Because you don't need to enter a password and check your signature when you use an electronic cash account, you don't have to worry about the credit card limit when you pay with a bank ic, which greatly improves the transaction speed.
This is equivalent to loading an "electronic wallet" in addition to the traditional functions of credit cards. Cardholders can recharge their electronic wallets with cash, or sign up the money from the main account of the credit card and deposit it in the electronic wallet. Because the consumption of "e-wallet" is anonymous and not reported, it is mainly small consumption.
Extended data bank cards are divided into chip cards and magnetic stripe cards according to media types. In the past, the bank cards issued by commercial banks were mainly magnetic stripe cards, and ic credit cards were chip cards. The magnetic stripe bank card has the defects of small information storage and easy copying and forgery, while the financial ic card has stronger anti-copying and anti-theft ability, and because the storage medium is a chip, the IC card is like a microcomputer.
According to different communication modes, IC cards can be divided into contact, non-contact and dual-interface IC cards. In addition to all transactions supported by magnetic stripe cards, ic credit cards can also realize a series of extended functions, such as allowing cardholders to use offline without connecting to the banking system, making small quick payments in subway stations, buses and other places that need quick payment, and even realizing multi-purpose of one card in social security, medical care and other fields.
Magnetic stripe cards are easy to degauss and damage. Once damaged, the replacement fee will be charged at the bank. Compared with magnetic stripe card, chip bank card has another advantage that it is not easy to be damaged. Li Yu said that this can reduce the number of times cardholders change their cards and save some money.
Baidu encyclopedia -IC bank card