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Local housewives find life easier.
With use of bankcards becoming common place, housewives in Shanghai are finding it much easier to control family finances.
Shanghai has traditionally seen housewives, especially middle-aged women, control the family purse strings while the husbands hand in their monthly wages.
"Cards make life convenient. With it, I need not carry much cash when shopping. Above all, it helps avoid unnecessary disputes with my husband," said Wang Yuhua, a Shanghai housewife.
As her husband's company pays employees through bankcard, she needs only make a call to check every deal. Thus her husband has no opportunity to make ill-use of the money.
"Sometimes, I just use his card to pay bills," said Wang.
Bankcards have now replaced the "fat wallet" as a symbol of wealth among locals.
Municipal statistics show that by the end of last year, an average Shanghainese owned two bankcards; every 14 bank cards issued in China included one issued by commercial banks in Shanghai.
Zhu Ding, who works in the bustling No 1 Department Store, recalled that five years ago, customers would mind the size of wallets, "especially rich people who were worried small wallets would lose their shape if bulging with bank notes."
Things are different today, Zhu said, noting that shoppers now care more about the slots in a wallet for inserting cards.
Increased demand for bankcards has prompted shrewd businesses and banks to join hands to offer promotional packages to their customers, including insurance policy, cell phones and automobiles.
More than half of Shanghai's big- and medium-sized retail, tourism and catering stores are expected to accept bankcards by 2005. Major domestic commercial banks have cashed in on the booming business and established bank and credit card centers in Shanghai.
(eastday.com June 5, 2003)
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