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Video: Credit Cards & Loyalty Programs, China vs. North America

Have you ever wondered about the differences in the credit card and loyalty landscape between China and North America?

In Canada and the United States, we have things pretty good in the credit card game. Signup bonuses are juicy and plentiful, rewards stack up very quickly, and our credit card benefits are among the best in the world – all thanks to the high interchange fees that our credit card companies can collect on every transaction.

In China though, like in much of the rest of the world, credit card interchange fees aren’t quite as high. Combined with the convenience and ubiquity of mobile payment apps linked to your bank account, and credit cards simply aren’t nearly as popular.

And yet, loyalty programs still play a huge role in the average consumers’ lives – arguably an even greater role than back in North America given the sheer degree of integration among all the programs out there.

Without further ado, you can watch the video below:

 

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Ricky Zhang

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