2011 was a year of bountiful harvest. China UnionPay and MasterCard have agreed to cooperate in offshore online payment business, allowing overseas online merchants to accept payment made with UnionPay cards via the MasterCard Payment Gateway. The move has helped foster offshore cross-border transactions. Furthermore, the two parties extended a previously signed cooperative Memorandum of Understanding to expand the scope of cooperation and jointly explore new innovative payment projects.

　　At the same time, MasterCard launched an array of innovative credit card products with banks, including the China CITIC Bank-Cheung Kong Graduate School of Business ("CKGSB") Co-brand Platinum Card, the JEEP MasterCard presented in partnership with Chrysler China, the Shanghai Rural Commercial Bank World Xin Card with ANZ Bank ("ANZ"), and a brand new co-brand credit card with Walmart China. These new introductions have notably enriched MasterCard's portfolio and are catering to more diverse consumer requirements.

　　At the event, the China CITIC Bank-CKGSB Co-brand Platinum Card was unveiled by the Bank represented by its president Chan Xiao Xian and CKGSB dean Dr. Xiang Bing. MasterCard, as a global payment brand, is the enabler of worry-free worldwide spending by holders of the Platinum Card, allowing them to shop with more than 30 million merchants around the world. Speaking on behalf of China CITIC Bank at the event, CITIC Bank Vice President Cao Tong and Head of the Credit Card Center Chen Jin stated clearly their determination to improving respective services so as to meet the needs of high-end customers the likes of CKGSB.

　　In mid-2011, MasterCard, China CITIC Bank and Chrysler China came together to launch the JEEP MasterCard, marking the expansion of MasterCard's co-brand card footprint in China. Holders of the new MasterCard can spend first and settle payment later as well as enjoy a host of services including overdraft, zero risk from card loss, high-value flight insurance, platinum golf experience, automobile rescue and payment by installment for purchase of qualifying automobiles with the card, etc. Special offers also include waiver of the RMB480 annual fee and three free maintenance service visits for qualifying automobiles paid for with the credit card.

MasterCard and CITIC Bank Launch Business School and JEEP Co-brand Cards

　　In January 2011, the China CITIC Bank and Cheung Kong Graduate School of Business Co-brand Platinum Card was launched coinciding with the opening of the CKGSB Forum Golf Invitation Tournament. CITIC Bank President Chen Xiao Xian and Vice-president Cao Tong, Head of the Credit Card Center Chen Jin and Private Banking Center General Manager Ma Jin Song attended the event.

In addition, the JEEP MasterCard has a series of prestigious offerings ready for cardholders:

MasterCard, Shanghai Rural Commercial Bank and ANZ present World Xin Card

　　On 16 November, MasterCard, Shanghai Rural Commercial Bank ("SRCB") and ANZ launched the World Xin Card. The new credit card boasts strategic importance. It is the first credit card launched by the three partners and also the first international credit card of SRCB and the first high-end credit card issued in the Chinese Rural Credit Union system.

　　The World Xin Card brings together local and overseas resources for its holders. It has the advantages of coverage as extensive as the regional network of SRCB and local resources, and, at the same time, promises cardholders the value-added services and technological support from MasterCard and ANZ. Cardholders are offered new and exceptional experiences of quality services. For example, holders of the World Xin Card are entitled to access to the First Class Passenger Lounge at the 53 airports in China as well as value-added services including after-drink chauffeur service and high compensation travel insurance that suit their high-end lifestyle. What's more, cardholders are also eligible for MasterCard's overseas merchant bonus programs and the ANZ Spot merchant bonus programs tailored to quench their shopping desires.

　　According to the 2011 Hurun Rich List, there are 960,000 people in China with assets worth more than RMB10 million. These wealthy people growing in number are not merely from first-tier cities, but also areas around those cities. The target customers of the new World Xin Card are these high-value groups. The card will allow MasterCard to provide better services to consumers in sub-urban areas in China. The participation of MasterCard in this partnership testifies yet again to its long-term commitment to the China market and its aspiration to give back to the Chinese community.

MasterCard and Walmart China Launch New Co-brand Card

　　MasterCard and Walmart China have joined hands again to launch a new co-brand credit card, which is issued by the Bank of Communications. Walmart is a leading global retailer and an important global partner of MasterCard. The two companies have kicked off cooperation in many markets around the world in recent years and the new credit card is the latest of their collaborative initiatives.

　　The first MasterCard and Walmart co-brand card was introduced in 2006 and more than a million of it had been issued in China so far. MasterCard has gathered top merchants from around the world and local resources to offer holders of this latest card exclusive privileges and Walmart's generous assembly of services. For example, the "Hottest Friday" shopping bonus—a 0.5% discount for purchases over RMB128 (excluding cash coupons) made on Fridays by cardholders. The savings (after tax) in the form of rebate will be credited to the customer's credit card. In addition, the bonus which was originally available to cities in northern China has been expanded to stores in the entire country.

　　James Chen, General Manager China, MasterCard Worldwide, said, "The new card represents an important milestone for us because we have a long-standing cooperative relationship with Walmart and the Bank of Communications too is an important partner of ours. In China, the credit card has quickly become an integral part of consumers' daily life. The new card will better serve their needs and give them yet finer consumption experiences."