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 Shanghai Huateng Software Systems, is why his company has partnered with PaySys, the world's leading provider of card management solutions, as preferred distributor of its VisionPLUS services for all mainland China customers Huateng will also...

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