#外卡内抛. In those days, foreign cards with single standard cards could be consumed in China Today, cardholders have understood a truth: card associations need to obtain a license issued by the regulatory authorities in order to issue cards in China and engage in interbank transfer and clearing business. At present, in addition to China UnionPay, two international card associations have obtained licenses, one will start business in 2020, and the other has also obtained a license and will soon start issuing RMB credit cards.
It is precisely because there has been no policy of opening up the clearing license that the single-label credit cards issued by several international card associations in China cannot be used in China, and can only be used in their respective card network outside China. Of course, these card associations are issued overseas credit cards and are used on some POS in China that can accept overseas credit cards.
However, what many cardholders don't know is that in fact, as early as many years ago, the single-label credit cards issued by several international card associations in China could be paid by some merchants in China despite not having a clearing license. This is to mention an exclusive term called "wild card internal throwing", which the author was fortunate to use a few times back then. But the practice itself is "illegal". In the early years, the central bank also issued several documents, requiring that the single-label credit cards issued by foreign card organizations that have not yet obtained the Chinese bank card clearing license can only be used for consumption outside China, and cannot be used in China, and the phenomenon of "internal throwing of foreign cards" has been stopped.
With the foreign card organizations successively obtaining Chinese bank card clearing licenses, the former American Express and the soon-to-be-issued Mastercard began to issue RMB credit cards, which can be used both inside and outside China. The phenomenon of "wild card internal dumping" has also become an experience worth understanding in the development of China's payment industry.
