Citibank and Shanghai Pudong Development Bank (SPDB) have launched a new credit card aimed at young consumers in China called "WOW".
The asymmetrically shaped cards, with a straight edge and a curved edge, are designed to appeal to young Chinese consumers through offering third-party offers and a points reward system. Cardholders will also have the option of paying in installments when a single purchase exceeds RMB500, regardless of merchandise and merchant.
Kuan Tseng, CEO of SPDB’s credit card center, said: Our business is performing strongly, and in partnership with Citibank, the world’s leading issuer of credit cards, we will continue to deliver value to Chinese consumers while helping to develop China’s credit card industry.
Anyone over 21-years-old, with an after-tax annual income of RMB24,000 or above is eligible to apply for an SPDB WOW card.