There are various verification methods for credit cards, and some cards do not have passwords. This is mainly reflected in two verification methods:

First, the verification method that relies on signatures. In this case, there is no need to enter a password during the consumption process, but if fraud occurs, consumers can apply for an audit from the merchant and use their signature as the basis for identification to request a chargeback or refund. In order to protect your own rights and interests, it is recommended to keep relevant copies or photos and record the signature sample of your credit card so that it can be used as evidence when necessary.

Secondly, although most banks allow consumers to choose whether to set a consumption password, once enabled, it is equivalent to admitting that any transaction using the password is personal behavior. This means that if your password is leaked, fraudulent transactions made by others using your password will be considered your personal behavior, and banks and merchants are generally not responsible for this. Currently, Chinese banks (such as China Construction Bank, ICBC, Minsheng, etc.) require passwords, while banks such as Guangfa and China Merchants provide password-less options.

It is worth noting that, as a modern financial tool, bank cards not only have functions such as consumer credit, transfer settlement, and cash deposits and withdrawals, but also greatly facilitate people’s lives. Through the automatic settlement system, it is expected to realize A cashless, checkless society. When enjoying the convenience of credit cards, it is particularly important to properly manage password and signature verification.