Bank cards are divided into chip cards and magnetic stripe cards according to media types. In the past, the bank cards issued by commercial banks were mainly magnetic stripe cards, and ic credit cards were chip cards. The magnetic stripe bank card has the defects of small information storage and easy to be copied and forged, while the financial ic card has stronger anti-copying and anti-theft ability. Moreover, because the storage medium is a chip, the IC card can store information such as keys, digital certificates and fingerprints just like a microcomputer.

According to different communication modes, IC cards can be divided into contact, non-contact and dual-interface IC cards. In addition to all transactions supported by magnetic stripe cards, ic credit cards can also realize a series of extended functions, such as allowing cardholders to use offline without connecting to the banking system, making small quick payments in subway stations, buses and other places that need quick payment, and even realizing multi-purpose of one card in social security, medical care and other fields.

The highlight of IC credit card: e-wallet

PBOC2.0 standard chip of China People's Bank has both credit card account and electronic cash account, in which electronic cash account is used for contactless payment. Cardholders can make small offline payments in shops with UnionPay "UP-CASH" logo, such as restaurants, gas stations, supermarkets, cinemas and other places, just like using a bus card.

According to reports, because the electronic cash account transaction does not need to enter a password and check the signature, there is no need to worry about the credit card line when paying with the bank ic, which greatly improves the transaction speed. This is equivalent to loading an "electronic wallet" in addition to the traditional functions of credit cards. Cardholders can recharge their electronic wallets with cash, or sign up the money from the main account of the credit card and deposit it in the electronic wallet. Because the consumption of "e-wallet" is anonymous and not reported, it is mainly small consumption.

Crime of IC credit card intercepting bank card

For consumers, the biggest advantage of using financial IC card is that the account is safer. The upgrade of bank card from magnetic stripe to chip is a technical upgrade. Compared with magnetic stripe card, the security of ic card is greatly improved, and the chip is difficult to copy, which can effectively curb frequent bank card crimes. It is understood that strange things have happened in many parts of the country that bank cards have been robbed and the money has not been left. The biggest possibility is that the magnetic stripe bank card was copied by criminals. On some websites, some people even openly peddle bank card replicators for magnetic stripe bank cards. "The technology of copying magnetic stripe bank cards is not complicated." According to industry insiders, only two conditions need to be met. One is to have special equipment to read the bank card information, and the other is to be able to obtain the password of the bank card. The equipment for making financial IC cards needs tens of millions, which greatly increases the cost and becomes a means to curb bank card crimes.

IC credit cards don't have to worry about magnetic stripe damage.

Magnetic stripe cards are easy to degauss and damage. Once damaged, the replacement fee will be charged at the bank. Compared with magnetic stripe card, chip bank card has another advantage that it is not easy to be damaged. Li Yu said that this can reduce the number of times cardholders change their cards and save some money.

Why IC credit cards have many advantages but can't be popularized immediately?

IC credit card involves technical upgrading, environmental transformation, bank card issuance of commercial banks, interest coordination and other issues. In the process of promotion, the central bank is only responsible for formulating industry standards. At present, most financial terminals, including ATMs and POS machines, only support magnetic stripe bank cards. The main new capital expenditure brought by IC card promotion to banks is about per card 15 yuan. The cost of dual-interface IC cards is higher than that of single-interface cards, and each card is about 20-25 yuan. But that popularity of IC credit card is the trend,

The central bank issued the Opinions of the People's Bank of China on Promoting the Application of Financial IC Cards, and decided to officially start the migration of bank card chips nationwide. The central bank said in its opinion that industrial, agricultural, China, construction, communications, investment promotion and postal savings banks should start issuing financial IC cards before the end of June 201/and all commercial banks in China should start from June 2013+01.20026.000000000106