At the time of the birth of Huabei, the theory of credit card destruction was very popular, and to this day, Huabei is still that Huabei, and the credit card equipped with mobile payment and digital kernel has evolved into a collection of Huabei and borrowing. Credit cards not only did not fall, but became stronger with preferential interest rates and generous benefits.
Written by | Wood tone
Produced by | Pay for Wikipedia
As far as the current situation of the domestic retail banking market is concerned, the retail business has become the mainstay of the income growth of various banks, and credit cards occupy a core position in retail. With the sudden outbreak of the epidemic, credit cards bore the brunt of it, and banks sniffed the incremental demand for consumption and cash installments while stabilizing asset quality, and then launched a new war in terms of customer acquisition and equity.
Not long ago, some credit card institutions quietly launched a "national easy installment" application portal, if the application is successful, users can simultaneously offline designated merchants for installment consumption and credit card applications. The biggest difference between it and the ordinary credit card business is that the user can obtain credit before the user gets the physical credit card to go to the outlet to sign the activation, and can complete the credit consumption in the designated cooperative merchants.
In addition, recently GF Credit Card has also launched a credit card with its own reserve fund, called "Daji Dali Card". The special feature of this credit card is that in addition to the credit card consumption limit, the card is issued with a reserve fund of up to 50,000 yuan, which can be borrowed at any time, and no fees are incurred without use.
This reserve fund supports 6 and 12 installments, and there are corresponding discounts on borrowing and repayment and interest. Compared with the cash installment products commonly used by users in the market, the cash installment attached to GF Credit Card is relatively competitive in meeting the needs of customers.
"The card is to enjoy the consumption limit and cash installment limit, the two limits are independent of each other, do not affect each other, from the customer's overall credit to credit, it puts the customer's cash installment demand in front, can open the card to provide customers with consumption demand, installment demand of the line and products, which is a small innovation of the credit card." Not only that, the card issuance process is approved in real time, and the form of virtual card media is more efficient and convenient. Customers can complete the virtual card activation in the discovery wonderful app on the spot, and bind Alipay and WeChat for online and offline consumption. In terms of rights and interests, the lifetime annual fee is also a product design from the user's point of view, which meets the needs of customers who are currently covered by mutual gold products. GF Credit Card related people said that in the case of almost no publicity, in less than two months, the number of cards issued far exceeded expectations, which is a relatively good result within GF Card and even in the entire credit card industry this year.
There is no doubt that in the minds of groups with early consumption and credit consumption needs, credit cards will be more attractive in addition to having the function of interest-free overdraft basic financial services, and the unique characteristics of rights and cash installments. Differentiated and diversified services have become the key to obtaining customers on credit cards, and to a certain extent, they have successfully counterattacked Internet financial products such as Huabei and Borrowing.
<h1 class="pgc-h-arrow-right" > bank customer acquisition is migrating to the Internet</h1>
The digitalization of financial services is a major trend in the transformation of banks, in the wave of information flow advertising and live e-commerce, the traditional growth model of banks dominated by distribution channels has gradually begun to fail, and customer acquisition marketing has been tilted towards digitalization and Internetization. The change in the way of entering the goods will inevitably impact the bank's offline marketing network.
The data disclosed by the Banking and Insurance Regulatory Commission shows that the total number of bank outlets closed this year has reached more than 1,700, which is significantly higher than in previous years. The revocation of bank branches naturally reduced the cost of manpower, and judging from the 2019 annual report data of the six major banks, the number of bank personnel decreased by more than 10,000 compared with the previous year.
The migration of banks' retail customer acquisition methods from offline to the Internet is the mainstream direction of the future, and the epidemic has accelerated this trend. Offline outlets have been pressed the pause button, the concept of national contactlessness has risen, from card application to portable mobile payment tied cards, users' demand for omni-channel credit card services has risen.
Whether it is based on the consideration of cost reduction and efficiency increase, or the innovation of new ways, banks combined with the consumption habits of young customers, accelerate the penetration of live streaming and online marketing to seek more incremental high-quality users. This is not only the standard for credit card players, but also many payment and consumer financial institutions have also joined the army of live streaming in the post-epidemic era.
In a live online promotion activity recently organized by Guangfa Bank, the lucrative Daji Dali Credit Card was combined with vivid and interesting explanations, which brought a gratifying card issuance volume to Guangfa Bank. Some Guangfa credit cardholders told "Payment Encyclopedia" that they can apply for cards online, and after completing the interview, they can also choose the virtual card to bind WeChat and Alipay to spend, which is convenient not to say, and can also enjoy a lifetime free annual fee, and a preferential package.
Banks increase the online marketing of credit cards, competing for the thickness of equity, in essence, to improve the experience of users with free annual fees, and the current user experience is precisely the focus of competition among major banks. Customer experience is an intangible asset of banks that can indirectly bring performance to banks, and looking at the world, banks with high customer net referrals far exceed their peers in terms of performance.
Banks need to create a good user experience in factors such as product homogenization and financial technology iteration, and test the reliability of bank product innovation capabilities and rights. Only by doing this can traditional banks compete better with Huabei, who have the advantage of being the first mover on the Internet.
<h1 class="pgc-h-arrow-right" > credit card equity investment far exceeds mutual fund products</h1>
Whether the credit card is good or not, whether the rights and interests are real, naturally the user has the final say. In thousands of credit cards, users will take an equity ruler to measure the thickness of each credit card, the reference standard of this ruler or similar products from other banks, may also come from Huabei, borrowing, online business loans and other star Internet products.
As far as Guangfa Bank's Daji Dali Card is concerned, its card version is designed with four versions: Zhao Cai Jin Bao, Classic Red, Shang Sign and Xiang Yun Version, the Privilege Card Card has Two Versions of Zhao Cai Jin Bao and Classic Red, and the Privilege Card Card has two Versions of Shang Sign and Xiang Yun Edition. Personalized card face to meet the aesthetic needs of different users, card media support virtual card and physical card, and virtual card to physical card experience.
In terms of rights and interests, the lifetime annual fee is a major feature. The Daji Dali Privilege Card is free of annual fees for life, while the Privilege Card can return the 188 yuan annual fee by brushing 6 times of 88 yuan after binding Alipay or WeChat. In addition, within 1 year of activation, the Premium Card can be swiped 2 times of 88 yuan per month for 12 consecutive months, and the cash red envelope can be received every month, and the maximum amount can be 188.88 yuan.
DajiDalika products also launched first mention gift and repayment gift benefits. Among them, the first gift is the first time that the cardholder successfully handles the cash installment of lexiang caizhijin within one year, when the withdrawal amount is greater than or equal to 1,000 yuan, it can obtain the 20 yuan commodity coupon of GF Mall, and at the same time obtain 50 yuan repayment coupon; the repayment gift is the first time that the cardholder handles the lexiang wealth and wisdom fund, the withdrawal amount is greater than or equal to 3,000 yuan and the repayment on time for six consecutive months, there is a chance to obtain the GF mall 50 yuan commodity coupon and 50 yuan repayment coupon. Commodity coupons can be redeemed directly in GF Mall, supporting 0 yuan purchase, while repayment coupons can be used to directly deduct unpaid bills.
At the same time, Daji Dalika gives serious illness insurance worth 100,000 yuan to old users. Cardholders who have successfully applied for two L&C Cash installments and held the card for one year, each withdrawal amount is greater than or equal to 3,000 yuan, that is, they can receive 100,000 yuan of critical illness insurance. Cardholders who receive critical illness insurance are automatically insured for one year if they develop malignant tumors.
For new users, the insurance benefits offered by Dajidalika are more distinctive than similar gold cards in the industry. Daji Dalika includes 500,000 yuan of transportation accident insurance, which can not only cover road traffic accidents by train, ship and car, but also include traffic accidents caused by driving or riding non-motorized vehicles.
The long interest-free period of Daji Dali card can bring sufficient capital turnover time to cardholders. The Dajidari card is valid for 5 years, with a maximum interest-free period of 50 days. In terms of points, ordinary consumption sends points, WeChat and Alipay consumption can also enjoy the same point treatment, and additional reward points can be obtained in the days and months of cardholder life.
Relying on the cooperative merchant resources of Guangfa Bank, GF day on Friday real-time gift of consumption coupons, enjoy Starbucks and other catering brands on Friday 50% off, 10% off to exchange supermarket shopping cards, iQiyi, Tencent Video APP members as low as 5.5%, bound meituan's first random discount of up to 68 yuan, etc.
The verification of card coupons and points rights is the last step in the real pocket of credit card rights, and Guangfa Bank provides users with one-stop online verification and exchange services through the Discover Wonderful App.
<h1 class="pgc-h-arrow-right" > a vane for credit card transformation</h1>
From the perspective of the development trajectory of the credit card market, China's credit card business has fluctuated through 35 years of waves, expanding from less than one million to nearly one billion, and now the credit card market has entered the stock market from around 2017.
The data shows that in 2017, the number of credit card issuances soared from 465 million in 2016 to 588 million, and the cumulative number of cards issued increased by more than 26% year-on-year, and the growth rate hit a record high. At the same time, the balance of credit card repayments also rose from less than one trillion yuan to 5.56 trillion yuan in 2017.
At the stock stage, the bank credit business is trying to overcome two difficulties, one is that the Internet financial products represented by Huabei and Borrowing are fully encroaching on the market, and the other is the impact of personalized and differentiated demand generated by the rejuvenation of the customer base. Compared with mutual gold products, the advantages of credit cards are low financing costs and rich rights, but the convenience and flexibility are relatively poor, and some credit card services are too single, only supporting card swiping and not supporting cash installments.
If you want to break through the siege of Internet financial products, banks need to increase the added value of credit cards to meet the diversified needs of cardholders. Guangfa Bank Daji Dalika not only supports mobile payment to issue points, but also supports consumption installments and cash installments, and in the case of relatively low interest, the advantages of DajiDali card are revealed.
According to a credit card survey by McKinsey, the younger the customer base, the more critical the bank, and the satisfaction is greatly reduced, because the use needs of young customers are more complex, and they are keen on customized services and the pursuit of surprising functions. Gain insight into users' consumption preferences and provide a clearly differentiated user experience, which has become an important starting point for banks to tap incremental users in the stock market.
The total retail sales of consumer goods in July totaled 3.22 trillion yuan, an increase of 0.85% month-on-month, and the year-on-year decline narrowed month by month. With the recovery of consumption, the credit card market is also heating up, and major banks have begun to fight a new war. In this post-epidemic era credit card war, we can see that banks such as Guangfa not only open their doors in marketing channels, but also make lifelong annual fees and red envelopes to users, so as to ask users to stop and apply for cards.
After all, in the current situation of mutual misery, whoever retains the user is the king.