January 21, 2025
On January 14, 2025, Ping An Bank Credit Card Center announced the launch of the small-value contactless and signature-free function for Mastercard RMB cards. Starting from March 4, 2025, when making offline card transactions with a payment amount of 1,000 yuan or less, customers only need to bring the card close to the sensing area of the acceptance terminal to complete the payment instantaneously. There is no need to enter the cumbersome password or sign on the printed voucher, which greatly improves the payment experience. This function is applicable to various small-value and high-frequency consumption scenarios such as supermarket shopping, dining in restaurants, and taking public transportation. It is available for multiple Ping An Bank Mastercard RMB credit cards, including the Enjoyment Edition, Premium Edition, Intelligent Edition, and Ultra Edition of the Ping An Bank Mastercard Good Car Owner Platinum Card, as well as the Ping An Bank Mastercard International Student Card. In addition, newly issued Ping An Bank Mastercard RMB credit cards after the announcement will also support this function by default. Customers can open or close this function through the Ping An Pocket Bank APP.
Stock Mastercard Upgrade and Migration
On January 19, 2025, NetsUnion Mastercard (a joint venture established in China by Mastercard and NetsUnion Clearing) announced the upgrade and migration of stock Mastercard bank cards. For the "Mastercard + UnionPay" dual-brand bank cards, they can be directly reissued as Mastercard single-label cards, and the consumption both domestically and overseas will not be affected, and the functions will continue. For the Mastercard single-brand bank cards that can only be used overseas, they can be reissued as new "China Mastercard" bank card products, with the domestic RMB settlement transaction function opened, and the overseas foreign currency settlement is still supported, which are upgraded to be applicable both domestically and overseas.
