Why is the Agricultural Bank of China Global Business Travel Credit Card still a magnetic stripe card?

The Agricultural Bank of China Global Business Travel Credit Card is still a magnetic stripe card because there is a VISA card account on it. Now all new cards in China are chip-based. Stuck.

Why do Agricultural Bank of China credit cards only have magnetic stripes?

This is due to the high cost of IC cards and the delay in replacing domestic credit cards with chip cards (EMV migration). However, according to the deployment of the central bank, in 2015 Starting from New Year's Day, commercial banks will no longer issue pure magnetic stripe cards and will replace them with financial IC cards that have both magnetic stripes and chips.

Financial IC cards, also known as chip bank cards, are bank cards that use chips as the medium. The chip card has a large capacity and can store information such as keys, digital certificates, fingerprints, etc. Its working principle is similar to a microcomputer and can handle multiple functions at the same time, providing cardholders with the convenience of one card for multiple uses.

Financial IC cards are issued by commercial banks (credit unions) or payment institutions. They use integrated circuit technology and follow national financial industry standards. They have all or part of the financial functions of consumer credit, transfer settlement, and cash deposits and withdrawals. , a financial instrument that can have other business services and social management functions.

The credit card just sent by Bank of Communications is a magnetic stripe card, not a chip card. What’s going on?

They are all used the same way. Maybe it’s a Puka magnetic stripe card! Gold cards are chip-based. But it doesn't matter.

This ends the introduction on why credit cards are still magnetic stripe cards and why credit cards are still magnetic stripe cards. Have you found the information you need?