US consumer credit rose more than expected in September, but credit card usage fell for a fourth straight month, which could help shed some light on the slowdown in consumer spending growth during the third quarter.Friday, 8 November, 2013, 12:42pm
Ken Chew of DBS Bank's consumer division in Hong Kong said the interest margin - a measure of profitability - on its credit card business declined in the first quarter compared with the same period last year.6 Jun 2013 - 4:15am
Credit card and mortgage services are already the two main areas these rival banks compete in, but industry watchers warn that profits will not come easily. Retail banking faces high costs for every effort from branch expansion to marketing and advertising in Hong Kong, one of the world's most expensive cities.11 Jun 2013 - 12:40pm
Cyprus reopens its banks on Thursday while limiting withdrawals, banning cheques and curbing the use of Cypriot credit cards abroad, among measures imposed to avert a bank run after it agreed a tough rescue deal with international lenders.28 Mar 2013 - 8:02am
In a rare interview with overseas media, Xu Luode, the president and chief executive of the mainland's bank card association, told the South China Morning Post that UnionPay would strive to improve its global market share by attracting members to its international business arm with a profit-sharing scheme.11 Mar 2013 - 4:48am
Credit cards do more than offer credit. They radiate aspiration - the top ones come with names like Ultima, Platinum and Infinite - and they come with perks.4 Mar 2013 - 5:02am
Consumer finance firm Aeon Credit Service (Asia) posted a 12 per cent year-on-year rise in net profit for the nine months to November 20, thanks to higher income from insurance sales, lower loan losses and gain on investments disposal.22 Dec 2012 - 2:36am
Among the designer brands from Prada to Chanel at the Harrods flagship store in London, Li Yafang spotted a logo she knows from back home: the red, blue and green of UnionPay cards.13 Dec 2012 - 3:34am
Among the designer brands from Prada to Chanel at the Harrods flagship store in London, Chinese housewife Li Yafang spotted a logo she knows from back home: the red, blue and green of UnionPay cards.12 Dec 2012 - 12:54pm 2 comments
Beijing's efforts to boost domestic consumption may weigh on banks' profits as a reduction in credit-card transaction fees will eat into their fee income.
The State Council had approved a plan to reduce transaction charges on credit-card payments, Xinhua reported on Tuesday, citing a notice issued by the People's Bank of China.
The PBOC spokesman was not available for comment.29 Nov 2012 - 3:53am
If you have a credit card you might want to pay some attention to this story. It's something of a saga, but bear with me because the bottom line is rather scary.
Recently, I realised that two insurance policies purchased via a promotion run by American Express, with payment linked to its cards, were more expensive than comparable products.22 Oct 2012 - 1:54am
Citibank's entry to the Chinese credit card market marks the start of a coming explosion in card ownership, which will end in a wave of massive defaults around 2020.20 Sep 2012 - 10:14am
The World Trade Organisation's (WTO) ruling on the mainland's electronic-payment market is curiously being portrayed as a 'win' by both the warring parties: China and the United States.23 Jul 2012 - 12:00am
The number of complaints about wedding photography services increased by nearly 50 per cent last year, prompting the consumer watchdog to warn couples to watch out for scams.17 Apr 2012 - 12:00am
Alipay, the biggest online payments services provider in China, is ratcheting up its expansion under a landmark alliance with the mainland unit of Standard Chartered Bank.16 Feb 2012 - 12:00am