JD Business Empowers SPD Bank’s Credit Exchange Service

JD Business Empowers SPD Bank’s Credit Exchange Service

by Yuchuan Wang

Recently, China’s SPD Bank joined hands with JD Business, JD.com’s enterprise procurement business, to leverage the e-commerce giant’s intelligent digital procurement system to provide an enhanced credit exchange experience to the bank’s over 32 million credit card users.

JD Business connects SPD Bank with JD’s product pool, enabling credit card users to exchange their points for merchandise through the SPD Bank app and enjoy JD’s fast delivery and quality after-sales service.

The product pool now covers over 380,000 items from 33 categories including office supplies, home products, beauty products, and food and beverages. In addition, JD’s big data and AI technologies enables personalized recommendation of products. The partnership helps SPD Bank greatly enlarge its product offering and improve the customer experience.

According to China Banking Association, transaction volume of credit cards in China has increased rapidly in the past few years (RMB 19.7 trillion yuan in 2014, RMB 38.2 trillion yuan in 2018). While only 21% of points earned are redeemed by users.

“As a world’s leading e-commerce company, JD has extensive online operations experience, merchandise resources, and a nationwide logistics network and service system. JD’s capabilities enable us to accurately meet the needs of 32 million credit card users. This is the primary reason we have chosen to partner,” said an SPD Bank representative.

“With the impact of the epidemic, digitization of financial services has become a clear trend. JD.com will continue to leverage its technology and retail capabilities to facilitate the digitization of the financial industry. The partnership with SPD Bank will bring even higher quality services to its users.”

 

(yuchuan.wang@jd.com)

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