HSBC and Industrial and Commercial Bank of China Launch First Cross-Border Credit Card Points Redemption Plan

Opinion Net News: August 14, HSBC Hong Kong and ICBC jointly launched the industry's first cross-border credit card points redemption plan. This plan is targeted at selected ICBC credit card users who hold an HSBC account, allowing them to redeem points for "Reward+" cashback, aiming to enhance their cross-border consumption value and user experience.

According to the scheme, users can complete the redemption process through the "ICBC Life App", with 1,700 ICBC points redeemable for 1 HSBC "Reward+" cashback. The HSBC "Reward+" platform currently covers dining, shopping, and leisure benefits across various fields, with over 2 million downloads. ICBC data shows that its credit card customer base exceeds 20 million, with points further redeemable for flight miles, electronic coupons, and other added-value services.

HSBC's Chief Client Officer for Wealth Management and Personal Banking in Hong Kong, Xu Changhong, revealed that the redeemed "Reward+" cashback value of HSBC credit card customers reached a scale of hundreds of millions of HKD in 2024. ICBC Credit Card Center General Manager Liu Bingwen noted that this cooperation strengthened the service coordination effect between the two parties in the Greater Bay Area. It is understood that both banks signed a cooperation agreement in 2023 to continue promoting innovative cross-border financial services.

Disclaimer: The content and data of this article are compiled by Opinion based on public information, and do not constitute investment advice. Please verify before use.