This week, China Industrial and Commercial Bank of China announced in Beijing that it has officially launched a wealth management account chip card and an ICBC chip platinum card (UnionPay standard) which meet the PBOC2.0 standard of the People's Bank of China. The ICBC chip platinum card issued by ICBC this time is an ICBC credit card, which will be issued simultaneously for the whole country from now on; The chip card of the wealth management account is a debit card, which was issued in advance in 15 branches in Beijing, Shanghai, Guangdong, Jiangsu and Zhejiang, and gradually spread to the whole country. What's the difference between a chip bank card and an ordinary bank card? Chip bank card is a bank card with chip as the medium. According to reports, the chip card has a large capacity and can store keys, digital certificates, fingerprints and other information. Its working principle is similar to that of a microcomputer, which can handle multiple functions at the same time, providing cardholders with the convenience of using one card for multiple purposes. In addition to the payment function, the chip card can also integrate other functions and applications in different fields, such as discount points, identity authentication, building access control management, transportation payment or medical information storage. 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, and read the chip when the acceptance point is available, and read the magnetic stripe at other acceptance points, just like the traditional magnetic stripe card. This time, ICBC launched a magnetic stripe chip composite card. The relevant person in charge of ICBC said that the promotion of chip cards to wealth management accounts and platinum card customers is mainly to provide customers with higher quality financial services. At present, customers not only do not charge any extra fees for handling these two kinds of chip bank cards, but also enjoy various preferential financial services provided by ICBC and a series of preferential policies such as deposit and withdrawal in different places and loss reporting of remittances, while platinum card customers can enjoy various value-added services such as airport VIP room service, aviation accident insurance, fee reduction and exemption.