The question of whether to use electronic cash when swiping a China Merchants Bank credit card means that there is money in the electronic account of the credit card. This consumption can be made by swiping the card using the money in the electronic account. It is up to the cardholder to decide whether to use it.

Electronic cash accounts have the functions of fast payment, contact and non-contact consumption, and are small-amount payments. In addition to credit card accounts, some chip (IC) cards of card issuers also support electronic cash accounts.

Electronic cash accounts have all or part of the functions of electronic cash account transactions such as small-amount fast payments, balance inquiries, and recharges, but do not have other payment and settlement functions such as overdrafts, transfers, and cash withdrawals. Electronic cash accounts are anonymous, do not report losses, do not accrue interest, and do not provide statements. Unless otherwise specified, all transactions described in this Article are credit card account transactions.

Extended information:

Electronic cash account transactions do not require password verification and identity verification, and transaction vouchers do not require cardholder signature confirmation. All electronic cash account transactions are deemed to be transactions by the cardholder himself, and any liability arising from electronic cash account transactions shall be borne by the cardholder.

The loss report will take effect after it is confirmed by the card issuer. All economic losses incurred before the loss report takes effect and all economic losses incurred in the electronic cash account before and after the loss report takes effect will be borne by the cardholder (the unit applying for the unit card) Unless otherwise agreed between the cardholder and the card issuer.

The card issuer does not charge interest on the deposits in the cardholder's credit card account, unless otherwise agreed between the card issuer and the cardholder; for credit cards that support electronic cash accounts, the balance of the electronic cash account does not calculate deposit interest. .

Baidu Encyclopedia - Electronic Cash

China Merchants Bank - China Merchants Bank Credit Card Regulations (Ninth Edition)