What is Bank of China Credit Card UnionPay Cardless Payment?

Introduction to Bank of China Credit Card UnionPay Cardless Payment:

Credit Card UnionPay Cardless Payment means that the cardholder accesses the Internet through a self-service transaction terminal and does not use card reading. Enter the transaction elements on the interface and independently determine the consumer fund payment business initiated and completed.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses.

Is credit card cardless payment safe?

In recent years, e-commerce has been developing rapidly, and various convenient and fast operation methods have been introduced, such as credit card payment by phone and card-less payment, and credit card card-less payment is also used more and more frequently. The higher the value, this method only requires the credit card, validity period, and CVV code to complete the payment. Although it is convenient, many cardholders will worry about being used fraudulently. So is cardless payment with a credit card safe?

Reasons for questioning cardless payment:

1. The procedures for confirming transactions with customers are imperfect. For example, although some banks will send pre-authorization text messages to cardholders, they often fail to do so during settlement. The card owner will not be notified again.

2. The rights and interests of cardholders are ignored. Due to the close relationship between merchants and banks, banks will inevitably follow the instructions of merchants, not the instructions of cardholders.

3. Cardholders will inevitably question if the card-not-present payment service is opened without the cardholder’s consent.

4. The information verification procedure is simple, as long as the cardholder provides the information, validity period and CVV code, and is not limited to the cardholder himself.

5. If the security protection is insufficient and the cardholder’s credit card is stolen, the bank will not bear the loss of fraudulent consumption.

What should you pay attention to when using your card safely?

1. Pay attention to the CVV code

The CVV code is also called the last three digits, which are the last three digits on the back of the credit card. This code is generated by the encoding rules and encryption algorithm of the card issuer. When swiping a card, you only need to provide the CVV code to the bank, and the bank will assume that the merchant has obtained the cardholder's authorization, thereby allowing the transaction.

CVV code is extremely critical in offline transactions. Banks cooperate with qualified merchants. Merchants freeze part of the funds before cardholders make purchases. After the consumption is completed and the cardholders sign, the merchants can officially Deduct this part of the funds. The CVV code can be regarded as the second password, because in addition to ensuring offline payment, the "last three codes" also play a very important role in preventing your card from being cloned.

2. Pay attention to pre-authorization

Everyone should know about pre-authorization. When we usually book a hotel, if we use a credit card to guarantee the transaction, we need to use pre-authorization, which means the bank will freeze it first. A portion of the funds in your card will be transferred to the hotel upon check-out. This is a pre-authorization.

Credit card payments by many domestic airlines and booking websites do not require entering a password. As long as you provide the website with information such as validity period and verification code, you can pay through pre-authorization.

It should be noted that once pre-authorization occurs, the funds will be frozen for about a month. Therefore, the cardholder must either ask the merchant to cancel the pre-authorization when the transaction occurs, or use the same credit card to pay. Otherwise, the funds may be swiped again while the pre-authorization is still in effect. Cardholders should pay attention to their bills to see if there are any repeated deductions.

Credit card-less transaction guide: These are several methods to enjoy card-less consumption

In an era of rapid development of network information and rapid changes in electronic technology, all kinds of bank cards can basically be used Credit cards are no exception to cardless transactions. All banks have basically implemented cardless and electronic billing online consumption services for credit cards. This article will take stock of several main forms of credit card card-not-present transactions to help you have a more thorough understanding of credit card-not-present transactions.

The concept of credit card card-less transaction

The so-called card-less transaction refers to the payment made by the credit card holder through online transactions or electronic payment methods, rather than by swiping the card. Consumption.

The main methods of credit card card-not-present transactions

There are three main methods of credit card-not-present transactions:

1. Card-less withdrawals. The withdrawer does not need to bring a debit card, and can withdraw cash at the bank's ATM machine with the reservation withdrawal number provided by the system after a successful reservation in online banking or mobile banking;

2. Cardless payment in online banking. When purchasing items, you can directly use password protection measures such as payment password or U-shield to pay;

3. Pay directly without a card when shopping. This credit card-less transaction method does not require the use of a POS machine to swipe the card. It only needs to provide the validity period, "last three digits" and ID card information to complete the transaction. This payment method is commonly used by cardholders to book hotels, air tickets, or online. While shopping.

Cardless transactions with credit cards are fast and convenient, simplifying the transaction process, and it can be said that it facilitates our lives to a great extent. Of course, we cannot rule out the potential risks behind credit card-less transactions. Cardholders must make good use of the security measures of the trading platform and protect their assets when using this transaction method.

What does credit card (debit card) cardless consumption mean?

The inability of credit cards (credit cards) to consume means that the credit cards (credit cards) are bound to third-party payment software, and then rely on the software to complete the payment, so that consumption can be run even if the card is not around. In fact, credit card (debit card) cardless consumption is a relatively mainstream payment method. Since credit card (debit card) can be used for online and offline payments after being bound to a third-party payment software, it is more convenient than swiping POS machines. Consumption should also be convenient.

In addition, credit card (debit card) cardless consumption may have a limit set. When the payment reaches the limit, the user can only choose other methods to complete the payment.

What are the disadvantages of using a credit card to pay without a card? You will understand after reading this

Since the introduction of the cardless payment function of credit cards, many cardholders no longer carry their credit cards with them when going out. As long as they bind the credit card on their smartphones, they can swipe the card for consumption. Although it is very convenient to pay in this way, there are also many cardholders who are worried about paying without a card and are always worried about the disadvantages. Let’s take a look below.

1. What is credit card cardless payment?

As the name suggests, cardless payment does not mean holding a physical credit card to swipe the card for consumption.

As mentioned earlier, bind the credit card on a smartphone through third-party payment platforms such as UnionPay QuickPass, Alipay, and WeChat. When swiping the card, take out the phone to call up the binding. You can pay with your credit card. Or scan the QR code with your mobile phone and choose the payment method as the bound credit card to pay.

2. What are the disadvantages of using a credit card to pay without a card?

In fact, there are no disadvantages. Not only that, there are many benefits. For example, it is more convenient to use. You don’t have to take your credit card out, which avoids the risk of losing your credit card. You don’t have to worry about others picking up your credit card and then stealing it.

However, there is a disadvantage, that is, there are certain risks in paying without a credit card, especially if the smart device bound to the credit card is lost, the credit card may also be stolen. Therefore, everyone must ensure the safety of the smart device bound to the credit card, do not lose it, and do not give it to anyone else.

The above is the relevant introduction of "What are the disadvantages of card-less payment with credit card", I hope it will be helpful to everyone. In short, there are advantages and disadvantages to cardless payment with credit cards. This requires cardholders to decide whether to use it or not based on their own needs.

How to spend money without a credit card (credit card)?

Credit card (credit card) cardless consumption requires binding the credit card (credit card) with third-party payment software, such as binding Alipay, WeChat, UnionPay, etc. When using a third-party When paying with the software, switch the payment method to credit card (credit card), then you can complete credit card (credit card) cardless consumption. This payment method belongs to online payment. You use a credit card (credit card) to run online payment. Although the number of credit card (credit card) swipes will be accumulated, credit card (credit card) points will not necessarily be accumulated.

Some banks’ credit card (debit card) points must be accumulated by swiping POS machines, so users who are interested in points should not choose online payment.

This is the end of the introduction about credit card-less consumption and what is meant by credit card-not-card consumption. Have you found the information you need?