Lin Xiaoxuan, Chief Information Officer, Industrial and Commercial Bank of China
In order to fully implement the requirements of the People's Bank of China "People's Bank of China's Opinions on Promoting the Application of Financial IC Cards", ICBC has formulated a detailed chip card development plan. From July 1, 2013, the financial IC card will be fully issued, the card issuance requirements for the above comments will be completed in advance, and the acceptance environment will be fully upgraded and improved to speed up the deployment of POS devices with contactless readers.

Accelerating the development of financial IC cards is the need to implement a conservation-oriented society, the need to prevent bank card fraud risks, and the need for ICBC's strategic transformation. Replacing traditional magnetic stripe cards with chip cards will be a new blue ocean for the development of bank card value, and is also a major trend in the development of the global bank card industry.

Over the years, ICBC has paid great attention to the development and application of chip card technology at home and abroad, and actively participated in the formulation and improvement of the PBOC2.0 standard organized by the People's Bank of China. He undertook research on the subject of "Double ID Card Impact on Financial IC Card Promotion Work" and participated in the research and development of "Mobile Terminal Near Field Payment Technology Standard System". At present, the transformation of various ATM equipment, common POS equipment and merchant MIS financial controllers has been basically completed. ICBC also built a four-in-one risk management platform for audit operation system, post-loan management system, risk real-time monitoring system and risk automatic warning system, and established a comprehensive risk management system for bank card business. We closely integrate the financial IC card business with the ICBC customer development strategy, adhere to the social responsibility of the Bank, and make the green card, the people's livelihood project, promote consumption, lead fashion and convenience as the priority development chip card.

The rapid development of chip cards has benefited from the development of China's economy. Thanks to the rapid development of the entire bank card industry, thanks to the strong promotion and support of the People's Bank of China, it has also benefited from the vigorous expansion of China UnionPay's payment system. The industry standard issued by the People's Bank of China, "China's Financial Integrated Circuit (IC) Card Specification", has laid a standard foundation for China's bank card chip, ensuring the commonization and security of China's bank card chip, and promoting the development of China's IC card.

A complete acquiring environment is the basis for the development of chip cards, and industry cooperation is the direction of chip card development. We believe that in the rapid development of chip cards, we must effectively prevent disorderly competition and blind card issuance, so that the number of card issuance is compatible with risk management capabilities and internal control. At the same time, it is necessary to standardize the chip card acceptance market, clarify the responsibilities, rights and obligations of the participants, improve the service system, and improve the service level. All banks should speed up the progress of the acceptance of equipment, jointly create a good card environment, vigorously promote the use of chip cards, promote the upgrade of magnetic stripe cards to chip cards as soon as possible, and improve the security of bank cards. It is recommended that the supervisory department should promote the transformation of financial IC cards in various banks, coordinate and solve major problems encountered in the promotion of financial IC cards, organize the formulation of incentive measures such as risk transfer policies and subsidy mechanisms, give more preferential policies to the issuing banks, and vigorously promote financial ICs. Cards are more widely used in the field of public services and are more deeply integrated with urban informatization. Further promote the financial IC card publicity work, guide the public to understand, familiar with and actively use financial IC cards to create a good development environment for financial IC cards.

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