Industrial Bank Released the First Debit and Credit Integrated Card
Recently, Industrial Bank (IB) released the first debit and credit integrated card – an innovative financial product integrating the functions of debit card and credit card, exerting itself to create better wealth management and payment tools for customers. With the card, the effect of funds in customers' accounts can be maximized.
It is reported that the debit and credit integrated card of IB combines the wealth management functions of debit card and the overdraft consumption function of credit card, and has independent debit and credit accounts. On the one hand, a cardholder may use the credit card account for such payment operations as overdraft consumption, cash advancement, and installment, and on the other hand, he or she may also use the debit card account to handle such businesses as savings, fund, foreign exchange, and gold investment. Both wealth management and consumption can be handled with one card.
It's worth noting that the card can activate the automatic repayment linkage between the debit card account and the credit card account with simply operation. In this way, the money spent with the credit card account can be automatically repaid with funds deducted from the debit card account. This relieves cardholders from worries about default interest because they forget to make repayment. The card combines hidden and exposed magnetic stripes. On the front, the debit card account employs a hidden magnetic stripe manufactured with world advanced technology; on the back, an exposed magnetic stripe is provided for the credit card account. In this way, and the cardholder can swipe the card conveniently at merchants' shops with beautiful appearance. With such highlighting features as two magnetic stripes, two accounts and integration of all bank card functions, the card not only enables cardholders to use it in a convenient manner, but also represents the new development orientation of bank cards.
In addition to the innovative breakthrough in functions, the rich value-added rights and benefits of IB's debit and credit integrated card are also very appealing.It is reported that the credit card account of the card may enjoy the preferential exemption of commissions for the first transaction of cash withdrawal in each statement month. In addition, considering the business travel needs of cardholders, they can enjoy the aviation accident insurance with an insured amount up to RMB 2 million if they fully pay the flight ticket price or 80% or more of the group tour cost including the flight ticket price. Meanwhile, if any cardholder leases a car at any chain store of “TopOne Car Rental”, he or she may become a silver card member of the company to enjoy the corresponding courteous reception, and receive 50% discounted rent for the first day and an electronic coupon of “TopOne Car Rental” worth RMB 100. Besides, the cardholder can also enjoy the exemption of the annual fees for the first year if he or she has an automatic deduction for repayment within three statement months after activating the card and the total automatic deduction reaches RMB 100.
In recent years, IB Credit Card tailored to the needs of specific groups, making breakthroughs in product innovation one after another. In 2010, it released the first low-carbon credit card in China, initiating the personal purchase platform for carbon emission reduction with credit card. Targeting at the high-end business travel market, it released a range of products including standard platinum credit card, XING platinum credit card, China Eastern Airlines co-branded platinum credit card, and CSA co-branded credit card, etc., providing one-stop professional services, value-added returns and VIP service experiences for business travelers and winning extensive recognition of customers. In 2012, in collaboration with Guangzhou Mobile, the bank issued the first financial IC card meeting the PBOC2.0 standard of the People's Bank of China. While boasting a higher safety compared with the common magnetic card, the card has new function of electronic cash that can be regarded as “Quick Pass” for customers of small-amount payment, that is, the payment can be accomplished in as short as one second without verification of password. The “debit and credit integrated card” released this time is another innovation.
Up to now, IB has issued over 10 million credit cards. To run on the differentiated and characteristic development road is the direction that the bank's credit card business always follows.