City reveals trustworthy prepaid card providers

The first batch of companies with a top credit rating which issue single-purpose prepaid cards in the city has been unveiled, covering supermarkets, bakeries, cafes and online tourism agencies.

A monthlong campaign kicked off on Thursday to optimize the consumption environment and protect the legal rights and interests of consumers as a part of the 5th Shanghai Double Five Shopping Festival.

Educational campaigns hosted by the Shanghai Single-Purpose Prepaid Card Association, local commercial banks, insurers and enterprises are to be staged at 50 major community neighborhoods and 12 downtown business circles, with on-site consultation also available.

According to an industry rule released by the city government last week, 40 percent of total prepaid amounts should be put aside in a special deposit management account.

The regulation that took effect on May 1 seeks to improve the credibility of trustworthy players with a dynamic warning mechanism also put in place to track each card issuers' business situations and risk contingency plans.

Local businesses shall not collect more than 50 million yuan (US$6.8 million) in prepaid card forms from shoppers, and for new businesses set up within a year, all prepaid amounts should be put aside.

The association has reiterated the prepaid card law which sets the upper limit for each anonymous prepaid card at 1,000 yuan and 5,000 yuan for a single identified prepaid card.

Consumers are also being urged to sign a purchase contract whenever possible, read the terms and conditions carefully before signing, and keep written evidence such as invoices and receipts.

They should also be aware of direct payment towards personal accounts instead of corporate accounts when purchasing prepaid cards.

Credit histories and ratings of card issuers are available at the city's single purpose prepaid consuming card coordinated supervision and service platform (https://yfk.sww.sh.gov.cn/#public/index/index) and the "shssca" WeChat account.

Businesses with a high credit rating that issue prepaid cards in the city:

• Retailer: Bailian Group
  
• Department store: New World Co Ltd, Yuexing Group
  
• Supermarket: RT Mart, Metro
  
• Hotels: Atour, Sun Island Resorts
  
• Travel and leisure service: Trip.com, Zhongrui Film
  
• Dining: Shunfeng Catering Group, Harvest Festival Group, Zuotingyouyuan Hotpot
  
• Quickservice restaurants: KFC, McDonald's,
  
• Coffee and drinks: Starbucks, LeleCha
  
• Pastry: Ganso, Ruby Foods
  
• Apparel: Zegna
  
• Beauty and well-being: Beauty Farm, Siyanli, Clarins, MS Beauty
  
• Pharmacy: Sinopharm Guoda Drugstore
  
• Laundry: Elephant King
  
• Automotive servicea: Tuhu Car