Financial Series 12 dual currency electronic cash Solution

In the PBOC 2.0 specification, electronic cash can only be set to one currency, and corresponds to a set of transaction parameters and risk management parameters. Dual-currency electronic cash is based on the existing electronic cash transaction process and security mechanisms, adding a second currency and related parameters to the card. Select a complete set of data for operations based on the transaction currency code of the terminal. Therefore, there are no special processing requirements for the transaction process on the terminal.

 

Currently, only overseas institutions are allowed to issue dual-currency electronic cash cards, and the first currency is required to be the local currency, and the second currency is the RMB. Considering that the current dual-currency electronic cash scheme and the final loading exchange rate scheme can already meet all the needs of domestic and foreign electronic cash products for cross-border payment, more currency combinations of electronic cash cards are issued, it is not only difficult to implement the liquidation channel, but also increases the difficulty of managing the card holder's account as the number of accounts increases. card loss also increases the card holder's loss. Therefore, UnionPay currently does not allow the issuance of dual-currency or multi-currency electronic cash cards in other currency combinations.

 

Foreign institutions can issue single currency electronic cash products by referring to China UnionPay's dual currency micro-technical solution based on debit/debit applications. JR/T 0025.12-2010 China Financial integrated circuit (IC) card specifications Part 1: Non-Contact IC Card Payment specifications and JR/T 12th-0025.13 China Financial integrated circuit (IC) card Specification Part 1: Implementation Based on debit/credit application small payment specification.

 

 

Data element name	Tag	Length	Format
Second currency electronic cash application currency code (EC secondary application currency code)	Df71	2	N4
Second currency electronic cash balance (EC secondary application balance)	Df79	6	N12
Second currency electronic cash balance limit (EC secondary application balance limit)	Df77	6	N12
Second currency electronic cash re-export threshold (EC secondary application reset threshold)	Df78	6	N12

 

 

In the get data process, card behavior analysis process, and card issuance script processing process, the card selects the first data element to respond to or the second data element according to the transaction currency code of the terminal.

 

 

Transaction type:The back-end of the dual-currency electronic cash card issuers should support consumption transactions, return transactions, and designated account deposit transactions. The electronic cash of UnionPay IC cards should support offline balance query and offline details query. The card issuer can choose to activate non-designated account deposit transactions, cash recharge transactions, and Automatic Deposit transactions. UnionPay IC card electronic cash does not support cash withdrawal transactions.

 

 

Consumption transactions:Like a single-currency electronic cash card, the dual-currency electronic cash card sends a transaction through the "offline consumption File. The issuing bank shall be able to distinguish the corresponding electronic cash account based on the transaction currency code of each transaction and handle the corresponding accounting.

 

Deposit transaction:The issuing bank shall be able to deposit Electronic cash accounts of two different currencies. For example, for Hong Kong dollar and Renminbi dual currency electronic cash cards, if the transaction currency code sent from the terminal is RMB, the electronic cash account of the renminbi should be circled; if the transaction currency code is Hong Kong dollar, deposit should be made to the Hong Kong dollar electronic cash account.

 

Liquidation requirements:Considering the particularity of offline transactions, organizations that issue dual-currency electronic cash cards need to establish two clearing channels with UnionPay, which correspond to the two currencies of dual-currency electronic cash cards. Taking the Hong Kong and Macao market as an example, the settlement of dual-currency electronic cash cards follows the current method of clearing the issuance of dual-currency credit cards, that is, the card issuer must open a RMB clearing account for local electronic cash transactions, use local currency for liquidation; use RMB for settlement of transactions in China.