now, all ICBC counters and self-services devices have been upgraded to accept chip cards. ICBC joins force with industry partners on chip card innovation and provides convenient financial services to cardholders.

 Chip cards can now be used in transportation management, railways ticketing, highway toll, commercial co-branded, social security/medical insurance or property management, entertainment and restaurant. ICBC also rolled out different types of chip cards for small offline payments, chip cards for cardholders to pay highway toll (ETC), e-points and gate pass. Cardholders not only use chip card to pay but enjoy many value-added services in different areas - air ticket, railway ticket, public transport, highway toll and social security.