The credit card business of commercial banks refers to the business that the cardholder pays the settlement money through the special installment POS equipment and network designated by the bank after the applicant is approved by the bank, and the corresponding transaction amount is divided into several installments on average, and the cardholder repays the money monthly within the agreed time limit and pays a certain handling fee. 1979 10 10 In October, Guangdong Branch of Bank of China signed an agreement with Hong Kong Branch of Bank of East Asia to handle East Asia credit card business, and began to handle this business. Since then, credit cards have appeared in China.

1980 65438+ 10 In October, Bank of China signed an agreement with Hong Kong Nanyang Commercial Bank to handle the "development card" business, and the development card entered China.

1980 In April, Bank of China signed an agreement with American Express Company to pay personal checks on behalf of American Express Card, and opened American Express Card to pay personal checks in China.

1981September, Bank of China and Bank of East Asia signed an agreement on behalf of VISA and Masted, and VISA and MasteCard entered China.