The ICBC Mobile Payment American Express® Card, China’s first dual-currency credit card with mobile account payment capabilities and features, was officially launched on Nov. 11 by the Industrial and Commercial Bank of China (ICBC), Union Mobile Pay (UMPay) and American Express.

The ICBC Mobile Payment American Express Card combines the leading credit card platform of ICBC, the advanced mobile e-commerce services of UMPay (a joint venture founded in August 2003 by China Mobile and China UnionPay), and the global merchant network and marketing resources of American Express. The Card signals a new era of collaboration among banks, mobile payment providers and credit card organizations, and will provide unparalleled levels of integration, efficiency and control for Chinese consumers.

After designating their mobile phone number to their credit card account and activating their mobile payment function, Cardmembers can select merchants accepting mobile payments from their mobile phones, and authorize their payments for digital downloads, utilities, and other online and offline goods. The transactions will be automatically charged to their ICBC Mobile Payment American Express Card accounts. Cardmembers can choose to settle their charges in either US dollar or Renminbi and they don’t have to pay those charges until they receive their credit card statement.