Shopping, transfer settlement, savings, micro-credit, installment payments, etc.

1. Shopping consumption

The consumption function is used to purchase goods. When the cardholder pays for goods and services that exceed the balance of his credit card account during his shopping and consumption process, the card-issuing bank allows the cardholder to make a short-term overdraft within the specified limit. Essentially, this is consumer credit extended to customers by the bank that issued the credit card.

2. Transfer settlement

Transfer settlement is also called "non-cash settlement" and "transfer settlement". It refers to the payment transactions that occur between units. They do not need to be settled in cash, but through banks. The currency collection and payment behavior of transferring money from the payer's account to the payee's account is mainly used for the collection and payment of money between units due to commodity transactions, labor supply, and capital transfer. Transfer settlement is a form of monetary settlement.

It can be divided into two types: intra-city settlement and remote settlement. Its characteristics are: on the basis of bank credit, with deposit accounts as conditions, bank credit receipts and payments are used to replace cash flow.

3. Savings

Savings are a deposit activity in which urban and rural residents deposit temporarily unused or surplus monetary income in banks or other financial institutions. Also called savings deposit. Savings deposits are an important source of funding for credit institutions. Introduction Saving in English: saving [correct pronunciation]: chǔ xù To accumulate money or things that are saved or temporarily not used, mostly refers to depositing money in a 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 households and businesses that have never or rarely had access to formal financial services. Therefore, the main target customers of microfinance institutions are low- and middle-income households and micro-enterprises.

5. Installment payment

Instalment payment (Pay by Installments) is mostly used in product transactions with long production cycles and high costs. Such as the export of complete sets of equipment, large-scale vehicles, heavy machinery and equipment and other products.

The method of installment payment is that after the import and export contract is signed, the importer first pays a small part of the payment to the exporter as a deposit, and the rest of the payment is paid after part or all of the product is produced, shipped, and shipped. Or repay in installments when the goods arrive for installation, commissioning, investment and the expiration of the quality guarantee period.