OREANDA-NEWS. December 23, 2014. ICBC has issued 5.035 million business cards as of the end of October 2014. In the first 10 months this year, the Bank has issued 1.329 million business cards, showing a rapid and sound development momentum.

According to an executive with ICBC, business card is easy to carry and highly transparent. As a modern payment settlement tool, the business card could maximally reduce management cost of corporate cash settlement and reimbursement and has become popular in enterprises and public institutions. In addition, ICBC has offered a free support system for all business card users to meet the day-to-day management requirement of those enterprises and public institutions. The system facilitates institutions to perform pre-event hierarchical authorization, limit control and direct lock of risk exposure against card holders.

In case of any abnormal swiping, the system will capture and intervene in a real-time manner to protect the card. In terms of reimbursement, the place, amount and time of consumption can be kept during the consumption of card holders such as conference expense, business trip expense, transportation expense, reception fee and out-of-pocket procurement fee, which eliminates fake invoices. Fiscal budget institutions can log onto business card system to obtain data and make reimbursement through Internet banking or financial POS after successful articulation. Enterprises can get the data by connecting ERP system with bank system, perform inquiry and check, complete the reimbursement through Internet banking or batch crediting, thereby enhancing the financial management efficiency.

ICBC offers preferential annual fee, loss reporting fee and card replacement fee for business cards and value-added services such as travel inconvenience insurance and transportation accident insurance. Moreover, ICBC provides an exclusive privilege allowing the card holder not to pay full penalty interest for overdue credit card overdrafts.