Three smooth operations, three signature services, CMB accelerates payment experience optimization

　　On April 1, the Shenzhen “International Payment Season” launch event was successfully held in Shenzhen. Representatives from the People's Bank of China, the State Administration of Foreign Exchange, relevant departments of the Shenzhen Municipal Government, major commercial banks, acquirers, bank card clearing agencies, and representatives from important business districts participated in the event.

　　In fact, this is just one of a series of measures taken by the Chinese government to optimize the payment experience. In early March this year, the General Office of the State Council issued the "Opinions on Further Optimizing Payment Services and Improving Payment Convenience" (referred to as the "Opinions"), emphasizing the need to focus on specific groups including the elderly and foreigners in China, and increase the necessary Resources have been invested and multiple measures have been taken to clear up the payment service congestion; on March 14, the People's Bank of China issued the "Payment Guide for Foreigners in China" to show foreign friends the payment service process and matters that should be paid attention to in plain language; subsequently , major banking institutions have introduced corresponding payment facilitation measures. Behind this series of actions is the emergence of payment pain points in certain areas.

　　In recent years, with the rapid development of mobile payment systems in China, the share of traditional payment methods such as bank cards and cash in the payment market has gradually shrunk. This change has had a certain impact on specific consumption environments and groups of people. For example, the elderly who are accustomed to using cash may have trouble paying, and foreigners may also feel inconvenient after coming to China because they are not familiar with domestic payment methods. In this context, optimizing payment services has undoubtedly become a timely move. Industry insiders widely believe that this will make the domestic payment ecosystem more inclusive and open, better adapt to the needs of various consumers, and thus effectively support the country's open economic development strategy.

　　Wang Liang, President of China Merchants Bank, said at the "International Payment Season" launch event in Shenzhen, "China Merchants Bank will thoroughly implement the decisions and arrangements of the Party Central Committee and the State Council, and give full play to multi-channel collaboration and 'people + digitalization' under the guidance of the People's Bank of China" Service advantages, with the 'Three Smooth Actions' and 'Three Signature Services', help Shenzhen build an international consumption center and a global payment demonstration zone, and accelerate the optimization of the payment experience for the elderly and foreigners coming to China."

Built in the Bay Area, serving the Bay Area

　　Since the resumption of customs clearance between Shenzhen and Hong Kong, Hong Kong people’s enthusiasm for “going north for consumption” has continued to rise. According to data from the Shenzhen Border Inspection Station, on March 29, the first day of the Easter holiday, there were 882,000 inbound passengers, setting a record since customs clearance was resumed. At the same time, the Hong Kong Immigration Department issued a statement stating that from March 28 to April 7, an estimated 11 million people will enter and leave Hong Kong. The enhancement of Shenzhen’s consumer appeal is closely related to the improvement of payment convenience. China Merchants Bank, which was born in Shenzhen, is one of the pioneers in exploring new cross-border payment models that facilitate Hong Kong residents traveling north for consumption.

　　Wang Liang’s aforementioned “three major smooth operations” are typical measures. It is reported that these "three smooth channels" refer to smooth mobile payment channels, smooth account service channels and smooth cash exchange channels. The first

. Currently, all types of credit cards issued by China Merchants Wing Lung Bank have implemented "external card binding" and support mobile payment.

CMB Wing Lung Bank provides Hong Kong residents with agency witness services for opening Category 2 and 3 CMB accounts, making it easier for them to bind to major mobile payment apps like mainland residents and enjoy the convenience of multi-platform mobile payment.

CMB outlets are located around Shenzhen’s 7 ports, 9 major business districts and 29 foreign-related hotels to provide cash exchange and “coin wallet” services, making it convenient for customers to “exchange money as soon as they come in and use it whenever they want.” "Get" and help surrounding merchants solve the change problem. "China Merchants Bank hopes to provide Hong Kong residents with diversified and seamless payment services through close collaboration with its Hong Kong subsidiary, China Merchants Wing Lung Bank, thereby facilitating connectivity in the Greater Bay Area." said the person in charge of China Merchants Bank's payment business.

　　In addition to providing payment services to Bay Area residents, we must also provide a good payment experience to welcome guests from all over the world. As an emerging international city, Shenzhen has been ranked as the mainland city with the largest total export volume for 31 consecutive years. It has trade relations with more than 200 countries and regions around the world. Shenzhen Airport has 31 international and regional passenger navigation cities. Shenzhen Port has international 248 routes. In the first quarter of 2024, more than 550,000 foreigners entered the country through Shenzhen ports, a year-on-year increase of 266%. Against this background, China Merchants Bank also launched a series of targeted measures during the Shenzhen "International Payment Season" in accordance with the guiding principle of "swiping cards for large amounts, scanning QR codes for small amounts, and paying in cash." Currently, China Merchants Bank has deployed 234 ATMs throughout Shenzhen, which already support cash withdrawals with foreign cards. Its 92 outlets in Shenzhen can provide foreign currency exchange and "coin purse" services in five sizes. At the same time, China Merchants Bank has comprehensively promoted the service mechanism of increasing resource investment, strengthening the application of technology, and deepening the integration of halls, and has always maintained the average waiting time at its branches at about 5 minutes despite the nearly 7-fold increase in customer traffic in Hong Kong. In addition, China Merchants Bank has also teamed up with China UnionPay to launch the “Promotion, Fun in Shenzhen” discount campaign for UnionPay cardholders of overseas branches of CMB and CMB Wing Lung Bank, which not only provides a convenient payment experience for overseas visitors to Shenzhen, but also enhances their The sense of gain in the consumption process.

Based in the Bay Area, radiating across the country

　　The above services are not limited to the Guangdong-Hong Kong-Macao Greater Bay Area. "China Merchants Bank is actively building its signature cash service base. Currently, all comprehensive outlets across the country provide foreign currency exchange and 'coin wallet' services, and all ATMs support foreign card cash withdrawals," said Wang Liang.

　　As a national joint-stock commercial bank specializing in retail, China Merchants Bank has long attached great importance to its payment business. In recent years, China Merchants Bank has further leveraged its multi-channel collaboration and "people + digital" service advantages to comprehensively create "three signature services" to accelerate the optimization of payment experience for the elderly and foreigners in China.

　　Signature aging service, signature cash service, and signature international service are the three signature services of China Merchants Bank. According to Wang Liang, CMB’s branches in key areas have completed the renovation of elderly assistance facilities, arranged green channels for elderly customers, and assigned star-rated tellers. Recently, the English version of the China Merchants Bank App has also been launched to provide more considerate services to foreign cardholders.

　　What’s more worth mentioning is that in order to bridge the digital divide and help the elderly cope with problems such as “not knowing how to use, not wanting to use, and afraid to use” smart applications, China Merchants Bank has also customized the senior version of the China Merchants Bank App for elderly customers, with large font size and beautiful interface. It is simple and easy to operate, and can activate manual co-screen service with one click. At present, the senior version of China Merchants Bank App has served more than 1 million elderly customers.