China Minsheng Bank (CMBC) and American Express jointly announced the launch of the CMBC American Express® Multi Currency Platinum Credit Card. Issued by CMBC, this product is the first-ever single network card product to be introduced on the American Express payment network in China and is designed for CMBC customers traveling abroad. This new product is the second product that has been launched by CMBC following the rollout of the CMBC Platinum Shangri-La American Express® Card in 2012.
China Minsheng Bank is the first national joint-stock commercial bank primarily held by non-public-owned enterprises, and CMBC’s credit cards are among the top, leading high-end credit card products available in China today. This collaboration combines the powerful brand appeal of both companies and provides CMBC’s customers with outstanding travel-related customer service, benefits and experiences.
The CMBC American Express Multi Currency Platinum Credit Card is available in two tiers, Elite Platinum and Platinum, and is designed to meet the needs of CMBC’s distinct customer segments. The Card offers its customers a waiver on fees for foreign currency transactions, as well as cash withdrawal from the American Express network. Cardholders can also have travel-related benefits such as lounge access and airport pick-up service at key cities in the United Kingdom and United States. In addition, the Card provides comprehensive travel and medical insurance and emergency support abroad.
Yang Ke, President, Credit Card Center, China Minsheng Bank said, “American Express is a well established global credit card and travel services specialist. With its comprehensive network of merchants and global travel service expertise, we believe this collaboration will bring a high-quality overseas card experience for students and business travelers alike travelling outside China.”
“China Minsheng Bank is well known for its expertise in the premium card space in China, and we have enjoyed a very good relationship since the launch of the CMBC Platinum Shangri-La American Express Card two years ago. We are delighted to partner with CMBC again to introduce the new CMBC American Express Multi Currency Platinum Credit Card and further grow the American Express brand in a key country like China,” added Dave Keung, Vice President and General Manager, Partner Card Services, China, American Express.
China Minsheng Bank is highly experienced in the research and development of high-end co-branded credit cards and has so far successfully developed several products in cooperation with famous enterprises home and abroad such Air China, China Eastern Airlines, Chang An Club, BMW, Pacific Department Store and Shangri-La Hotels group. Under the “market oriented and innovation centered” guideline, the Bank has successfully partnered with such reputed domestic and overseas brands as Starbucks, Pizza Hut, KFC and Yili Milk for cross-service marketing, and launched many large promotional activities featuring vast public coverage, large input of resources and extensive influence, creating an extremely high level of social attention and upgrading the brand awareness for both parties. Since the issuance of credit cards in 2005, the Bank has issued nearly 18 million credit cards, over 70% activated, and has become a leader in the banking service in terms of average transaction volume per card and other major operating indices.
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