As of the third quarter of 2011, there’re more than 268 million credit cards in circulation in China, according to a statistics by China’s ‘central bank’, the People’s Bank of China. Given the trifling 3 million mark back in 2003, the 90 times growth in less than ten years is quite astonishing. No wonder credit card business is deemed as the last piece of cheese in Chinese finance sector as well as the driven power and one of the main revenue sources for Chinese banks in the years to come. And the growth isn’t stopping soon, Mastercard Worldwide, the world’s second largest payment network estimated that China is on track to overtake the U.S. as the largest market for credit cards by 2020 with about 9 million cards in circulation.

With mounting competition as major Chinese banks flocked into the lucrative market to tout perspective customers for their own credit cards, issuing banks are working on whatever it takes to make their way into people’s wallet. Thus every Chinese bank has their own reward points program through which you can redeem free gifts with the points earned by charging your credit card. Also, they signed up scores of local merchants like restaurants, theaters, travel agencies and so forth to offer card holders with deals at discounted price. All information about reward points program and cardholder-only deals are available on their websites, so anyone who dig deeper into all his/her issuing banks’ websites could get abundant nice deals. Given the mixed results of bank website construction – don’t expect banks’ outsourcer takes a hint to some of the fancy concepts that are popular among web designers like user experience, information architecture, Don’t Make Me(or User) Think and so forth – here comes the problem, who’s willing to do that? And is there any solution that is more convenient and less painful?

To serial entrepreneur Cui Tao, the answer is yes. He and his new project Kayohui is coming to the rescue.

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Ben Jiang

Listener of startups, writer on tech. Maker of things, dreamer by choice.