“AMEX Mainland Bankcard Clearing License Follow-Up”: Multiple Mainland Chinese Banks Launch AMEX RMB Single-Network Credit Cards

If you may recall, I previously posted two news flashes:

• Official announcement! AMEX formally obtained the “Bank Card Clearing Business License” in mainland China
• AMEX’s first batch of partner banks, mobile wallet operators, and third-party acquiring institutions in mainland China

Now that AMEX has obtained the license for RMB single-network cards, issuing credit cards was only a matter of time. And now they’re really here. Yesterday, multiple mainland Chinese banks launched AMEX RMB single-network credit cards. For details, please refer to:

• China Minsheng Bank (Yaohong Card)
• Ping An Bank (Yaohong Card)
• China Guangfa Bank (Yaohong Card & Lifestyle+ Card)
• Shanghai Pudong Development Bank (Yaohong Card)There’s nothing especially remarkable about this card. If there is one notable point, it’s that this is an AMEX RMB single-network credit card—a symbolic first launch, so to speak. At the moment, there are still no domestic offline POS terminals that support swiping this card.

China Guangfa Bank also launched a Lifestyle+ credit card