ICBC Peony Card Center has recently inked a credit card business cooperation agreement with Asiana Airlines in Beijing, kicking off a round of deeper cooperation in the credit card sector between the two sides.

The cooperation involves offline acquiring service, online POS, bonus points and payment by installment, based on ICBC Global Travel Cards. Cardholders who join the Asiana Club and pay air tickets using the cards will be entitled to a 20% discount off the first-class/business class ticket price, or a 10% discount off the economy class ticket price, which apply to all Asiana flights departing from China; cardholers will also be rewarded 3,000 miles by taking valid flights during the promotion. Moreover, the Bank and the airline company will work together in precision marketing towards airline clients, offline acquiring service across direct sales stores nationwide and online POS on the Chinese official website of Asiana, as well as reward programs such as offsetting cash with bonus points and random lottery drawing upon card swiping, in addition to comprehensive financial services including "Easy Loans" and payment by installment. Next, they will also work with government bodies such as the Korea Tourism Organization, bring in premium merchant resources with local features to build a localized commercial community.

According to an official of the Bank, ICBC Global Travel Card is a featured business travel credit card with wide coverage and high added-value, customized for cross-border business travelers, with which cardholders can enjoy all-round business travel services comprising "clothing, catering, accommodation, transport, travel, shopping and study" and genuine rewards for card usage. The biggest feature of the ICBC Global Travel Card is "zero currency conversion fee", which is unconditionally and directly offered to cardholders regardless of any local currency. This feature alone can save 1% of card-swiping costs on average for clients.