Et-china.com to launch credit card with China's largest non-state owned bank |
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Published
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Tue, 16 Oct 2007 07:58
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LONDON (Thomson Financial) - Et-china.com International Holdings Ltd said it has signed a marketing alliance with China's largest non-state owned commercial bank, China Minsheng Banking Corp (CMBC), to launch a co-branded nationwide credit card for individuals and corporate clients.The travel services group said CMBC will offer corporate credit card customers extended settlement terms for business travellers, thereby reducing Et-china's working capital requirements in managing its corporate customers.Et-china.com and CMBC are currently finalising the promotion terms for the cards, which are expected to be formally launched later this month.CMBC currently has 2.7 mln credit card users. 'We believe that CMBC is looking to more than double its card customers to over 8 mln by next year,' Et-china.com's president and chief executive Matthew Ng said.TFN.newsdesk@thomson.comkal/slmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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