Bank card refers to a credit payment tool issued by commercial banks (including postal financial institutions) with all or part of the functions of consumer credit, transfer settlement, cash deposit and withdrawal, etc. Bank card reduces the circulation of cash and checks, which makes the banking business break through the limitation of time and space and undergo fundamental changes. The application of bank card automatic settlement system makes the dream of "no cheque, no cash society" come true. 20 12 the State Council agreed to the "draft regulations on the administration of credit information industry", which will be fully implemented on February 25th, 20 13, and the overall fee for credit card swiping will be reduced by 23% to 24%. 20 13 the people's bank of China recently issued the measures for the administration of bank card acquiring business, hereinafter referred to as the measures? . The Measures clarify the connotation of bank card acquiring business and the scope of application of the Measures, comprehensively standardize the risk management of acquiring institutions in terms of qualification examination, business inspection, transaction monitoring, information security and fund settlement, and put forward strict regulatory requirements.
There are nearly 3.4 billion magnetic stripe cards in the market that need to be replaced with chip cards. The cost of each chip card is about 10 yuan, and the replacement cost is tens of billions. The industry believes that the charging standard for changing the "core" needs further regulation by the regulatory authorities. In the process of replacing magnetic stripe cards with chip cards, some banks will charge consumers a certain cost, which will cause heated discussion in society. In this regard, China Consumers Association believes that bank cards should be replaced at their own expense. At present, the fees charged by banks for replacement cards are the same. Banks such as ICBC and Minsheng change IC cards for free, while other banks generally charge1from 0 yuan to 20 yuan. Some banks also claim that the highest charge for card replacement is 40 yuan. On June 1 2005, the Decision on Implementing the Access Management of Bank Card Clearing Institutions issued by the State Council came into effect. China bank card clearing market will be fully opened. International card organizations, domestic third-party payment institutions, banks and other qualified domestic and foreign institutions can participate in China's bank card clearing market.