OREANDA-NEWS. November 07, 2012. Hosted by Agriculture Bank of China Limited (“ABC”), and co-hosted by China UnionPay, the 2012 Financial IC Card Forum kicked off in Beijing. Nearly 200 guests attended the forum, including guests from the People’s Bank of China, the Ministry of Human Resources and Social Security, the Ministry of Health, China UnionPay, Industrial and Commercial Bank of China, Agriculture Bank of China, China Construction Bank, as well as industry representatives, experts, market veterans and media reporters, reported the press-centre of ABC.  

With a theme of “Intelligent Chip, Future Bank”, the forum gathered experts and scholars from the field of financial IC card. They analyzed the current status of financial IC card, discussed its future development direction, and explored effective solutions to the existing problems and development. Through communicating the current financial IC card industry both at home and abroad, the forum helped the idea of financial IC card win broad support and made it benefit the public.

Mr. Cai Huaxiang, Vice President of ABC, extended warm welcome to all the guests and appealed for joint effort in the society to facilitate the extensive application of financial IC card in China. On the forum, the speakers talked about the following five aspects: “Policy and Industry Dynamics of Financial IC Card”, “Prospect of Financial Social Security IC Card”, “Current Situation and Prospect of Residents Health Card”, “Innovation and Upgrade of Financial IC Card Product” and “Commercial Banks’ Advanced Experience in Promoting and Applying Financial IC Card”.

The speakers explained financial IC card’s development prospect, explicated its concept and value, displayed its achievements and pictured a blueprint. The forum produced rich contents and ideas with fruitful results, and won high recognition from all the guests. It is of great significance both for promoting the development of China’s financial IC card industry and for the sustainable and balanced development of our bank card industry.

In recent years, financial IC card business of ABC has gained substantial development and made great achievements. To date, ABC has cumulatively issued over 8 million IC cards, ranking at the top among the peers. Currently, it has issued standard debit and credit IC cards to satisfy customers’ daily financial needs. Moreover, it has also issued a variety of featured co-branded IC cards and themed cards, such as social security card, campus card, city transport card, travel card and etc., which are used in social security, ID authentication, public transport, leisure and entertainment. In the meantime, the dual-interface IC card issued by ABC can support small amount fast payment. It is a secure and convenient way to complete transactions just by “swiping” the card. As a big financial card issuer, ABC is playing a bigger and bigger role in widening the application of financial IC card.