Agricultural Bank of China Limited (ABC) recently issued the Opinions Concerning Promoting the Innovation and Upgrade of the "Kins Farmer's Benefit Express" Project. The purpose is to adapt to the new trend of serving "Sannong" (agriculture, rural areas and farmers) and the new development momentum of Internet finance. It is also for the purpose of promoting machine upgrade, function improvement and mode innovation for "Kins Farmer's Benefit Express" project and thus further facilitating and improving rural financial service.
According to the Opinions, ABC will summarize its previous explorations and practice and introduce new technologies in Internet and mobile Internet on the basis of the current outlet network of "Kins Farmer's Benefit Express". It will innovate in and upgrade the project from the four aspects of enriching functions of the Farmer's Benefit Card, upgrading electronic machines, project and Internet finance and mobile finance connectivity. Agency businesses and comprehensive services will be further expanded to provide county-level and rural customers with integrated online and offline financial services including basic finance, e-commerce, investment and wealth management. The purpose is to make the project more convenient, effective, competitive and lasting.
In order to make the Farmer's Benefit Card more useful and handy, ABC will actively drive forward upgrade of card functions, and strive to realize categorized management of customers and differentiated service for high-end customers. It newly activated the function of "Cundaitong" and will also popularize wealth management products exclusive to the card among farmers and offer preferential charge for the card services in a larger scope.
ABC will also accelerate upgrade of traditional electronic machines. It will speed up to distribute "Zhifutong" machines offered by the Head Office, continue to perfect machine functions, activate such functions as cash remittance and transfer at the machines and increase withdrawal limits for farmers. Fee-based functions such as rural social security, water, power and gas bill and cable TV will be loaded and efforts will be made to strive to activate all agency fee payment functions at service centers. Functions of machines of the "10,000 Villages and 1,000 Town Marketing" project will be improved, e-commerce platforms will be connected and business handling capacity of machines will be reinforced.
In order to ride along the new trend of development of mobile finance, ABC will also make great efforts to promote rural mobile payment centered on "Yinxuntong". This will be taken as basic machine types of "Kins Farmer's Benefit Express" together with "Zhifutong" and popularized in remote areas where landlines are not available. By mobile Internet technologies and developing and loading modularized APPs with wide applications at smart phones, ABC will enable rural area customers to enjoy small-sum deposit & withdrawal, transfer & settlement and fee payment without leaving the village.
In response to the new momentum of Internet finance development, ABC will boost matching between "Kins Farmer's Benefit Express" and e-commerce and promote application of such platforms as "E Agricultural Butler" and "Four Financings". It will introduce Internet technologies first into goods purchase and sales by upper-stream and downstream merchants in rural goods circulation, direct sales of farm products and distribution of agricultural materials. A rurally localized Internet-based Sannong e-commerce platform will be constructed to provide county-level and rural customers with online/offline integrated financial services.



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