In 2014, ICBC continued to beef up chip card issuance, expand the application of chip cards, and improve the environment for card acceptance. Statistics show that by the end of 2014, ICBC had issued a total of nearly 230 million chip cards, up by 100 million or 77% versus the previous year. In the same year, consumption with ICBC chip cards amounted to over RMB 3.14 trillion, up by RMB 1.29 trillion or 70% compared with the previous year. Meanwhile, the share of chip bards in total consumption via ICBC’s bank cards exceeded 40 percent.

According to an ICBC official, compared with the traditional magnetic-stripe cards, chip cards are more secure and easier to use with wider applications, and have become the future trend of financial consumption. Since the first half of last year, the Bank has stopped issuing new debit cards with magnetic stripes, though the existing magnetic-stripe cards remain in use. If customers holding debit cards with magnetic stripes want to replace them with chip cards, they can apply at designated outlets with valid ID cards and the original debit cards. For the convenience of customers, ICBC has optimized the debit card replacement service, which requires no change in card numbers. Currently, around 90% of its debit cards can be replaced without card number changes.

In terms of the application of chip cards, the Bank has continued to implement product and business innovation by focusing on customer demand in card-based consumption, which has contributed to social development, public benefits and consumption upgrading. So far, ICBC's chip cards have found extensive application in various sectors including transport, aviation, energy, medicals, commerce, tourism, telecommunications, schools, enterprises, social security and urban all-in-one card systems. Global Travel All-Currency Chip Credit Cards, for example, allow customers to be unconditionally exempted from currency conversion fees, no matter what currency is used locally, when using these credit cards overseas. In addition, the Bank has worked with multiple hospitals nationwide to launch medicare cards, integrating medical and financial service functions such as registration, payment, diagnosis and treatment, top-up and refund, and facilitating cardholders to see doctors and register at hospitals.

Meanwhile, ICBC has developed and launched a number of chip card products for offline payment, and put them into use in merchants that support non-contact payment, such as department stores, supermarkets, cinemas, entertainment and highways. Customers can make payment simply by placing cards near the POS terminal, with no need for signature. For example, the ICBC Cool Pass Card is a special-shaped chip card issued by ICBC which supports instant, small-amount offline payment. When making small payment with the card, the customer can complete the transaction by slightly touching the sensor with the card, which is password-free and signing-free.