China Financial IC Card
Industry Chain Report, 2013-2016 of Sino Market Insight forecasts that by 2016
China will issue a total of 1.6 billion financial IC cards.
As of the first quarter
of 2013, China has issued a total of 192 million financial IC cards, including
a net increase of 66 million in Q1. The annual growth is expected to be 200
million. According to the requirements of the People’s Bank of China and China
UnionPay, in 2013 financial IC cards among new bank cards shall achieve a
penetration rate of about 30%.
The development of
financial IC card in China is primarily policy-driven. On March 15, 2011, the
People's Bank of China issued the PBOC's Opinions on Promoting the Application
of Financial IC Cards, which stimulated the transformation of national bank
equipment to support financial IC cards, and required the ATMs of national
commercial banks to accept financial IC cards by the end of 2012, and all networking
GPTs that accept bank cards to accept financial IC cards by the end of 2013.
Seen from the promotion
of financial IC cards, the People’s Bank of China required ICBC (Industrial and
Commercial Bank of China), ABC (Agricultural Bank of China), BOC (Bank of
China), CCB (China Construction Bank), BOCOM (Bank of Communications), CMBC
(China Merchants Bank) and POSB (Post Office Savings Bank) to issue financial
IC cards before the end of June 2011; national commercial banks must also issue
financial IC cards since January 1, 2013. By 2015, basically all banks should
have issued financial IC cards, and mostly can only issue financial IC cards.
This report mainly
includes eight chapters and 80 charts.
Get more details at: http://www.analyzefuture.com/china-financial-ic-card-market
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