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CMB partners with Mobike to woo the youth

CHINA Merchants Bank yesterday issued a credit card together with shared bike provider Mobike as part of the bank's efforts to merge into life of young consumers.

Under the cooperation, applicants of the card will be offered a cycling kit and will be able to convert calories consumed through cycling with Mobike into credit card points.

Cyclers will be able to unlock Mobikes with CMB's mobile application, and the duet will also offer discounts for bike users between 9PM to 6AM.

Wang Yu, assistant general manager at credit card center of CMB, said the team-up marked an attempt for CMB to cover every aspects of life of the young people.

Previously, the bank has teamed up with instant messaging software QQ, online travel agency Ctrip, video game League of Legends, and online music portal music.163, and e-commerce platform to appeal young consumers.

The cooperation with Mobike supplement CMB's coverage in transportation as the bank has offered car mortgage for millions of clients and issued a credit card with ride-hailing application Didi last year.

CMB data showed that young people between 18 to 30 years old amount to 70 percent of the bank's total 40 million credit card users.

The proportion is expected to grow as 80 percent of new credit card holders the bank acquired each year are below 30 years old.


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