Baidu,China Merchant Bank to issue co-branded credit card

Chinese search engine Baidu and China Merchant Bank will issue co-branded credit card. The card has all functions of a conventional credit card, and serves as a membership card for individual paid users of Baidu. It supports offline shopping and online transactions.

Baidu and China Merchant Bank have entered into a strategic alliance agreement according to which they will carry out a series of long-term and in-depth cooperation. Not long ago, Baidu announced cooperation with Industrial and Commercial Bank of China.

Payment platform has become Baidu's weak point in its frequent cooperation with banks and online payment enterprises in recent years. The issuance of the co-branded credit card reflects Baidu's urgent need for payment platform.

By People's Daily Online