Financial IC cards are issued by commercial banks (credit cooperatives) or payment institutions, adopt integrated circuit technology, follow the national financial industry standards, and have all or part of financial functions such as consumer credit, transfer settlement, cash deposit and withdrawal.
This card can be a financial instrument with other business services and social management functions. There are two chip card standards in the market, one is the EMV standard widely used in the world, and the other is the PBOC2.0 standard of the People's Bank of China.
Extended data:
Financial IC card is also a chip bank card, and chip cards are divided into pure chip cards and magnetic stripe chip composite cards according to media types. Among them, the pure chip card takes the chip as the only transaction medium and can only be used at the acceptance point with chip reading equipment.
The magnetic stripe chip composite card can support both the chip and the magnetic stripe, read the chip at the acceptable acceptance point and read the magnetic stripe at other acceptance points, just like the traditional magnetic stripe card.
Financial IC card is a highly integrated tool of modern information technology and financial services. Using chip technology and financial industry standards, it can have many functions such as bank card, security card and management card, and has the advantages of safety, convenience, standardization and expansibility.
After repeated argumentation, the central bank implemented the strategy of transferring bank cards from magnetic stripe cards to financial ic cards, showing a good development momentum. Industrial and Commercial Bank of China, Agricultural Bank of China, China Bank, China Construction Bank, Bank of Communications, Postal Savings Bank and some national joint-stock commercial banks and city commercial banks have started to issue financial IC cards.
Baidu encyclopedia-financial IC card