Small secret visa-free is a business developed based on high-security financial IC cards. For online transactions with a single transaction amount less than the specified limit, there is no need to skip the password keyboard check and print the signature of the shopping list. , to achieve the purpose of fast payment. The scope of application is limited to transactions initiated by IC cards or mobile devices carrying IC card information in the form of online flash payment.
At present, major international card organizations have launched small-scale secret-free visa-free business in many countries and regions around the world, and it has been widely recognized in practice. Major domestic mobile payment service providers have also launched related services. When the transaction amount is less than 1 000 yuan, users can make confidential payment. In order to meet the needs of market development, China UnionPay officially launched the small-sum double-exemption business on 20 15. At the same time, in order to ensure the safety of cardholders and enhance their confidence in using cards, China UnionPay has established a risk management and compensation mechanism. According to risk statistics, in 20 17 years, the fraud-free rate of small and double is only 0. 18BP, which is far lower than the overall fraud rate of bank card business in 20 17 years1.36bp.
Before the small double exemption limit was raised from 300 yuan to 1 1,000 yuan, China UnionPay had made careful arrangements in technical transformation, business rules, institutional cooperation, risk prevention and control, etc. In conjunction with issuing banks and acquiring member institutions, pilot projects will be carried out first. At the same time, China UnionPay explicitly requires all card-issuing banks to inform cardholders of the opening and cancellation of small-sum double-exemption business through business rules.
At present, the bank has informed the cardholders of the small double-free-limit withdrawal through official website announcement, card licensing regulations, mobile APP, WeChat official account, SMS, business outlets and other channels. In order to let more cardholders know about this business, China UnionPay has carried out various forms of market promotion with relevant banks, and distributed various publicity materials introducing the small-sum double-exemption business at various business outlets. And through the media channels commonly used by ordinary people, such as WeChat official account, we will strengthen the publicity of the small-scale double-exemption business of cardholders. At the same time, China UnionPay conducts training for major domestic commercial banks and large non-bank payment institutions.
In the next step, China UnionPay will further promote commercial banks to improve cardholder notification and accelerate the implementation of mobile banking client information push and account reminder.
In order to safeguard the rights and interests of cardholders, China UnionPay has adopted multiple safeguard measures:
Technical support. China UnionPay financial IC card and mobile devices supporting "UnionPay mobile phone flash payment" have high security and privacy. Through multiple technical support, there has never been a case of fake card fraud caused by the card or mobile device being * *. Cardholders can reduce security risks by properly keeping their IC cards and mobile devices.
The merchant is credible. At present, all businesses that support small-sum confidential visa exemption have undergone strict screening, and they are well-known brands or chain businesses in China and even the whole country. At the same time, China UnionPay and the acquiring institutions including commercial banks have jointly established a standardized monitoring mechanism for merchants' daily transactions to ensure a safe and reliable card use environment.
The quota is controllable. The transaction limit of confidential and visa-free service is uniformly set at 65,438 RMB+0,000 RMB. If this limit is exceeded, you need to enter a password to successfully trade. At the same time, banks have also controlled the cumulative exemption limit for one day (subject to the regulations of each card-issuing bank).
After the typhoon is controlled. China UnionPay and card-issuing banks conduct background risk monitoring on small confidential and visa-free transactions. By monitoring the characteristics of transactions, identifying suspicious transactions and other prevention and control means, the cardholder's capital security is guaranteed.
Compensation guarantee. In order to enhance the confidence of cardholders, China UnionPay has formulated and issued the Risk Compensation Scheme for UnionPay Card's Small Secret Exemption Business. Aiming at the loss of stolen brush caused by card theft and loss. To provide cardholders with card loss protection service 72 hours before reporting the loss. At the same time, the cumulative amount of compensation for a single person in one year is increased from 1 1,000 yuan to 30,000 yuan, effectively covering the potential risk losses of customers.