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Foreign supermarkets continue China credit card push

Foreign supermarkets continue China credit card push

(31 January 2007 – China) Another international supermarket group has teamed up with a Chinese bank to issue credit cards in China where credit card uptake is extremely low. Last year, Wal-Mart launched a co-branded credit card with mid tier Shenzhen Development Bank.

Now French privately owned supermarket group Auchan along with its subsidiary Banque Accord have inked a deal with Shenzhen Development Bank to launch a credit card in China.

Auchan will start distributing co-branded 'Red Bird' cards with an accompanying reward programme in place in 16 Chinese stores next week.
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