I don't know if my friends have found that many credit card holders spend credit card spending at some merchants. They only need to pull out the mobile phone or a credit card with a chip to touch the POS machine. You can complete the transaction without signing and entering a password. This is actually a small amount of confidentiality-free visa-free service using credit cards. So what is this small-value secret-free visa-free service? Which credit card supports the small exemption visa exemption when the pos machine is swiping?
First of all, let's talk about what is a small exemption visa:
The small exemption visa exemption is a small amount of fast payment service provided by China UnionPay for cardholders. When the cardholder uses the financial IC card with the “flash payment†function, when the designated merchants make a certain amount (300 yuan in the territory, the local limit is subject to the local limit) and the following transactions, the card or mobile device only needs to be close to the POS. The machine can accept the "flash payment" sensing area "swing card" of the terminal, and the payment can be completed. You will not be required to enter a password or sign during the payment process.
So which bank cards support small exemption visa exemption?
The card is a UnionPay financial IC card with a "flash payment" function. The card number starts with "62" and has the UnionPay logo and the "Flash Pay" logo. The cardholder can judge whether the card face has a "flash payment" logo. If the cardholder is not using a traditional card, but a mobile device with a "flash payment" function, it can also support a secret-free visa-free.
Then, after the digital currency is issued, what are the natural advantages of the UnionPay flash card?
The digital currency of our national central bank is issued and regulated by the monetary authorities, which is centralized, which makes the monetary authorities have a natural advantage in issuing central bank digital currency.
First, the central bank's digital currency has national credit support and is more easily accepted by society. The central bank's digital currency is a new form of sovereign currency, with the same legal and mandatory nature as sovereign currency. Therefore, society can use the central bank digital currency just like the existing sovereign currency, without re-pricing the central bank digital currency, and it is more easily accepted by society. However, various private digital currencies do not have national credit support, and prices tend to fluctuate. In the process of use, they need to be re-priced in real time. This is why private digital currencies are not widely accepted by society.
Second, the central bank's digital currency is more conducive to improving the liquidity of the economic system and reducing transaction costs. Each private digital currency has its own system settings, and exchange and compatibility issues between systems, which actually increases the complexity of economic transactions. In contrast, the central bank's digital currency with national credit support adopts a unified system standard, and the increase in transaction convenience will increase the total transaction volume, thereby improving the liquidity of the entire economic system.
Third, the central bank's digital currency has the monetary authority as the lender of last resort, and it is not easy to have a currency run crisis. Like other forms of sovereign currency, the monetary authority is the lender of the central bank's digital currency, providing protection for monetary stability. Private digital currencies do not have a final lender. Once a risk event occurs, money providers and trading platforms are prone to currency run-up crisis.
Fourth, the central bank's digital money supply is regulated by the monetary authorities to meet the needs of modern economic development. Unlike private digital currencies, once the central bank's digital currency is issued and used, the monetary authorities will adjust the central bank's digital money supply according to the needs of economic development, thus maintaining the applicability of the central bank's digital currency, which is conducive to the development of the modern economy.
Fifth, the monetary authorities can use the central adjustment mechanism to maintain the stability of the central bank's digital currency, so that the modern economy can maintain normal operation. A prerequisite for a currency to act as a measure of value and a means of circulation is that value is relatively stable. Moreover, economic fluctuations are often accompanied by fluctuations in the value of the currency, so maintaining currency stability is also a necessary condition for maintaining the normal operation of the modern economy.
Sixth, the monetary authorities will enhance the security of the central bank's digital currency through technical means and protect the legitimate rights and interests of consumers. In contrast to private digital currencies, the central bank's digital currency will guarantee the security of digital currency users through cryptographic algorithms, and establish a controllable anonymity mechanism through technical means to achieve traceability under certain conditions to further enhance the security of the central bank's digital currency. This protects user transaction security.
In summary, the innovation of the central bank's digital currency is to adapt to the development of the situation, keep pace with the times, retain the control of monetary sovereignty, and better serve the currency issuance and monetary policy, not just to replace the cash flow of banknotes.
So what kind of trading situation is exempt from visa-free?
1) Using the card payment method, the IC card is close to the POS “flash payment†sensing area (ie “swing cardâ€), and the card-free or card-free method does not support the implication.
2) The amount of a single transaction is below a certain amount (inclusive) (300 yuan in China, and the local limit is subject to overseas);
3) Compliance with the risk control requirements of the issuing bank, for example, no more than the limit of the exempted visa-free transaction on the day, which is subject to the issuing bank regulations.
Our country will be the first country to issue digital currency by the central bank. The issuance of digital currency and flash card can be said to complement each other. When UnionPay was implementing the Flash Card, this was a prelude to the release of the nation's major digital currency. In the future, friends are more likely to go out with only one ID card, and then the personal comprehensive bank account number and credit card number are tied to the ID card. Such a purely digital era will not come in more than 10 years. At the same time, in the digital age, it is more important to learn the protection of personal privacy information and the security of digital account funds. Only by learning self-protection can we better facilitate consumption and fast consumption.
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