Author: greendragon

Would China develop it's own credit card system? [Copy link] 中文

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Post time 2009-11-2 16:27:05 |Display all floors
Originally posted by Exergy at 2009-11-2 15:50



China has its own system, Union pay, which frankly is not as good as Visa or MC

Visa and MC are good all over china, in your home currency and RMB.  They are also good all over the rest of ...



you nonsense energy

UnionPay can be even used here la in my local $$$$$$$$$$$$$$$$

Most major banks accept it
What's on your mind now........ooooooooooooooo la la....Kind Regards

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Post time 2009-11-2 21:26:14 |Display all floors
One quarter of the human race should be racing to be ahead. If spending power of Chinese consumers expand, then merchants all over the world should welcome even more eagerly the arrival of China's own credit card.  

Maybe it should be a multiple purpose smart card.

If for consumers, so too for users.  Like, for example, computer users.  China should develop her own operating system for computers. From that, her own pc applications.

The domestic market itself is big enough. Potentially it is bigger than the other markets at present, combined.

While others had started small and slowly built their entries into new markets, China can do it big and quickly apply to her own market whose size is what the others have tried to achieve by combining all.

But anything attempted must be carefully nurtured and tested and watched out for fallouts.  Technology burn rates are very high. So too opportunity costs in sinking experts, capital and other resources into big projects of national importance.

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Post time 2009-11-2 21:32:29 |Display all floors

Hm... given the B.S. that has occured in North America and Europe...

... methinks that the powers to be in Beijing are going to be very, very, very cold to the idea of unsecured credit systems for another 10 to 20 years or so.

However  - if there is a way to siphon fees to the CCP... then we shall see.  Honestly, the average P.R. Chinese is no more ready for this than the average American or European.
China's Eccentric 'Uncle Laowai' from Chicago, IL

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Post time 2009-11-3 00:21:15 |Display all floors

what we DONT need is CREDIT...

economy like this...you better off with your cash in order to kno & track where your money is instead of troublesome at the end of the month for your monthly statements (in my case doesnt have to wait that long)  


*once you're okayed with your cash spendin then do your credit thingy thing, OK  

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Post time 2009-11-3 01:21:07 |Display all floors

Make sure it is smart

IF China goes down that path,  then make sure it is a smart card.
Let the dice fly high

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Post time 2009-11-3 01:27:33 |Display all floors

Hm... Smart Debit Cards you mean?

Originally posted by cestmoi at 11/2/2009 12:21 PM
IF China goes down that path,  then make sure it is a smart card.


That would probably be a more lucritive idea for the powers to be - a good deal of revenue in fees for setting up and maintaining a dedicated network for such transactions.
China's Eccentric 'Uncle Laowai' from Chicago, IL

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Post time 2009-11-3 01:32:00 |Display all floors

SMART or not is not the question...

we still have to pay back as we spend...it SMART if and only if it tells me not to purchase somethin that i already own or dont need it (impulsive buyer like me)  

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