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 Your Location | English Site  What's New Eyes on CUP |
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| Payment Convenience—the common demand of people in both countries |
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Using bankcard for payment and consumption has becoming the significant trend with the rapid and sound development of China’s economy as well as the growing popularity of CUP cards among Chinese consumers. At the same time, with the acceptance of CUP cards in foreign countries and regions has been in growing perfection, the overseas consumption through bankcard by card holders increases dramatically, which drives forth the relevant countries and regions’ tourist economy, boosts up the consumption and booms business and trade as well.
It’s well known that the slackening domestic demand has been an issue arousing attention from all sectors of Japanese society with the trend of aging of population and low fertility rate. The last decade saw a decline in sales volume of department stores in Japan and their efforts to attract foreign travelers’ consumption. Under such conditions, it’s no wonder that the Chinese CUP card holders are regarded as a significant force to reinvigorate business by Japanese merchants.
Reporter learns that the Japanese merchants with Yodobashi and Ginza Matsuzakaya as representatives are in full expectation for Chinese consumers. They are not only striving for becoming the engaged merchants of CUP, but also launching all kinds of benefit preference activities for Chinese CUP card holders. According to the statistics of CUP, the transaction volume of consumption by Chinese card holders in Japan soars up so fast that every four months the volume doubles.
Certainly the role CUP card plays in Sino-Japanese exchanges includes not only facilitating Chinese visitors’ consumption in Japan and boosting up Japan’s tourist economy, but also providing considerate services of using card for Japanese visitors. According to the statistics of China National Tourism Association (CNTA), in 2007, there are more than 3.97 million Japanese visiting China. In light of this, CUP cooperated with Sumitomo Mitsui Cards Company to issue standard CUP credit cards in December 2007 for those Japanese who go to China for working, living or traveling, which undoubtedly yields payment convenience for those people.
Since each year the personnel exchange between China and Japan is over 5 million person-time, the development of CUP services in Japan will provide people of the two countries a convenient payment platform, as expressed Kumiko Yasuhiro, director of International Sightseeing Reinvigoration Office at Ministry of Land, Infrastructure and Transport.
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