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ICBC Launches “e-Boost Plan” to Benefit Small- and Medium-sized Merchants

On July 6, ICBC officially launched the “e-Boost Plan”, dedicated to providing small-and medium-sized merchants with a comprehensive financial service package including acquiring and settlement, deposits & wealth management, credit financing, precious metal customization and private banking. At present, ICBC has initiated cooperation with multiple large-sized specialized markets in Hebei, Guangdong, Shandong, Jiangsu, Zhejiang and Hubei, serving more than 150,000 small- and medium-sized merchants.

As informed by an official of ICBC, the “e-Boost Plan” is an inclusive financial service elaborately designed for small-and medium-sized merchants. Based on the acquiring service of ICBC e-Payment and by adopting effective and smooth payment facility, proper investment and wealth management that aims at value preservation and appreciation, and easily accessible financing services, the plan has fully brought out the growth vitality of small- and micro-sized merchants. ICBC will offer basic settlement services such as payment collection to all cooperating merchants with extremely favorable prices, and also offer exclusive wealth management product, precious metal customization, investment and value preservation service, thus diversifying asset allocation portfolio for small- and medium-sized merchants to maximize capital returns. Besides, ICBC will provide high-end, exclusive and personalized private banking services to merchants that meet the requirements.

To solve the financing difficulties for small- and micro-sized merchants, ICBC, based on its e-Payment transaction flow and by adopting big data, has introduced new loan products for small- and micro-sized merchants featuring online application, real-time credit extension, loan issuance with one click, and flexible borrowing and paying off. With simple and fast loan granting procedures, revolving loan limits and reasonable fund prices, ICBC helps to lower the threshold and cost of financing for small- and micro-sized enterprises, and integrates financial services into their business processes and scenarios, thus connecting the “last mile” to inject liquidity into the small- and micro-sized enterprises.

According to sources, ICBC, relying on diverse credit products, various “I Go” credit card promotions and convenient e-Life platforms in recent years, has led the chic and active customer group who have good credit record and frequently use mobile online apps to cooperative merchants, bringing them not only with more stable customer flows, but also more business opportunities, so as to help these merchants expand their businesses. Next, ICBC will comprehensively upgrade the “ICBC Merchant Club” app to build up an open, integrating and shared online merchant service platform. With full-process merchant services featuring mobilization, intelligence and refinement, ICBC is dedicated to facilitating small- and micro-sized enterprises to improve business efficiency and enjoy modern, smart and inclusive retailing financial services.