Technology partnership to boost China credit card sector

Chinese tech firm teams up with US provider of card management solutions to give banks the ability to provide real credit card services.

China currently has around 330 million bank cards in circulation, but only a very small number of real credit cards. Most cards in circulation are debit cards, although there is a high proportion of cards that require a deposit and have a limited overdraft capability.

With a five-year window to build real credit card franchises before international banks are allowed to do so in China, the country's banks are anxious to get started.

This, says Sam Flemming a consultant at...

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