(Yicai Global) Aug. 14 -- The Agricultural Bank of China Ltd. [SHA:601288] and Mastercard Inc. [NYSE:MA] will work with China's largest audio sharing platform, Himalaya FM, to release credit cards aimed at younger demographics.
The new card, called My Way Credit Card, marks the first time that banks have worked with an audio platform to integrate financial payments with intellectual property payments and listening and reading.
Cardholders can enjoy a free three-month membership for the platform and also receive monthly recommendations regarding Himalaya FM shows.
The card will be functional online and offline in 210 countries.
The number of consumers willing to pay for intellectual content in China tripled in 2016 to reach nearly 50 million, with users born in the 1980s and 1990s making up over 90 percent.