OREANDA-NEWS. March 14, 2014. By continuing to step up efforts to extend chip card application and optimize acceptance environment, ICBC has strongly driven the penetration and utilization of chip cards in 2013. As at the end of 2013, ICBC has issued nearly 130 million chip cards,  representing an increase of over 73 million, or 134% from a year earlier. Last year, ICBC chip card consumption exceeded RMB 1.85 trillion, up by nearly RMB 1 trillion or 113% from a year earlier. Chip card based consumption has surpassed 30% of all card consumption within the bank.

Chip cards’ strength in safety, convenience and cross-sector application has made itself a trend for future financial consumption. To meet customers’ demand in card consumption ICBC has continued with product and service innovation by expanding card using environment, enriching product functions and optimizing card service. By promoting chip card products and services in environment-friendly application, utilities and day-to-day consumption, ICBC has seen a comprehensive line of chip card products, significantly boosting the development of livelihoods and upgrading of household consumption.

ICBC chip cards are now widely used in various fields covering transportation, airlines, energy, healthcare, commerce, tourism, telecommunication, schools, companies, social security, and Urban All-in-One Card, significantly facilitating people’s everyday life. The financial IC card issued with Guangzhou-Shenzhen Railway, for example, enables cardholders to swipe onto the train instead of lining up for tickets. ICBC has rolled out Medical Card with multiple hospitals in China to offer integrated services including medical appointment, payment, medical treatment, recharge and refund. The Medical Card has played a positive role in mitigating the enduring inadequacy of medical services. The multi-function advantage of chip cards is highlighted in the Peony Love Shopping Card issued by ICBC in Shenzhen, which combines various functions ranging from retail merchant membership, railway application to mobile payment, transport payment and livelihood application.

ICBC has also launched multiple chip card products supporting offline payment to meet the rising demand for easy payments in China. ICBC chip cards can be used at merchants (department stores, supermarkets, restaurants, cinemas, entertainment venues, highways) that accept non-contact payment, allowing for signature-free card-swiping consumption. For example, ICBC Cool Pass Card is a uniquely-shaped chip card that supports small fast payment when cardholders may complete transactions by putting Cool Pass Card onto the sensor without entering PIN or signing bills.

According to an ICBC executive, the bank will continue to improve customer service and provide easier-to-use, safer and more available chip card products by leveraging the leadership in R&D, industry partnership, product innovation and customer base.