Municipal lender Bank of Beijing has teamed up with JD.com’s fintech vehicle JD Digits (formerly JD Finance) to issue a new credit card product.
The new “Bank of Beijing JD Plus Joint-name Credit Card” (北京银行京东PLUS联名信用卡) will focus on “satisfying the quality lifestyle consumption demands of elite clients” for both on-site and online purchasing.
Clients will be able to apply for the new credit card via Bank of China, the JD.com e-commerce app and the JD Finance app.
Bank of Beijing said that the launch of the new credit card is part of its “finance + e-commerce” strategy that includes the development of bespoke, brand-name financial products.
As of the end of the first quarter Bank of Beijing had total assets of 2.79 trillion yuan, while its first quarter net profits were 6.66 billion yuan, for a YoY rise of 5.38%.
UK magazine “The Banker” ranks Bank of Beijing 62nd amongst the world’s top 100 banks.