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ICBC Launches B-to-C On-Line Payment Business
The Industrial and Commercial Bank of China (ICBC) Thursday signed agreements with eight internet service providers to jointly launch Business-to-Commerce on-line shopping with Peony credit card.
The new business, to be first launched in Beijing and Zhejiang, will enable Peony credit card holders to do on-line shopping.
A spokesman for the ICBC said launching of the new business marks the ICBC's access into the field of individual on-line banking business, including corporate financing, individual financing as well as B-to-B and B-to-C on-line payment.
He said the ICBC will soon open B-to-C on-line payment with smart card, in an effort to provide its clients with comprehensive, high-level and innovative financial services.
As China's largest State-owned commercial bank, the ICBC has issued over 65.34 million Peony credit cards, with total trading volume exceeding 400 billion yuan in the first half of this year.
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