The reason why credit cards do not have passwords

The first is that if the credit card is lost, if a password is set, password payment will bring more security and reduce financial risks. , and without a password, there are more possibilities, because when the credit card is lost, the bank defaults to the card being lost due to the cardholder's fault. In this case, the financial risk and loss will be borne by the cardholder.

Second, the credit card is stolen (that is, the card is in your hand, and others obtain your information through copying, the Internet, and other circumstances and cause losses by swiping the card). In this case, if your card has a password, then sorry, the bank will assume that the loss was caused by your fault for improperly keeping the payment key. In this case, the card issuer will not compensate you. If the card is stolen without a password, the responsibility lies with the bank and the merchant, because the bank and the merchant have the obligation to verify the customer's seal and signature. In this case, banks and merchants should bear the losses of customers. Of course, even if a password-less credit card is stolen or lost, it will be very troublesome for the bank to compensate, and there are many restrictions. Therefore, in order to increase the security of using the card, domestic cardholders are still advised to set a transaction password. Reduce capital risk.