Zheng Quan Ri Bao·2025-07-17 16:40Core Viewpoint - The credit card market is undergoing significant adjustments, with multiple banks, including Bank of China, ceasing the issuance of certain credit card products, particularly co-branded cards, due to market, regulatory, and operational pressures [1][2][3]. Market Environment - The credit card business has entered a phase of stock competition, leading banks to streamline their product lines and focus on high-frequency usage scenarios [3]. - As of the first quarter of 2025, the total number of credit cards and loan cards in circulation has decreased to 721 million, marking the tenth consecutive quarter of decline [3]. Regulatory Environment - Financial regulators are enhancing the oversight of credit card cooperative businesses, urging banks to manage the qualifications of partners and the risks associated with benefit redemption [3]. - New regulations are pushing banks towards a more refined operational model, encouraging the exit of inefficient products from the market [3]. Operational Adjustments - Banks are increasingly reducing reliance on external brands and shifting towards building self-controlled consumption ecosystems, integrating comprehensive services to enhance user engagement and data management [2]. - The operational costs associated with maintaining multiple card types are prompting banks to discontinue low-efficiency products and migrate existing users to standardized offerings [3]. Future Directions - The future of credit card business is expected to focus on three transformation directions: 1. Integrating all-encompassing scenarios to create a self-operated consumption ecosystem that includes various services [4]. 2. Upgrading technology to enhance digital service experiences and improve asset quality through intelligent risk control [4]. 3. Deepening customer segmentation to cater to specific user groups, transitioning from "scale issuance" to "value creation" [4].