Here’s an interesting development from beyond the Great Firewall. Chinese social network Sina Weibo is teaming up with China Merchants Bank on a social credit card project.
No ad to show here.
DaRen is intended, at least in part, as way of incentivising people to comply with the real name rules imposed on Sina Weibo by the Chinese government and also requires a profile picture, a minimum follower count and ties to a mobile number.
The new card will reportedly launch later this month and will allow people to have their Weibo URLs printed on them. That means that it can be used as a from of social identification. What it also means though is that Sina Weibo will have another means of monetising.
The social network will, for instance, be able to target customers with specific offers. Users meanwhile will get points for shopping at specific locations, the ability to send fast feedback on Weibo every time they make a purchase and grab discounts, even if they don’t have their credit cards on them.
As The Next Web notes, this isn’t the first social credit card to hit the Chinese market.
Facebook clone Renren also teamed up with China Merchants Bank for its own social credit card.