ICBC Peony Credit Card is different from ordinary credit cards. It does not necessarily have all the basic functions of a credit card and is mainly issued for installment payments.

ICBC Peony Credit Card uses credit cards as a medium to allow cardholders to shop and consume in installments at designated merchants. This card cannot be used for cash withdrawals and transfers, and can only be used for consumption. Cardholders of ICBC Peony Yida Credit Card can automatically repay according to the installment period set by themselves through their salary payment account at ICBC.

ICBC Peony Credit Card has created a three-party win-win situation for banks, merchants and consumers. Why do you say this? The specific reasons are as follows:

First, the launch of Peony Yida Credit Card is consistent with the country’s macroeconomic policy of stimulating domestic demand and promoting consumption. The national "Twelfth Five-Year Plan" clearly proposes to transform the economic development model, adjust and optimize the economic structure, focus on increasing residents' consumption capacity, improving residents' consumption conditions, and cultivating new consumption hot spots.

Second, through Yidai Credit Card, more working-class people will enjoy consumption benefits. Because installment payment allows low-income people to enjoy things that should be very luxurious, such as buying a car, many years in advance.

Thirdly, ICBC Peony Credit Card also creates opportunities for accepting merchants to develop and expand the market.

In short, ICBC’s brand advantage and large customer base have been converted into merchants’ consumer groups through the ICBC Peony Credit Card platform, which will not only increase the merchant’s operating income, but also enhance the merchant’s influence and Reputation, achieve multiple things with one stone