OREANDA-NEWS. June 19, 2014. ICBC has continued to innovate consumer payment products from the year to date, actively promoting “cool pass” card and other non-contact small and quick payment bank cards to meet demands of customers for convenient consumption and payment.

So far, the issuance volume of ICBC “cool pass” cards has exceeded 5 million to 5.18 million, up 36.8% from the beginning of the year. Meanwhile, equipment accepting non-contact quick payment by cards with the logo of China UnionPay have exceeded 2 million units nationwide, covering various industries including department stores, catering, cinemas, entertainment and supermarkets. Customers can use “cool pass” cards for consumption in these places. 

ICBC “cool pass” card is a non-contact small and quick payment card with PBOC2.0 standard chip. When making a small consumption, cardholders may gently wave the card before the sensor to complete the transaction. There is no need to swipe card and sign signature and cardholders can also set a password-free payment limit for consumption at RMB1,000 and below. Since its introduction in June, 2012, ICBC has launched dozens of “cool pass” card products, which are not only stylish in design, but also easy to carry to fully meet demands of youngsters today.

An executive with ICBC said that customers only need an ICBC credit card with China UnionPay logo to apply for “cool pass” cards at outlets of ICBC . “Cool pass” card is the supplement card of ICBC credit card. All payments via ICBC “cool pass” card will enter the account of credit card to which the “cool pass” card is attached and customers can pay for card bills according to the repayment rules of credit card.