This is the first instance of Tencent co-branding a card with an international payments network.
The collaboration combines Visa’s global electronic payments network with the WeChat platform to provide Chinese consumers with a new option for making international purchases when travelling abroad and shopping online.
As ecommerce platforms and merchants continue to thrive around the world, there is a growing demand among Chinese consumers to be able to pay for goods from global sellers in a streamlined manner.
The CGB-Tencent Visa card will offer cardholders a range of services, including:
digital application process via WeChat; after applying online, cardholders will receive a physical Visa card;
using the WeChat platform to manage their account, including their repayments;
a suite of benefits tailored for Chinese cardholders shopping overseas, both online and in-person, such as discounts at cross-border ecommerce merchants, international roaming, hotel stays and cash back.
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