Shopping consumption, transfer settlement, savings, micro-credit, installment payment, etc.

1. Shopping consumption

The consumption function is used to buy goods. When the cardholder pays more for goods and services than the balance of his credit card account in the process of shopping and consumption, the issuing bank allows the cardholder to make short-term overdraft within the prescribed limit. In essence, this is the consumer credit provided by the bank that issues credit cards to customers.

2. Transfer settlement

Transfer settlement, also known as "non-cash settlement" and "transfer settlement", refers to the monetary receipt and payment behavior of transferring money from the payer's account to the payee's account through the bank, which is mainly used for the receipt and payment of money between units due to commodity trading, labor supply and fund transfer. Transfer settlement is a form of monetary settlement.

it can be divided into settlement in the same city and settlement in different places. Its characteristics are: on the basis of bank credit, taking deposit account as the condition, replacing cash flow with bank credit income and expenditure.

3. Saving

Saving is a kind of deposit activity in which urban and rural residents deposit temporarily unused or surplus monetary income into banks or other financial institutions. Also known as savings deposit. Savings deposit is an important source of funds for credit institutions. Saving English: saving[ correct pronunciation]: saving money or things that have been saved or temporarily unused, especially putting money in the bank.

4. Microfinance

Microfinance is a part of the financial industry and a development tool. The meaning of microfinance can include financial services and social services. It meets the financial and social needs of families and enterprises that have never or rarely received formal financial services. Therefore, the main target customers of microfinance institutions are low-and middle-income families and micro-enterprises.

5. Payment by Installations

Pay by Installments is mostly used in some product transactions with long production cycle and high cost. Such as the export of complete sets of equipment, large vehicles, heavy machinery and equipment.

the method of installment payment is that after the import and export contract is signed, the importer pays a small part of the payment as a deposit to the exporter, and most of the rest will be paid in installments after the products are partially or completely produced and shipped, or when the goods are installed, commissioned, invested and quality guaranteed.