Global Banking Directory 2.0
Press Release Distribution Service
Add Bank | Banking Forum Online
BankDEP Crypto Bank
BanksDaily on Twitter BanksDaily on LinkedIn BanksDaily on Instagram

Financial and Banking News

China has more than 1.3 billion bank cards

Chinese banks had issued more than 1.3 billion debit, credit and semi-credit cards by the end of September, roughly one for every person in China, according to China UnionPay.

Bank card consumption as a percentage of China's total retail sales exceeded 18% in the first nine months as more Chinese opt for cards over cash, China UnionPay president Xu Luode told a forum on local finance.

China had 183 banks issuing cards that could be used at 1.08 million points of sale of 650,000 specially endorsed outlets and 120,000 automatic teller machines.

But the bank card market is dominated by large national banks as regional financial institutions controlled just nine percent of the market with 190 million bank cards issued over the first half of this year.

A survey released by the Nielsen Company on Saturday showed the use of bank cards was spreading quickly and reshaping the shopping habits of the Chinese although cash remained the main form of payment.

The report, based on 11,500 Chinese consumers in 18 cities, including Shanghai, Beijing, Guangzhou, Chengdu, Shenzhen and Shenyang, revealed that urban card holders were gradually adopting Western consumption habits of using cards not only for shopping, but also cash withdrawals and even installment payments.

China UnionPay, the country's only bank card network operator, planned to complete its national payment network next year by setting up branches in northwestern Xinjiang Uygur and Ningxia Hui autonomous regions as well as Gansu and Qinghai provinces that are less developed compared with the eastern coastal areas.

Source: Banks Daily
Date: 09.11.2007 [138]
Get your content published on BanksDAILY.com in just a few clicks.

Financial and Banking News
 Post-Pandemic Economic Recovery: Key Factors Driving Growth and Stability

The COVID-19 pandemic caused a global economic halt, resulting in disruption, job losses, and uncertainty. However, as vaccination efforts progress and countries adjust to the new normal, there is hope for an economic recovery.

 Wiki Finance Expo Sydney 2023 Is Coming Soon!

Regulation, Forex, Crypto, Web 3.0, Metaverse, AI, ESG Will Be in Focus. Taking place on November 16th, Wiki Finance Expo, Sydney 2023 is Aussie largest and most anticipated fintech event of the year. 30.10.2023 | Source: WikiExpo

 Blockchain Economy Dubai Summit 2023: Just Two Weeks Away and Buzzing with Anticipation

Dubai, UAE - The Blockchain Economy Dubai Summit is generating palpable excitement within the blockchain and crypto communities, with only two weeks remaining until the event. Scheduled for October 4-5, 2023, at the Le Meridien Dubai Hotel & Conference Center, this prestigious event gathers over 3,000 blockchain entrepreneurs, crypto enthusiasts, and industry leaders from 85 countries. 20.09.2023 | Source: Teklip

 📰 News Archive

2007-2024 © BanksDAILY.com | All Banks in One Place | Privacy Policy