Does the UK use Bank of China credit cards to make purchases without a password?

Some overseas merchants do not require password verification, but some merchants require mandatory password verification. It is recommended that you complete the transaction password setting before going abroad. If you encounter a self-service terminal or merchant that requires a 4-digit password, please enter the first 4 digits of the transaction password.

The above content is for your reference, please refer to actual business regulations.

Why don’t you use a password when shopping on foreign websites using your credit card?

1. Credit is your password and should be kept properly. Chinese credit cards do not require a password, but given the domestic environment, it is still recommended that you use a password.

2. Foreign credit cards are for credit consumption, and merchants must confirm that the purchase is made by the person themselves before they can provide goods or services. If the credit card holder finds that he has not received services from the merchant and directly reports to the credit card company that "this purchase was not authorized by the cardholder", the credit card issuing company will return the money to you until the merchant finds a way to provide you with goods or services. Only with evidence can the money be redirected to it.

Chinese banks treat consumers as their grandchildren. They are colluding with unscrupulous merchants. They will not give you money just because you complain. They will give you money only if you provide proof. However, banks in developed countries such as the United States Legislation protects the weak.

The domestic credit card password is 6 digits. In some foreign countries, the credit card password is 4 digits, which is different from domestic. So you don’t need a password to swipe the card, you just need to compare the signature.

Why do you not need a password when using credit cards abroad?

The synergy of historical traditions and habits, the legal spirit of contracts and the social credit system.

The United States has a very long history of using credit cards. Credit cards appeared in the United States as early as 1950. For Americans, credit cards are a necessity in life, just like your mobile phone. When credit cards first appeared, there was no such thing as a POS machine. Everyone used signatures for verification, and this was how the habit was formed. You can recall that when we already accepted QR code payment, NFC contactless card swiping or mobile phone swiping was no longer attractive. This is the power of preconceptions and habits.

The United States is a contract society and attaches great importance to the contracts concluded. Even the establishment of this country is just a contract. Signatures have very high legal validity and recognition, and forging signatures will also face serious legal charges. Whether legally or in people's minds, signature is the highest recognition. Compared with our country, stamping is more recognized. All important documents seem to have to be signed and stamped, and fingerprinting is also some form of sealing. Therefore, Americans have already used the signature that they value most, so of course they don’t feel that they must enter a password.

European and American countries have mature credit systems, so don’t say you don’t enter your password. It’s also normal to take a train without checking your ticket. But if you are randomly checked or discovered, you will be in big trouble. A negative credit record may cause you to be unable to do anything, because good credit is needed in all aspects of society. If someone picks up someone else's card and uses it for consumption, it will be difficult to get away with it in the United States as long as they are discovered. So if your social system is very sound and you can use the card in the right direction, why go to the trouble of entering your password?

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Why don’t you need a password when using a credit card?

The reasons why credit card swiping does not require a password are as follows:

Everyone who knows credit cards knows that credit card payments in the United States can usually be completed with a signature. After the introduction of credit cards in China, this And bring credit card consumption with signature into the country. Many people consider avoiding password transactions and signing with a single stroke of a pen as "fashionable". And because some banks have launched "lost card protection" services for signature purchases, these cardholders wishfully believe that their credit cards can be protected and are more willing to use signature purchases. As everyone knows, these users do not understand why the United States uses signature for consumption, and the domestic card security environment is not suitable for using signature for consumption. Here’s a look at the story behind it.

Credit cards have been paper-based since their birth and do not have payment functions. They are only issued by the card issuer to the cardholder as a proof of identity for special merchants.

Although American Express first used plastic cards in 1959 to improve the fragility of paper cards, due to the fact that computer technology had not been widely used in the 1960s and 1970s, credit cards could not be used for online transactions on POS machines as they are today. Although the card press was invented later, it only changed the manual information recording into a mechanical recording method, eliminating the trouble of manual transcription. However, the credit card is also just a proof of identity, and the card grade is the difference between high and low credit.

In fact, the essence of a credit card from the beginning is to indicate the credit credentials of the cardholder. The signature serves as the cardholder's authorization and payment confirmation, that is, authorizing the bank to pay the amount within the cardholder's credit range. Payment to merchant. This has something to do with the importance the country attaches to signatures.

First of all, European and American countries attach great importance to the legal effect of signatures. In Europe and the United States, an individual's signature has strong legal effect, and the signature represents a person's legal attitude. For example, all kinds of documents and contracts are confirmed by signatures. There is no so-called "official seal" system in China. The so-called corporate seal is generally used only for organizational identification, and the validity is based on the signature seal.

Secondly, the United States uses a large number of personal checks, and checks also use signatures to confirm the holder's willingness to pay. It already has a complete signature authentication system. Therefore, after the emergence of credit cards, this habit of checks was also followed.

Third, the responsibility for signature recognition lies with the institution. Bank employees and merchants in Europe and the United States have a strong awareness of identifying signatures. Otherwise, if the signatures are obviously inconsistent, the institution is likely to be held responsible for theft, which makes the security risk control methods related to signatures relatively mature.

In the United States, the Truth in Lending Act (Truthin Lending Act) stipulates that if a consumer's credit card is used without authorization, the cardholder's legal liability is up to $50. Specifically, the credit card must be a card that the cardholder has accepted for use, the unauthorized use occurred before the cardholder notified the card issuer, and the card has been or may be unauthorized due to loss, theft or other similar acts. use.

It is precisely because the sound legal system in the United States provides cardholders with strong card security guarantees that card organizations such as VISA, MasterCard, and American Express, as well as card-issuing banks or institutions, are very strict in preventing fraud and fraud. The card transaction processing process is very complete. Cardholders do not need to worry about the card being stolen or stolen. If the card is lost or stolen, they only need to call the card issuer, and the card issuer will worry about the rest. More importantly, because the personal credit system is very complete, most people will not make fun of their own credit. Even so, for some large purchases, merchants still have to verify the cardholder by asking for proof of identity.

Precisely because of the sound credit card security protection, the migration of IC cards in the United States is not active. However, starting from October 1 this year, the U.S. government requires that all merchants’ POS terminals must support the EMV standard. Otherwise, when a credit card occurs, the merchant will bear the loss. The United States lags behind many other countries when it comes to bank card security. One reason is that magnetic stripe credit card cases were much lower in the United States than in other countries more than a decade ago.

At present, in the process of completing the migration of IC cards, foreign countries have begun to use the verification method of password signature for transactions. However, due to the deep-rooted traditional habits, even if the migration of IC cards is completed, it will only reduce the risk of theft of the card itself. The risk of credit card fraud and the risk of credit card theft and online payment cannot be prevented. In use, signatures are mostly used.

Why do domestic credit cards have passwords, but foreign ones do not? What is the secret behind this?

Foreign credit cards do not need to set passwords like domestic credit cards. This is because the service attitudes of banks are different in different countries. Basically, foreign credit cards only require your signature to make purchases, even for large purchases. The customer service staff of the credit card issuing bank will call the cardholder and ask if the purchase was made by you. If so there is no problem.

Foreign credit cards are a product based on credit consumption. You can use them for small purchases or large purchases, but large purchases will be monitored by banks. He is worried The customer did not use it for actual consumption, but cashed it out. This has an impact on the bank itself. As for how it affects it, it is too complicated to go into detail. In short, the bank does not allow customers to use it. If you use a credit card to withdraw cash, it can be used for consumption. Our domestic credit card.

Although the supervision is wrong, it is not that strict, and every transaction will not be verified with the customer.

For foreign credit cards, as long as it is confirmed that it was not the person who spent the money, the money will be withdrawn, which means that it will not enter the merchant's account until the merchant can provide effective evidence to prove that it was the cardholder who charged the money. , the money will be reallocated to the merchants. This is a battle between banks and merchants, but in our country, as long as the money goes out, it is not under the control of the bank. It is even more impossible to get the money back from the merchants, because you have already enjoyed the corresponding services, even if you are not the person. Therefore, our domestic credit cards must set a password. If you do not set a password, it will cause All economic losses will be borne by you.

The environment at home and abroad is different, and the way credit cards are treated is also different. Foreign credit cards are a very popular method, but in China we basically still use cash or mobile phones to pay. People who really use credit cards frequently Not much. People still think it is a kind of advanced consumption and are not particularly willing to accept it.

Why do Bank of China visa credit cards not require passwords and signatures for overseas purchases?

BOC VISA credit card overseas consumption usage rules:

Due to the complicated situation of overseas merchants, different countries have different acceptance equipment and encryption rules. Generally, the overseas VISA network acceptance method is only A signature is required.

The above content is for your reference, please refer to actual business regulations.

This ends the introduction on why foreign credit cards do not require passwords and why foreign credit cards do not require passwords. Have you found the information you need?