#United States #New York #Visa #SunCar Technology #ICBC

SunCar and Visa: A New Era in Premium Services

In a significant development for the Chinese premium services market, SunCar Technology Group Inc. has joined forces with Visa to provide exclusive services for cardholders of the Industrial and Commercial Bank of China (ICBC). This strategic alliance is set to unlock new revenue streams and define a new standard in customer experience for affluent consumers.

A Partnership That Matters

Announced on March 3rd, 2025, this collaboration cements SunCar's position as a premier player in the auto e-insurance sector and cloud-based business-to-business services. Through this partnership, SunCar will be the sole provider for Visa's Concierge Car Service Project, specifically targeting high-net-worth individuals who hold ICBC's Platinum and Black Gold credit cards. This elite clientele possesses assets exceeding $1.1 million and boasts credit card limits that surpass $275,000, representing a lucrative market segment.

Ye Zaichang, CEO of SunCar, expressed enthusiasm over the partnership, highlighting that the rigorous vendor assessment process by Visa underscores SunCar's technological prowess and commitment to excellence in service delivery. "This collaboration not only boosts our market reputation but also accelerates the growth of shareholder value with minimal capital outlay," stated Zaichang.

Leveraging Technology for Growth

The strength of this partnership lies in SunCar's advanced technology and extensive service network across China. Utilizing a cloud-based platform and an AI-powered dispatch system, SunCar is well-equipped to deliver high-quality transfer services at both airports and high-speed rail stations. The ability to scale operations efficiently means that SunCar can uphold premium service standards while optimizing costs.

With China's growing population of high-net-worth individuals, and an expanding premium services landscape, this alliance positions SunCar well to capitalize on emerging opportunities. The comprehensive auto service platform developed by SunCar connects drivers to a diverse range of services and insurance options, enhancing the customer experience and operational efficiency for its B2B partners.

The Road Ahead

As the demand for premium services escalates in China, SunCar's partnership with Visa is more than just a business deal; it is a strategic move that aligns the Company for future growth. This collaboration is expected to improve access to premium transportation services for a discerning clientele, reinforcing SunCar's reputation as a leading innovator in the auto services domain.

Founded in 2007, SunCar has demonstrated a commitment to transforming the auto insurance and services landscape. The Company's proprietary technology positions it uniquely to leverage its capabilities further in the rapidly evolving market. In conclusion, this partnership is a pivotal step for SunCar, solidifying its market position while creating enhanced value for its clients and shareholders alike.

For more information about SunCar Technology and its offerings, visit suncartech.com.