Wal-Mart to Launch Credit Card in China

Published on:
8 December 2006 at 06:32 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00022015-wal-mart-to-launch-credit-card-in-china/

by Mike Bevel, CollectionIndustry.com

No sooner does China start making small noises about maybe wanting to experiment a little with consumer debt ? more of an aside, really; a whisper, if you will ? then here comes Wal-Mart, credit cards a-waving. ?Did someone say consumer credit?? Like, you know, it just happened to be in the neighborhood with a pocketful of plastic.

Wal-Mart?s proposed Chinese credit card, according to Reuters, will be a dual currency card that can be used anywhere and will provide special discounts at Wal-Mart stores in China.

The card will initially be launched in six Wal-Mart stores in Shanghai, Nanjing, and Fuzhou.