Cardholders can apply for compensation if they find abnormal transactions

In order to meet the fast payment needs of cardholders and merchants, China UnionPay and its member institutions formally launched the UnionPay card small exemption visa-free service at the end of 2015. When the cardholder makes a small amount of consumption of 300 yuan or less at the designated merchant (no more than 300 yuan in the territory, the local limit is subject to the local limit), only the UnionPay chip card or "Cloud Flash Pay" mobile device is close to the POS terminal sensing area. No need to enter a password and signature, you can complete the payment with one wave. At present, UnionPay credit card holders and chip debit cardholders of 69 banks including ABC, BOC, CCB, Bank of Communications, China Post, CITIC, China Everbright, China Merchants Bank, China Merchants Bank, Guangfa, Ping An, Pufa, Beijing, etc. can enjoy this. Service.

Is there a reliable guarantee of security while providing payment convenience? China UnionPay said that the service pays more attention to the use of card security, through a series of safeguards such as high-quality merchant screening, real-name verification, transaction limits, transaction monitoring, etc., so that cardholders can use the card with confidence. According to the data, the fraud rate of UnionPay card small exemption visa-free service has been only one part per million (0.02BP), which is far lower than the average level of domestic bank card fraud rate (2.36BP). This is due to the peace of mind payment environment and perfect safeguards.

It is understood that all the merchants that support the small exemption visa exemption are strictly selected and managed by well-known brands and chain stores nationwide and across the country, including China Resources Vanguard, Carrefour, Yonghui Supermarket (601933, shares), RT-Mart. Watsons, McDonald's, Starbucks, KFC, Pizza Hut, etc. China UnionPay, in conjunction with the acquiring institutions including commercial banks, has established a standardized daily trading monitoring mechanism for merchants to ensure that the card environment is safe and reliable.

At the same time, the small-value secret-free visa-free transaction is monitored by China UnionPay and the issuing bank for real-time risk monitoring. The system monitors the transaction characteristics, identifies suspicious transactions and immediately suspends authorization and other means of prevention and control, so that cardholders can pay more peace of mind. .

In addition, in order to protect the rights and interests of cardholders, China UnionPay and the Commercial Bank jointly provide special risk protection services for small-value, confidential-free users. Once the cardholder finds an abnormal double-free transaction, he can contact the issuing bank for compensation at the first time.

At present, there are more than 800,000 merchants who have opened the UnionPay card small-value exemption visa-free service, and the average monthly transaction growth rate is 55.75%. With the current hot launch of UnionPay's “Returning Cardholders' Consumption Season”, cardholders can feel at ease and enjoy peace of mind.