Banks launch online point sales
China CITIC Bank said that in order to provide better card service, the credit card points rules of China CITIC Bank will add the following payment channels to accumulate points, including Douyin Pay, Duoduo Pay, Vipshop Pay,Suningpay.
The reporter combed and found that since this year, many banks have adjusted the rules of credit card points, and most of them have increased the point rights of online payment channels. For example, Ping An Bank issued an announcement on January 28 saying that it would increase and clarify the scope of transactions that can be accumulated points: it is clear that WeChat payment, Alipay payment,JingdongPoints can be accumulated for transactions conducted on platforms such as payment and Meituan Payment; Industrial Bank announced on July 26 that from September 1, 2022, customers will accumulate points for online transactions bound to Industrial Credit Cards through Douyin Payment; China Construction Bank announced on August 1 that from September 16, Dragon Card credit card cardholders will accumulate comprehensive points for swiping and consumption, and will no longer accumulate special points.
At the same time, many banks “fancy” launched online point marketing. For example, Xiamen Bank announced in May that for the first time, the credit card was bound to WeChat payment, and the Alipay public account was reminded to give 1,000 points; For products such as Leyou Gold and large installments, you can get 10,000 points if you meet certain rules and conditions; in July, Beijing Rural Commercial Bank credit card holders can pay 6 yuan + 6 points to redeem Ruixing during the eventcoffeeA 29 yuan exchange coupon; a few days ago, Wuhan Rural Commercial Bank credit card used Alipay to pay for life during the event to enjoy the event of instant discount.
According to Ren Liyong, Product Director of the Digital Marketing Division of Zhongguancun Kejin, the characteristics of the credit card points business are very consistent with digital marketing, and its essence is the refined operation based on user stratification. “As credit card points are more and more applied to mobile payment scenarios, it effectively promotes the high-frequency payment behavior of cardholders. Card issuers can build a 360° user portrait based on the label system based on the user’s credit card transaction records, which is helpful for Gaining insight into the spending power of consumers is an unprecedented improvement.”
Weakening the gold content of offline transaction points
Looking at the entire industry, a reporter from Securities Daily found that in the past two years, many bank credit card centers, including Ping An, Minsheng, Guangfa, Everbright, and Postal Savings, have adjusted their credit card points rules. While increasing online consumption points, banks are also gradually tightening the rights and interests of offline acquirers for transaction points.
Taking 2022 as a model only, the Bank of Beijing Credit Card Center stated that from March 24, 2022 (inclusive), the transactions accepted by 19 payment institutions will no longer accumulate points. Wechat Bank said that starting from July 1, 2022, the 19 acquiring merchant numbers will no longer accumulate points. Industrial Bank said that from July 20, 2022, the transactions accepted by the 6 new third-party payment institutions will not be accumulated points.
More individual banks are adding WeChat Pay, Alipay, Jingdong Pay, Meituan Pay, Suning Pay,MilletAt the same time as the accumulated points for online transactions of payment, Pinduoduo payment and Vipshop payment credit cards, the accumulated points of 52 designated merchant categories for credit card transactions will be cancelled at one time.
From the perspective of the industry, on the one hand, banks increase the rights and interests of points for online payment, and on the other hand, they tighten the rights and interests of points for transactions of offline acquirers, which is conducive to precisely combating the “wool party”.
“This move is intended to encourage cardholders to ‘earn points’ by swiping their cards online, rather than ‘gaining points’ for offline transactions.” Huang Dazhi, a researcher at Xingtu Financial Research Institute, told the Securities Daily reporter that many banks Adjusting the points rules means that the gold content of offline transaction points will continue to weaken, and the points of online transactions will be more “valuable”.
Ren Liyong said that reward points for emerging payment channels is an industry development trend, and the core reason is the migration of user payment scenarios. On the one hand, it can form a first-mover advantage for card issuers to seize consumers in new payment scenarios; on the other hand, it can continuously and effectively activate users, build a new digital marketing system for card issuers, and enable other business growth.