Recently, Postal Savings Bank (PSBC) announced an adjustment to its credit card online channel services. According to the announcement, to meet business development needs, PSBC will gradually integrate credit card functions into the "PSBC Mobile Banking App." Upon completion of the integration, the standalone "PSBC Credit Card App" will be discontinued. However, credit card services for customers will remain unaffected, as they can continue to handle related business through channels such as mobile banking.
At the end of September, Bank of China also announced adjustments to its credit card business. According to its announcement, Bank of China has initiated the migration of functions from the "BOC Life" App, with credit card-related features gradually being moved to the "Bank of China App." The original App will subsequently cease downloads and registrations, and its services will be gradually phased out.
In September 2024, the National Financial Regulatory Administration issued a notice requiring financial institutions to optimize, consolidate, or terminate operations of mobile applications that have low user activity, poor user experience, redundant functions, or significant security and compliance risks.
Tian Lihui, a Professor of Finance at Nankai University, stated that the "slimming down" of bank apps is an inevitable choice in the digital strategic transformation of the banking industry. He predicts that more banks will integrate credit card services into their main apps in the future, forming a matrix model of "main App + diversified lightweight touchpoints." Professor Tian also noted that while consumers may need time to adapt to the new channels in the short term, the long-term experience is expected to be superior. Users will gradually bid farewell to the hassle of repeatedly switching between apps and remembering multiple passwords, instead enjoying more integrated and seamless one-stop services.
In fact, PSBC had already signaled this integration earlier. On November 15, the bank announced that, effective from that date, it would suspend new customer registrations, card binding, and activation services via the PSBC Credit Card App. Existing customers could still use the app normally, but all new service entry points were fully redirected to the main App and other channels.
Beyond the large state-owned banks, the pace of integration among small and medium-sized banks has been even more密集. Since the beginning of this year, several banking institutions, including Jiangxi Bank, Beijing Rural Commercial Bank, Shanghai Rural Commercial Bank, Sichuan Rural Credit Union, and China Resources Bank, have either shut down their standalone credit card apps or merged them into their main mobile banking platforms. Looking further back, the credit card apps of institutions such as Bohai Bank, China Zheshang Bank, Hengfeng Bank, and Bank of Ningbo were also phased out successively in 2024.
Industry insiders point out that as the红利 of credit card quantity expansion diminishes and profit margins face pressure, the decentralized, multi-entry online operation model has hit an efficiency ceiling. By integrating credit card services into the main App, banks can potentially reduce costs while simultaneously enhancing the user experience and improving resource allocation efficiency. This shift is driving the credit card business from an era of "independent operation" towards a new stage characterized by a "unified entry point and comprehensive services."
