In China, although banks have gradually started to offer chip cards in recent years, few people really know what a chip card is.
Chip cards are an advanced alternative to magnetic strip cards. Also called smart cards or integrated circuit cards, chip cards have a unique identifier and digital seal that cannot be copied and put on to another card.
Li Dongrong, Deputy Governor of the People's Bank of China says chip cards are much safer and can perform multiple functions.
"The chip cards will enhance transaction security in China and provide a safe transaction tool for cardholders."
Since last year, the People's Bank of China and China UnionPay have started chip card trial operatio
