大分化时代，信用卡加速进化

Core Viewpoint - The credit card industry is undergoing a significant transformation, moving towards a high-quality development phase as leading institutions solidify their market positions and the Matthew effect becomes more pronounced [2] Group 1: Industry Adjustments - Major banks have announced adjustments to their credit card businesses, including the upgrade of dual-standard magnetic stripe cards to chip cards, reflecting a proactive response to market conditions and regulatory guidance [2][3] - The adjustments involve optimizing product systems, upgrading card functionalities, and revising customer strategies, indicating a shift towards meeting specific customer needs and enhancing operational efficiency [3][4] Group 2: Product Iteration - The iteration of co-branded cards is particularly noteworthy, as these products are subject to contract limitations and must align with the evolving focus of partner organizations [3] - The lifecycle of card products necessitates continuous iteration to maintain scale and profitability, especially as consumer demands and market environments change [3][4] Group 3: Technological Advancements - Leading institutions are leveraging technology to enhance the functionality and value of credit cards, with a focus on cross-border payment experiences [6] - The transition from magnetic stripe cards to chip cards is being accelerated, providing enhanced security and broader acceptance in international markets [6][7] Group 4: Market Dynamics - The ongoing adjustments by leading institutions are expected to deepen the Matthew effect, leading to a more stable market structure and the potential for credit card products to achieve resilience across economic cycles [8]