Starting from June 1, for bank cards that support the QuickPass function, the single transaction limit for small-amount password-free and signature-free transactions will be increased from 300 yuan to 1,000 yuan. Many people are worried about security issues. In this regard, UnionPay has proposed five major measures to ensure the safety of cardholders’ funds , For the misappropriation losses caused by card theft, loss and other reasons, provide cardholders with 72 hours of card loss protection services before reporting the loss. At the same time, the cumulative compensation amount for a single person per year has been increased from 10,000 yuan to 30,000 yuan. <br/>That is to say, in the future, if the UnionPay card is used for consumption within 1,000 yuan, no password or signature is required, and the payment will be completed as long as the card "di" is used. <br/>What is small-amount password-free and visa-free? <br/>Small-amount password-free and visa-free is a small-amount fast payment service provided by China UnionPay for cardholders. When a cardholder uses a financial IC card with "Quick Pass" function or a mobile device that supports "UnionPay Cloud Quick Pass" to conduct a transaction of a certain amount or less at a designated merchant, he only needs to put the card or mobile device close to the POS machine, etc. The "QuickPass" sensing area of the acceptance terminal can complete the payment. During the payment process, the cardholder will not be required to enter a PIN or signature. <br/>It is understood that the small-amount password-free and visa-free payment method is not only a mature payment method internationally, but also widely used in the domestic mobile payment field. It has long been the basic function of bank cards activated by default. Previously, the single transaction limit for password-free and visa-free transactions was 300 yuan, but starting from June 1, 2018, the limit has been raised to 1,000 yuan.