HSBC to roll out own credit cards in Chinese mainland
By Bloomberg | China Daily | Updated: 2016-07-08 07:52
HSBC Holdings Plc is aiming to roll out its own credit cards in the Chinese mainland by the end of the year, as the United Kingdom-based lender tries to tap into rising online and mobile spending in the world's second-biggest economy.
The bank will initially target customers in the Pearl River Delta, the manufacturing hub located just north of Hong Kong, with the HSBC-branded cards, according to Kevin Martin, the firm's Asia-Pacific head of retail banking and wealth management.
The bank, which already has co-branded cards in China through a partnership with Bank of Communications Co, received regulatory approval earlier this year for its own mainland offerings.
Photo