Oct 21, 2020|

Ping An Bank and JD Digits Jointly Launch Credit Card


by Yuchuan Wang

Ping An Bank, a Chinese joint-stock commercial bank and JD Digits, a leading digital technology provider backed by JD.com, jointly announced the launch of the “Ping An-JD IOU credit card” on October 20th. Additionally, the two parties will collaborate in retail, business finance, wealth management, financial market, smart marketing, intelligent risk control and digital finance in the future.

Launched by JD Digits in 2014, JD IOU (also known as JD Baitiao) is China’s first internet credit product that enables consumers to buy now and pay later on JD.com. With just one click, JD’s powerful AI and big data system can analyze a user’s line of credit and grant the IOU amount.

With the launch of the joint credit card, users for the first time can use JD IOU credits beyond JD’s scenarios online or offline, and meet customers’ various demands in eating, hotel booking, travel, shopping, entertainment and more.

“The Ping An-JD IOU card is an exploration between the two companies,” said Ruzhong Yu, president of Ping An credit card center. “By upgrading from the existing JD IOU consumption account to a credit card account, users will be able to enjoy more benefits brought by the card.” JD IOU users can confirm the upgrade with one click, and the approval process can be verified in as soon as 12 seconds, according to JD Digits.

“The credit card integrates Ping An and JD Digits’ capabilities in scenario and product design, customer service and digital technology,” said Ling Xu, vice president of JD Digits. “It’s an innovative credit consumption product that is suited to users’ preferences during a period of digitalization.”