ICBK launches RMB Cross-border B2C Payment
 
With the support of leading technology and rich customer resources from the parent bank, Industrial and Commercial Bank of China (Canada) (the Bank) officially enabled cross-border B2C payment option to its dual currency debit card and credit card holders when they purchase tickets through China Southern Airlines, China Eastern Airlines, Hainan Airlines, Xiamen Airlines Ltd. and Shandong Airlines. The Bank becomes the first Canadian financial institution provides RMB cross-border B2C payment service.
 
Customers now have opportunities to experience a new option for their online shopping payment in China. By using the service, personal clients who registered accounts with online banking are able to purchase tickets on these airline e-commerce platforms in mainland China. Moreover, customers can conveniently make payment in RMB or CAD for orders. The account system allows priority selection of purchase with RMB, which helps customers to avoid fluctuations in the rate of exchange. If there are insufficient funds in RMB, customers are also able to choose purchasing with CAD by enjoying most favorable and real time exchange rate.
 
In the future, the Bank will be actively engaged with its parent bank and provide the service to more e-commerce platforms including its own e-commerce brand in mainland China. Adhering to integrity, discipline and customer-oriented business philosophy of the parent bank, the Bank will strive for more convenient and favorable online services to its customers, becoming a new bridge for Sino-Canada trade and economic exchanges and a new platform for bilateral cooperation.