Shandong Agricultural Association and China Telecom jointly put more than 30,000 POS machines to alleviate rural financial services

On May 5, the signing ceremony of the strategic cooperation framework agreement between Shandong Rural Credit Cooperative and China Telecom Group Shandong Branch was held in Jinan. According to the cooperation agreement, in the next five years, the two sides will carry out comprehensive cooperation in the fields of communication services, business agents, product supply, resource sharing, etc., fully relying on each other's resource advantages and achieving the strategic goals for future development. This is to accelerate the financial technology network in rural areas. Covering and extending, it is of great significance to improve the level of rural financial services.

In recent years, the Provincial Association has closely focused on the goal of “creating a first-class financial institution” and adhered to the business philosophy of “stable operation and steady development”. It is committed to supporting and promoting local economic development, and fully implements the “technology-led” strategy. Increase investment in science and technology, and build a technology service system with a new generation of core business systems as the mainstay, with e-banking, UnionPay, modern payment, rural credit, and intermediary business systems as the periphery, all-weather, three-dimensional, multi-functional, smooth payment The settlement service channel fully satisfies the diversified financial service needs of customers.

As of the end of April 2011, the total assets of the rural credit cooperatives in the province reached 916.6 billion yuan, the balance of various deposits was 755.9 billion yuan, and the loan balance was 558.7 billion yuan. Among them, the proportion of loans related to agriculture accounted for 72.5% of the total loans, and the bank card circulation reached 16.27 million. It opened 120 million deposit accounts, 64.48 million deposit customers, 3.56 million loan accounts, and 2.81 million loan customers. The average daily transaction volume of the province reached 4.15 million. The Provincial Association has given full play to the advantages of the science and technology service system and vigorously implemented the smooth settlement project for payment and settlement in rural areas. The coverage of the Rural Credit Union, the in-row remittance and the large-scale payment system reached 49%, 38% and 26%, respectively. There are 2,460 financial self-service terminals for farmers, 4,126 ATM self-service devices, and 30,000 machines for pos machines, which effectively alleviate the problem of insufficient financial services in rural areas and better play the role of rural finance.

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