The Agricultural Bank of China (ABC) has developed a credit card aimed at the mothers of children under the age of six.
The “Pretty Mom” credit card entitles holders to discounts on baby products and education for very young children.
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The lender is hoping that a surge in female spending will boost its credit card portfolio.
Liu Guiping, business director of ABC, said the bank is counting on female clients in cities to upgrade the bank’s credit card services.
The new services will focus on consumer experience, Liu added.
ABC is not the first bank to show interest in China’s female consumers.
Many of China’s major banks, including China CITIC Bank and China Everbright Bank, have already offered cards geared toward women that offer discounts on clothing, cosmetics and salons.
A recent survey by HSBC showed that 63% of women from the Chinese mainland acted as decision makers on money matters, signalling a shift in traditional roles in the Chinese household.
CITIC’s vice president Sun Deshun said its “Lady Card” was consistent with the social trend of women becoming heads of households and “bosses” of family wealth management.
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