In recent years, ICBC has innovated payment products by leveraging its technological strengths. It has stepped up efforts to promote and apply the non-contact small quick payment bankcards like the Cool Pass Card. The trendy financial product tailored to customers’ needs has been well received among young consumers in particular. As at the end of 2014, as many as 8.5 million ICBC Cool Pass Cards have been issued, doubling the figure in 2013.

According to an official with ICBC, the Cool Pass Card, a non-contact small quick payment bank card, is a supplementary card of the credit or debit card. The Card offers convenient and safe user experience.

The Cool Pass Card is very easy to use, requiring no card swiping or signature by card holders. Card holders only need to place the Cool Pass card in front of the sensor. The card can be used on all non-contact quick payment equipment with the logo of UnionPay, which is easily seen in department stores, catering spots, cinemas, entertainment facilities and supermarkets. Notably, ICBC has initiated the non-contact payment platform at the McDonald’s where the customer can dispense with cash or changes to buy hamburgers and easily make payment with the Cool Pass Card without bothering to enter the password or sign the receipt. At present, this service is available in more than 900 outlets of the McDonald’s across the country.

The card is safe to use. As a supplementary card of ICBC credit or debit card, the Cool Pass Card is used on special POS equipment. After consumption the disbursement is directly entered into the customer’s master account. With payment limit set at RMB 1,000, the safety of the large-amount fund is ensured during quick small-amount payment.

Moreover, it offers satisfying experience for card users. The Cool Pass Card, novel and dainty, is easy to carry along, with tens of stylish shapes to choose from, which meets customers’ demand for participation and interaction. Any customer having ICBC credit card or debit card may go to ICBC outlets to apply for the Cool Pass Card. In addition, ICBC has continued to enrich product functions for an increasing number of platforms. For example, ICBC has launched a non-contact irregular-shape chip card with electronic cash functions by incorporating the functions of Shenzhen Transit Card into the Cool Pass Card so that the card holders can easily travel in Shenzhen and take the Guangzhou-Shenzhen train. Shenzhen citizens can use it for travel by public transportation including subway, bus and minibus with the logo of Shenzhen Transit. Customers who take the Guangzhou-Shenzhen CRH Harmony bullet train can swipe the card and go into the station, without having to queue for train tickets. In Wuhan, ICBC has incorporated the functions of Wuhan Access Card into the Cool Pass Card. With that, people in Wuhan can take subway and other public transportation or make small payment in department stores, supermarkets and convenience stores.