OREANDA-NEWS. April 30, 2014. ICBC credit cards were awarded China's Top Credit Card in the recent survey of China Brand Power Index (C-BPI) funded by the Ministry of Industry and Information Technology of the People's Republic of China, marking the leadership of ICBC among domestic peers by credit card volume and the recognition by markets and customers in terms of brand, channel and service.

C-BPI, funded by the Ministry of Industry and Information Technology PRC, is known as an independent and impartial survey to discover the leading brands in each industry based on feedbacks on used or owned products and services from Chinese consumers. It is a reliable brand evaluation system and the findings are authoritative.

According to an executive with ICBC, this honor signaled the high holding ratio, use rate and recognition in a large number of customers. ICBC's tailored and rapid services in an era of payment with bank card gained customer loyalty via diversified functions, enhanced service environment, increasing measures to benefit people and safe environment for bank card use.

ICBC maintained a leading position among domestic peers by credit card business. As of the first ten days of March, ICBC was the first bank in China exceeding 90 million in credit card issuance with almost 62 million credit card customers. As a result, it has become the largest credit card issuer in Asia. Meanwhile, ICBC also secured its leadership in core business indicators including consumption volume and overdrafts.

More innovated credit card products and convenient experience activities have translated into a good reputation and recognition. As the first commercial bank in China to roll out IC card in compliance with PBOC 2.0 and EMV standard, ICBC has continued with innovations in recent years such as chip cards in transportation management, railway ticketing, social insurance and health insurance, campus all-purpose card, and credit cards related to people's livelihood. With new products such as multi-currency cards, Global Travel Card, Easy Loan Card, it has provided a full spectrum of business travel services and real benefits covering basic necessities of life, travel, shopping and study for card users.

Credit card service channels including telephone banking, SMS banking, online customer service of Internet banking and interactive voice service of telephone banking have been established to improve the service network and efficiency. In telephone banking service, over 90% phones were received within 20 seconds, far ahead of peers. ICBC was awarded with the 2012-2013 China Best Call Center in the selection of the 11th China Best Call Center and Manager.

To better benefit customers, ICBC pioneered in canceling full interest accrual in 2009 and charged interest only for unpaid overdraft that has become due, offering favorable repayment term and repayment amount and gaining wide reception from the market and customers.

In terms of safety, it ensured safe and convenient card use and sound business development via innovated risk management concept and all-round safety protection system. In 2013, the domestic fraud risk BP value of ICBC credit card was 0.091 basis point lower than that released by China UnionPay, and overseas fraud risk BP value was 13.09 basis points lower than China credit card fraud risk BP value released by VISA.

An executive with ICBC indicated that ICBC would continue to pursue safe, convenient and efficient credit card services. It would build excellent and secure credit card brand via upgraded channels, market and customer-oriented, innovated products as well as enhanced services, with a view to further promoting globalization of credit card business, enriching brand implication and providing quality services for customers.