In foreign countries, "signature verification" is indeed more mainstream. Even if you use a domestic credit card with a password to make purchases abroad, you do not need to enter a password if you use Visa, Master, etc. I asked employees from UnionPay and China Merchants Bank why this difference in habits occurs? No convincing answer was received. The following is my personal speculation: In the late 1950s, American financial institutions began to issue credit cards and it became a popular business model. However, the communication network technology of that era could not support authentication through instant password interaction. Therefore, "signature verification" was the optimal choice after a comprehensive balance of security, efficiency and technology at that time. China Bank Card Union (China UnionPay) was established in 2002. The rapid development of the mainland credit card industry began in 2003, which is called the "first year of China's credit cards" in the industry. In other words, the large-scale development of credit cards in mainland China occurred in the 21st century. At this time, real-time data interaction among banks, merchants, and settlement systems has been fully realized technically. Obviously, at the same cost, "password confirmation" is safer and more reliable than "signature verification". Therefore, "password confirmation" has become the main model promoted by domestic credit card issuers and has cultivated user habits. It can be seen that the "signature verification" method for credit card consumption is a specific custom formed under specific historical conditions in Europe and the United States. This method has no advantages. Just because the proportion of fraudulent amounts is below the bad debt rate that financial institutions can bear, foreign financial institutions have adapted to this habit of customers and have not made forced changes. The "password verification" method used by the mainstream in domestic credit card consumption is technically more advanced and should be promoted on a wider scale. (As for the different liability for compensation brought by "password" and "signature", that is another issue that can be discussed.) Behind the credit card consumption verification method are different technical paths brought about by the advantage of being a latecomer. Similarly, there are American families' usage habits of recorded phone calls, personal checks, etc. Unfortunately, I have read many articles about the use of credit cards by financial experts and financial scholars, but no one has spoken out on this level. Instead, they have indiscriminately praised foreign practices, and everyone believes that they represent the development direction of advanced productivity. ……