There are three installment methods for China Merchants Bank’s credit cards: First, shopping mall installment, which means you can pay the installment directly to a merchant that has an installment agreement with China Merchants Bank through your credit card and ID card. After success, the first installment will appear. The installment payment plus the handling fee corresponding to the number of installments, and then just repay the single installment every month. The second is to go to the credit card mall on the official website of China Merchants Bank to directly purchase things for online installment. Then there will be no additional handling fees and shipping fees in addition to the single installment. Finally, if you go to a merchant that does not support installment payment and only supports credit card consumption, and you want to apply for installment payment after a one-time credit card transaction, you need to use the "Bill Installment" function of China Merchants Bank Credit Card.
Installation Notes: 1. After the cardholder successfully handles the bill installment, the installment amount will be included in the bill starting from the latest installment after the installment, and the handling fee of each installment will be recorded at the same time as the installment amount, and Included in the minimum payment. 2. If the cardholder wants to pay off the outstanding installments in advance for the bill installment business that has been successfully processed, he must call the customer service hotline of the bank's credit card center to apply. After the application is approved, he must pay off the outstanding installments and the remaining unpaid installments in one go. The installment handling fee collected will not be refunded.
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On December 3, 2002, China Merchants Bank officially issued the first domestic international standard dual-currency credit card, ushering in a new era of credit card consumption for Chinese people [20] . After more than ten years of struggle and growth, China Merchants Bank Credit Card has formed three major visions: "to be China's best payment experience provider, to be China's best consumer finance expert, and to be China's leading diversified marketing platform". At the same time, it has also Won many honors. [22]
Adhering to China Merchants Bank’s business philosophy of “changing because of you”, China Merchants Bank Credit Card has continuously refreshed cardholders’ card experience through product innovation and service upgrades, becoming a leading brand in the credit card industry. [23]
In recent years, China Merchants Bank Credit Card has actively pursued digital transformation, forged ahead with determination, pioneered the construction of the financial Internet, and created a technological legend in the domestic credit card industry. [24]
Editorial report on the development process
From 2002 to 2020, the development process of China Merchants Bank’s credit cards can be summarized into three stages, namely “starting a business”, “creating a business” Leading” and “strategic transformation”.
The first stage: starting a business from 2002 to 2005
On December 3, 2002, China Merchants Bank launched the country’s first “one card, dual currency” credit card that complies with international standards. [25]
In June 2004, China Merchants Bank took the lead among its peers in credit card issuance to exceed one million. [21]
Second stage: Creating leadership from 2006 to 2008
Faced with increasingly fierce market competition, China Merchants Bank credit cards accelerated scale expansion and continuously refreshed the domestic dual currency card market. Card issuance record. In April 2006, China Merchants Bank's credit card took the lead in entering the 5 million echelon of credit cards issued. [26]
In December of the same year, the number of cards issued reached 10 million [28] , which marked a new chapter in the development of China's credit card market [27] . The leap-forward development of China Merchants Bank's credit cards has attracted the attention of the industry at home and abroad, and it has been included in the MBA case library of Harvard Business School in the United States. [29]
The third stage: strategic transformation from 2009 to 2012
In 2009, China Merchants Bank Credit Card officially started its transformation, shifting from the pursuit of scale to the pursuit of efficiency, quality and scale balanced development. [30]
In 2010, China Merchants Bank Credit Card Center was keenly aware of the development opportunities brought by mobile Internet, and began to use new technological means to build a low-cost, high-efficiency operating model - "Handheld Life" App1. The launch of version 0 research and development marks that our bank has officially entered the era of mobile Internet.
[31]
Accelerate the pace of transformation
In 2013, in line with the concept of "where the user is, the service is there" [33], China Merchants Bank Credit Card pioneered intelligent "micro-customer service" [32] , credit card customer service shifts from traditional telephone channels to new Internet channels.
In 2016, the annual cumulative transaction amount exceeded 2.2 trillion for the first time, setting a record high. It not only led the industry, but also verified that "China Merchants Bank credit card is the choice of more people." [34]
In 2017, the "Handheld Life" App was upgraded to version 6.0, with the number of bound users exceeding 40 million, making it the No. 1 consumer finance App. [35]
Life is more than expectations, the excitement continues. As of 2020, China Merchants Bank's credit cards continue to maintain a good development momentum, with both the number of cards in circulation and the number of accounts in circulation increasing; the annual cumulative transaction volume has reached 4.34 trillion yuan[36], and the cumulative number of users of the Mobile Life App has exceeded 110 million. With more than 46.03 million monthly active users[37], it further consolidates its leading position as a credit card app and rivals first-tier Internet platforms. [39] CMB Credit Card will continue to actively carry out financial technology exploration and practice to further enhance user experience. [38]
Corporate Honor Editor’s Report
Ranked first in China’s Customer Recommendation Index for five consecutive years
Since 2017, China Merchants Bank Credit Card has won the honorary title for five consecutive years Ranked first in C-NPS Chinese customer recommendation index. [40] This index is released by the brand rating authority Chnbrand and is China's first customer recommendation evaluation system [41] . CMB Credit Card has ranked first in the index for five consecutive years [40] , which shows the support and recognition of the majority of users for CMB’s credit card products, services, and brands. [42]
The Hurun Report’s most popular domestic bank credit card among multi-millionaires for 17 consecutive years
In January 2021, Hurun Research Institute released the latest "China's Multi-millionaire Credit Card" "Report on Regal Brand Trends", in the credit card category, China Merchants Bank Credit Card has been awarded Hurun Report's "Most Favored Domestic Credit Card by Multimillionaires" for 17 consecutive years by virtue of its product strength and brand influence in the high-end customer market. CMB continues to pay attention to the deep-seated needs of high-end cardholders and organically integrates them with product design, so that the high-end credit card series always maintains strong vitality and strong competitiveness. [43]
Ranked first in China’s Customer Satisfaction Index for 4 consecutive years
In July 2020, the brand rating authority Chnbrand released the 2020 China Customer Satisfaction Index (C-CSI) ) Brand Ranking and Analysis Report. China Merchants Bank Credit Card has been selected as the most satisfied credit card brand among C-CSI customers for the fourth consecutive year by exploring new ways of communicating with users and continuously improving user experience and lifestyle. [44]
Won the first place in the China Brand Power Index credit card industry for 10 times
In April 2021, the brand rating authority Chnbrand announced the 2021 (11th) China Brand Power Index (C-BPI) brand ranking, CMB Credit Card once again ranked first in the credit card category. This is also the 10th time that CMB Credit Card has ranked first in brand power in China's credit card industry. [45]
The first five-star customer service center in China [46]
In January 2005, China Merchants Bank Credit Card Center officially passed the "National Call Center Operation Performance Standard" certification. Became the first five-star customer service center in China. In 2007, the Credit Card Center of China Merchants Bank Co., Ltd. was among the first to receive the CCCS Customer Contact Center Standard Five-Star Diamond Certification. In 2014, the Credit Card Center of China Merchants Bank Co., Ltd. successfully passed the "Enterprise Star Service Certification" (ESSC) five-star standard and became China's first five-star service enterprise.
The Credit Card Center of China Merchants Bank Co., Ltd. has repeatedly been recognized and favored by the society and customers, and has won the "Global Best Call Center Award", "China's Best Customer Service Center", and "China's Best Call Center" from major authoritative organizations. ", "China Call Center Ten Years of Brilliant Achievement Award", "Best Customer Service Center" and many other awards. [46]
The Mobile Life App won the "Best Ecosystem Project" by "The Asian Banker"
In August 2020, the China Merchants Bank Credit Card Mobile Life App won the "Best Ecosystem Project" by "The Asian Banker" Ecosystem Project", this is the second consecutive year that Palm Life App has won this award, which fully reflects that Palm Life App has begun to build its own differentiated competitiveness in terms of creating an ecosystem, building connections, and technology engines. Integrate high-quality life scenes into users' lives through App, payment and financial services, thereby realizing the realization of financial services. [47]
Free Life Platinum Credit Card won the "Best Credit Card Product" by "The Asian Banker"
In 2020, CMB Free Life Platinum Credit Card won the "Best Credit Card Product" by "The Asian Banker" ". CMB Free Life Platinum Credit Card is the first platinum credit card product in the industry that is truly tailored for young high-spending groups. Through innovative product design, it achieves the organic integration of "high-end" and "youth", "consumer finance" and "lifestyle" Combined to meet the dual needs of young people for "spiritual freedom" and "material abundance". [47]