What are the credit card payment methods?

Currently, the main payment methods for credit cards on the market include POS machine payment, third-party binding payment, UnionPay quick payment, and mobile payment.

1. Pay by swiping the card at the POS machine

This traditional credit card consumption method allows you to complete the payment by swiping the card through the POS machine, entering the password and signature. This type of payment is generally completed through UnionPay centers. The hand-swipe machines currently on the market are also traditional POS machine channels.

2. Third-party binding payment

This method is now the most popular. It binds credit cards to third-party payment platforms and completes payment settlement by scanning QR codes. Nowadays, payment methods such as WeChat and Alipay are used more frequently, and third-party channels are used.

3. UnionPay Quick Payment

Unlike online payment, UnionPay Quick Payment does not need to be bound to any platform. You only need to enter your credit card, account name, mobile phone number, and security on the payment page. code and other new information, and then send a dynamic password. If you enter it correctly, you can pay successfully. This is usually done through the UnionPay channel.

4. Mobile payment

Currently, mobile payment is also a relatively popular method. Currently, Applepay, Huawei pay, Xiaomi pay, etc. are available. Taking Applepay as an example, the credit card is first bound to the mobile phone. When the user makes a purchase, the mobile phone and Cloud Quick Pass function are turned on, and payment is made through NFC at POS terminals and other terminals. [img]

What are the characteristics of credit card payment methods?

The characteristics of credit card consumer credit: ① Revolving credit limit. my country's card-issuing banks generally grant cardholders an interest-free period of 20 to 56 days, and the maximum credit limit for cardholders is generally RMB 50,000. ② It has the nature of an unsecured and unsecured loan. ③There are generally minimum repayment requirements. 10④ of the amount due is usually short-term, small-amount, and unspecified credit. ⑤ In addition to credit loans, credit cards also have functions such as cash deposits and withdrawals, transfers, payment settlements, collections and payments, deposits and withdrawals, cash limit withdrawals, and online shopping.

The four modes of credit card payment are as follows:

1. Credit card payment without security measures: The basic process of credit card payment without security measures is: consumers order from merchants, credit card information Transmissions are made over the Internet via telephone, fax, etc., but there are no security measures. Merchants and banks use their respective existing authorizations to check the legitimacy of the credit card. Insecurity includes two aspects. One is that the transmission of credit card information is unsafe, and the other is that merchants may not be able to get the payment after paying for the goods.

2. Payment through a third-party broker: Payment is completed through a third party trusted by both parties; credit card information is not transmitted multiple times on the open network, and the buyer may open an account with a third party offline, so The buyer has no risk of his credit card information being compromised; the seller trusts the third party, so the seller has no risk; the buyer and the seller obtain some kind of agreement from the third party in advance, that is, the buyer opens an account with the third party and the seller becomes the third party's special merchant.

This method has high requirements for the impartiality, credibility and operating standards of the third-party agency, and the main risks are borne by the third-party agency. Although this method improves the security of payment, it also reduces the efficiency of payment. It is still lower and the cost is higher. It is also a transitional method when using credit card payment and settlement in the early stages of e-commerce development.

3. Simple credit card encrypted payment: When paying using the simple encrypted credit card mode, when the credit card information is entered by the buyer into a browser window or other e-commerce device, the credit card information is simply encrypted and securely used as encrypted information. Passed from buyer to seller over the network.

4.SET credit card payment: SET is the abbreviation of Secure Electronic Transaction. It is an open, electronic payment protocol standard based on electronic money established for online transactions on the INTERNET. SET's security measures mainly include: symmetric key system, public key system, message digest, digital signature, digital envelope, double signature, authentication and other technologies.

How to set the consumption mode of China Everbright Bank

The consumption mode of China Everbright Bank Smart Business Credit Card is as follows:

Customers applying for China Everbright Bank Smart Business Credit Card can go to the "Daily You can freely choose the consumption method between "billing" and "monthly billing". Billed on a daily basis, that is, borrowing and lending at any time and repaying at any time, customers can enjoy consumer credit services for up to 60 days. For customer overdraft transactions, interest will be charged at a daily interest rate of 0.5% from the transaction date.

There is no interest-free repayment period and no minimum payment amount. Monthly billing means that all consumer transactions of the customer are automatically amortized, and the customer repays according to the agreed number of periods. Cardholders can choose from a variety of periods from 1 to 12. The bank will charge customers corresponding proportions of handling fees according to different periods. There is no interest and no minimum repayment amount.

That’s it for the introduction of credit card consumption patterns.