What is a Bank Card?

Bank card refers to a credit payment tool with all or part of functions such as consumer credit, transfer settlement, and cash deposit and withdrawal issued by commercial banks (including postal financial institutions) to the society upon approval. Bank cards have reduced the circulation of cash and checks, and banking operations have broken through the constraints of time and space, and fundamental changes have taken place. The use of the bank card automatic settlement system has made this dream of a "checkless, cashless society" a reality. ^[1]

Bank card

Since the 1970s, due to the rapid development of science and technology, especially the use of electronic computers, the use of bank cards has continued to expand. Not only reduced

On February 12, 2015, the 2014 payment system operation report issued by the People's Bank of China showed that as of the end of 2014, the country had issued 4.936 billion bank cards, an increase of 17.13% over the end of the previous year. Among them, a total of 4.481 billion debit cards were issued and 455 million credit cards were issued. Data show that, as of the end of 2014, the country's per capita bank card holdings were 3.64, an increase of 17.04% over the end of the previous year. For details, please refer to the "Foreseeing China Bank Card Industry In-depth Research and Development Prospects Analysis Report". Among them, 0.34 credit cards were held per capita, an increase of 17.24% over the end of the previous year. The per capita possession of credit cards in Beijing and Shanghai is still much higher than the national average, reaching 1.7 and 1.33 respectively. According to the report, the scale of credit cards in China has increased moderately, and the utilization rate of credit has continued to rise. As of the end of 2014, the total amount of credit granted to credit cards was 5.6 trillion yuan, a year-on-year increase of 22.5%. The average credit line of credit cards is 123,000 yuan, and the credit utilization rate is 41.69%, an increase of 1.4 percentage points from the end of the previous year. The total outstanding credit card credit card overdue for half a year was 35.764 billion yuan, an increase of 10.572 billion yuan or 41.97% over the end of the previous year. ^[13]

The process for applying for a credit and debit card is different. When applying for a credit card, you need to bring your valid ID (identity card or photo ID) and proof of residence

1. Pay attention to block by hand when entering the password, if found

From June 1, 2015, the "Decision on Implementing the Management of Access to Bank Card Clearing Institutions" issued by the State Council came into effect. This means that China's bank card clearing market will be fully opened. In the future, international card organizations, domestic third-party payment institutions, banks and other qualified domestic and overseas institutions can participate in China's bank card clearing market, enhance market bank clearing service levels in China through market competition, and accelerate the reform, opening up and innovation of the payment service market. Transformation. ^[17]

On March 17, 2016, the central bank cracked down on ordering the bank card acquiring market. According to reports, in order to standardize the bank card acquiring outsourcing business, purge the bank card acquiring market order. In the early stage, the People's Bank of China launched bank card acquiring nationwide. Special spot checks on outsourcing business.

The spot check lasted for 2 months, and it covered 57 banks and payment institutions. According to the spot check plan of Unified Deployment, Hierarchical Implementation, Standardization of Business, Highlighting Key Points, the head office of the People s Bank of China adopted a combination of direct flight inspections and branch-owned territorial inspections, with standardized outsourcing and cracking down on the Second Clearance as its core. Opening trading interfaces and subcontracting for multiple violations were severely cracked down and investigated. The decisive action of the People's Bank of China allowed the market irregularities to significantly converge, and the market order for bank card acquisitions has greatly improved. ^[18]