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China Merchants Bank next month plans to launch a Visa-branded credit card in collaboration with One Foundation, a charity created by Kung Fu movie star Jet Li. The charity is associated with Red Cross operations in China. Three card versions will be available–classic, gold and platinum, a bank spokesperson tells CardLine Global. Only the classic version will be available at first, according to the spokesperson. Cardholders can choose to donate 1 yuan (US$0.1) to the foundation every month or 0.1 yuan per transaction, according to the spokesperson. The bank will waive the 300 yuan annual fee in the first year. China Merchants Banks had issued 20.7 million credit cards as of the end of December.
