[IMGCAP(1)]

China Merchants Bank says it has deployed 5,000 self-service terminals in China that credit cardholders can use to pay their card bills. The bank began the service in November in Beijing and Shanghai, a spokesperson for the financial institution tells CardLine Global. "The service is currently available in over 10 cities, including Nanjing, Chengdu, Shenyang and Qingdao," the spokesperson says. The bank offers the service free to cardholders. The bank declines to release more statistics about the service. Shenzhen Pingan Bank, Shanghai Pudong Development Bank and Shengzhen Development Bank also provide similar services to their credit cardholders. "Multiple-channel card repayments is a growing trend in China's credit card market," Fei Cao, an analyst with Beijing-based research company Analysys International, tells CardLine Global. "Self-service terminal repayment service is a more-convenient repayment channel, and it also can also solve the lack of outlets for cardholders from medium-sized banks."

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry