“Middle age crisis” of difficult to obtain and retain credit cards

On April 28, the Beijing Banking and Insurance Regulatory Bureau approved the opening of the postal savings bank credit card center. So far, the six major state-owned banks have set up credit card centers. But the credit card market has bid farewell to the rapid growth and entered the stage of stock competition“ In 2020, the cumulative number of credit cards issued by many banks will slow down, and the number of new credit cards issued by banks will be cut off.

获客难留客难 信用卡的“中年危机”

User growth dividend disappears

“I think from last year or even the year before last, the credit card business of banks has not been expanded by scale.” In an interview with Beijing Business Daily on April 29, a number of bank credit card practitioners said frankly that at present, the credit card exhibition industry generally suffers from difficulties in customer acquisition and technology.

“2015-2018 is a very obvious expansion period of credit card scale. All banks issue cards fiercely, but there are also some hidden dangers.” A credit card personage of a joint-stock bank recalled that “since 2019, banks have been aware of this problem. In addition, the explosion of P2P accelerates the transmission of risks to credit cards. The number of people with joint-stock bonds increases and the supervision becomes stricter. All these factors, taken together, point to the contraction of scale expansion.

The scale of pressure drop has become a trend, accompanied by the retention problems of new customers and existing customers. In terms of customer expansion, banks are still “unable to put down” the two ways of setting up stalls and “sweeping buildings”.

“The old way won’t work.” A city commercial bank credit card personage told Beijing Business Daily that the difficulty of credit card exhibition industry now is that many customers have several cards, and the demand for credit card quota is getting smaller and smaller. Now many credit card rights are very “chicken ribs”, which can not touch the hearts of customers. At the same time, customers are already disgusted with stalls and “sweeping” sales, and no longer handle credit cards for gifts.

There are fewer and fewer people with “zero” credit cards, so it is urgent to carry out refined operation. During the interview, a person from the Credit Card Center estimated a set of data to the Beijing Business Daily reporter. From the perspective of population, although the average per capita credit card may be less than 1 by using the national population, in fact, the credit card customers are mainly concentrated in the first and second tier cities, mainly in the educational background, and then remove the old and the young, so the real card issuing crowd is very rare. Now the competition of setting up stalls and “sweeping buildings” is becoming more and more fierce, and this way is becoming more and more difficult.

If the old way doesn’t work, you have to walk on two legs. At present, most banks have set up “combination boxing” to expand the scene. A credit card personage of a joint-stock bank said that the concept of credit card marketing will be introduced in the recommendation. In the early stage, we will initially contact and communicate with customers to establish a kind of initial trust, and then “add meals” in addition to the existing “set meal” of the savings card. At the same time, we will implant the credit card marketing mode.

In addition, the online changes inspired by the concept of “no contact” also save a lot of time for the credit card exhibition industry. However, the above-mentioned joint-stock banks are also worried about whether the bank’s credit card can break through the pain point of online card processing“ From the technical level, big banks have relatively mature risk control technology to do the whole process of online card issuing, but according to the current regulatory requirements, they still need to achieve offline “three parents”. If this breakthrough can not be made, it is difficult to go deep into the scene to compete with internet financial products. “

Talking about the current difficulties in the credit card exhibition industry, Wang Pengbo, a senior financial analyst, said in an interview with Beijing Business Daily that the main reason is that there are too few practical application scenarios, and there are more credit card products related to the market, and the forms tend to be diversified.

The growth rate of card issuing volume of several banks declined

According to the annual report data, with the relative saturation of the credit card market getting higher and higher, the growth rate of the cumulative number of cards issued and the number of new cards issued is gradually declining.

In terms of the specific number of cards issued, ICBC still ranks first. By the end of 2020, the cumulative number of cards issued has reached 160 million, a slight increase compared with the end of 2019, with a year-on-year increase of 0.62%. However, in 2019, the cumulative number of cards issued by ICBC is 159 million, with a year-on-year increase of 5.29%.

By the end of 2020, the cumulative number of cards issued by CCB, Bank of China and Agricultural Bank of China were 144 million, 132 million and 130 million respectively, with an increase of 8.27%, 5.44% and 8.33% respectively compared with the end of 2019; However, compared with 2019, the growth rates of these three indicators were 9.91%, 12.92% and 16.5% respectively.

Joint stock banks and urban commercial banks mainly show a decline in the growth rate of new card issuance. From the perspective of banks that have disclosed the data of new card issuance, the new card issuance of Zheshang Bank, Minsheng Bank, Ping An Bank, industrial bank and Everbright Bank all show a decline. By the end of 2020, the number of new cards issued by the five joint-stock banks was 131100, 4215300, 10149700, 4695400 and 8377100, respectively, with a year-on-year decrease of 27.69%, 46.7%, 29.02%, 49.05% and 27.15% respectively.

Compared with joint-stock banks, the decline of urban commercial banks is greater. For example, by the end of 2020, the number of new cards issued by Jiangyin bank was 16000, a year-on-year decline of 60.98%. However, in 2019, the number of new cards issued by Jiangyin bank increased by 76.5%.

Beijing business daily learned from Jiangyin bank that the reason for the large decline in the number of newly issued cards was mainly due to the development of etc credit card business in 2019, so the increase was relatively high in 2019.

Talking about the changes in the cumulative number of credit cards issued and the number of new cards issued by A-share listed banks in 2020, Yu Baicheng, President of zero one research institute, said that at the product level, the emergence of Internet flagship lending products has formed competition with the bank’s credit card business and increased the difficulty of growth. At the macro-economic level, the slowdown of economic growth and the decline of consumer power and repayment ability have affected the development of credit card business.

“It is expected to maintain a steady decline in the future, but not too fast. The main reason is that at present, the scale of users has reached the ceiling, the new speed has naturally declined, and the frequency of use is relatively low. ” Wang Pengbo said.

Create a closed-loop scene

The difficulty of business development has made banks “headache”, and the rising non-performing rate has become a hidden worry for the development of bank credit card business.

Among the large state-owned banks, Bank of China did not disclose relevant data on non-performing rate. The non-performing rate of Agricultural Bank of China, industrial and Commercial Bank of China and Bank of communications decreased. By the end of 2020, the non-performing rate of credit card was 1.55%, 1.89% and 2.27% respectively, which decreased by 0.02%, 0.32% and 0.11% respectively compared with the end of 2019. By the end of 2020, the credit card non-performing rates of China Construction Bank and postal savings bank were 1.4% and 1.83% respectively, up 0.37 and 0.09 percentage points respectively over the previous year.

Among the joint-stock banks, the NPLs of Shanghai Pudong Development Bank, Minsheng Bank, China Merchants Bank, Ping An Bank, industrial bank and China CITIC Bank by the end of 2020 were 2.52%, 3.28%, 1.66%, 2.16%, 2.16% and 2.38% respectively, up 0.22, 0.8, 0.31, 0.50, 0.69 and 0.64 percentage points respectively from the end of 2019.

“In 2020, the credit card business will be further affected by the epidemic, with limited growth and rising bad debts. In particular, the latter, the bank will invest major energy in asset quality management Yu Baicheng explained that in recent years, at the customer group level, there has been a cross between the credit card crowd and the online lending crowd, and the quality of long loans and borrowers has declined, which has made it more difficult to manage the risk of credit cards and made it more overdue. In the context of more and more digital credit card substitutes, the high growth stage of credit card has passed.

The era of high growth is no longer. Under the pressure of strict supervision and industry risk, how can bank credit card business break down? Wang Pengbo pointed out that “we still need to cooperate more with the flow platform, including banks to create their own closed-loop scenarios.”.

A person from a joint-stock bank believes that in the future, banks should find scenarios where customers frequently use credit cards to pay, and then expand according to such scenarios, taking the use of credit cards as the most convenient and preferential way to use, and binding customers more from the payment scenarios.

Beijing Business Daily reporter Meng fanxia song Yitong

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