Chip credit card, also known as (ChipCreditCard), is currently the most advanced credit card in the world. Its characteristic is that in addition to the traditional magnetic stripe identification system, it also uses a highly integrated chip as an information carrier, laying a solid foundation for the security and function expansion of credit cards. The principle of the chip card is to store the card owner's (depositor's) information in the smart chip on the card, making it difficult to copy the information in the card. It also has multiple transaction authentication processes, which can greatly improve the depositor's financial security.

Now major card issuers in Hong Kong and Taiwan are gradually updating from traditional credit cards to chip credit cards, and the domestic ICBC has also taken the lead in launching chip credit cards.

China UnionPay announced on the 29th that it would join hands with the Industrial and Commercial Bank of China to jointly launch the UnionPay standard Peony chip credit card in Shanghai. This is another UnionPay standard chip card product released in Shanghai following the issuance of Bank of Communications UnionPay Standard Pacific Smart Chip Debit Card and Expo Chip Prepaid Card. Cai Jianbo, executive vice president of China UnionPay, said that financial chip cards with multiple advantages such as higher security, larger card capacity, and more powerful functions have become the direction for the upgrading of bank card products in my country. The issuance of the UnionPay standard Peony chip credit card will help enrich and improve the bank card products serving the Expo, and also promote the upgrade of UnionPay cards to chip cards.