Chinese Banks Should Expand Their Credit Card Offerings

In China only prime consumers have credit cards with just 21% of the population carrying one; the delinquency rate on these credit cards is just 1%; consumer credit is more readily available from online lenders where rates are often much higher than they are for credit cards; the credit scoring system in China is getting better and with the ability to package credit card receivables into asset backed securities there is demand on the capital markets side; but banks in China are notoriously risk averse and have yet to expand their credit card offerings. Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!

[class^="wpforms-"]
[class^="wpforms-"]