There is no limit. The password-free payment limit can be set to 200 yuan, 500 yuan, 800 yuan, 1,000 yuan, and 2,000 yuan. Small-amount password-free and signature-free payment means that small-amount payments can be completed without a password or consumer signature. Internationally, small-amount password-free and visa-free payments are already a mature payment method, and are also widely used in the domestic mobile payment field. It is a basic function enabled by bank cards by default. Previously, the limit for UnionPay’s small-amount password-free and visa-free business was set at 300 yuan.
Effective June 1, 2018, the single limit of UnionPay’s small-amount password-free and visa-free payment business will be raised to 1,000 yuan. On March 15, 2019, QuickPass bank cards were exposed at the 2019 China Central Radio and Television Station March 15 Party. The bank staff did not explicitly inform the bank staff about the password-free access for small amounts, so it was enabled by default. In April 2019, China UnionPay and Commercial Bank *** jointly launched a new round of notification services, providing a one-click switch function for small amounts to be free of charge.
If consumers are unwilling to use the small-amount password-free and visa-free payment function, they can turn it off at any time. Debit cards and credit cards issued to consumers by bank branches basically have the small password-free and signature-free and "Quick Pass" functions enabled by default, but if consumers want to turn off this function. You can contact the customer service of the bank where you issued the card to close it over the phone, or go to a bank branch to do it. In other words, to turn off this feature, cardholders only need to apply to the issuing bank of the bank card.
Conditions that China Merchants Bank needs to meet for small-amount password-free and visa-free transactions: 1. A financial IC card or mobile device with "Quick Pass" function is required, and the card payment method is adopted; 2. Single transaction The amount is below a certain amount (300 yuan (inclusive) domestically, and the local limit overseas); 3. The cumulative small amount password-free and visa-free transaction limit for the day is not exceeded (600 yuan); 4. The merchant supports UnionPay's small amount password-free transaction To sign, please see the UnionPay service website: www.95516.com for the list of merchants.
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The single limit of the UnionPay card's small-amount password-free and visa-free payment business (hereinafter referred to as small-amount dual-free) payment business is: RMB 300 is raised to RMB 1,000. For ordinary consumers, the small-amount password-free and visa-free business simplifies the payment process that originally required "inserting the card (swiping the card), entering the password, and signing" into "one interaction, one swipe to pay", and the transaction time is reduced from more than 10 seconds. shortened to about 3 seconds. On the other hand, the single limit of small-amount double-free payment has been increased to 1,000 yuan, which can meet the needs of fast payment for more daily consumption such as catering, gas, shopping malls, buying train tickets, hotel accommodation, etc. All merchants that support small-amount double-free transactions have been strictly screened. There are more than 2 million domestic small-amount password-free and visa-free merchants, all of which are well-known brands or chain merchants across the country and around the country. At the same time, safety is ensured through standardized merchant daily transaction monitoring mechanisms. reliable.