credit saver
A credit saver is an insurance policy that waives payment of unpaid charges when the insured becomes unable to pay credit card charges due to certain circumstances, such as death of the insured.
glossary
Glossary of terms commonly used in the Wallet
Terms in Credit/Debit Card Terms
35 Information
classic card
A classic card is one way to refer to a credit card. It can be used to describe the rank of the card, like gold card or platinum card.
cooling-off
Cooling-off is a special system to protect consumers as stipulated in the Specified Commercial Transactions Act and other laws. It covers contracts in surprise transactions such as door-to-door sales, and contracts in complex and high-risk transactions such as pyramid schemes.
UnionPay Card
A UnionPay card is a card that comes with UnionPay, China’s international card brand. About half of Chinese people own a UnionPay card, making it the most common means of payment in China.
bank-affiliated credit card
These cards are issued by bank-affiliated credit card companies. Bank-affiliated credit cards tend to be more difficult to screen. However, if you already have an account and have a track record of using the account to receive your salary or to debit your utility bills, this is a positive factor during the screening process.
merchant fee
Merchant fees are fees paid to credit card companies by merchants who sign a contract with a credit card company to install credit card payment systems.
installment payment
The method of paying the full amount required for a purchase at one time is called lump-sum payment, whereas the method of paying in installments is called installment payment. Since all payments made in installments fall under the installment payment category, the number of installments, such as two or ten, is irrelevant.
student card
A student card is a credit card exclusively for students. Unlike most credit cards, student cards are only issued to students 18 years of age or older who are enrolled in junior colleges, four-year colleges, graduate schools, or vocational schools, etc. Students under 20 years of age must have parental consent.
overseas travel accident insurance
Overseas travel accident insurance is an insurance policy that provides support for problems that occur during overseas travel. The coverage includes “accident and illness expenses” to pay for hospital visits due to injury or illness, and “damage to personal belongings” in the event that your belongings are stolen or damaged.
cash advance
Cash advance is the process of borrowing cash using a credit card’s cash advance facility. The card can be used by inserting it into ATMs of banks and other affiliated financial institutions, cash dispensers of affiliated companies, and ATMs and multimedia terminals at convenience stores.
cardmember agreement
The cardmember agreement is the terms and conditions that define the behavior to be followed when using a credit card. The cardmember agreement is found in the contract you review when you apply for a credit card. The cardmember agreement is in place to detect theft and unauthorized use.”
authorization
Authorization is the process of asking the credit card company if the card is indeed valid when it is used.
Osaifu-Keitai
Osaifu-Keitai (Mobile wallet) is a mobile phone equipped with a contactless IC chip called a FeliCa chip. It is very convenient because payment can be made by simply holding the device over a reader at a station ticket gate or at the cash register of a convenience store.
unembossed card
An unembossed card is a credit card that does not have an embossed surface like an e-money card. The surface of a typical credit card is embossed with text indicating “card number, name, and expiration date,” which is used when printing slips with an imprinter used for payment.
e-money
E-money is electronic money that can be used to make payments using a special electronic money card or mobile wallet instead of cash or credit card payments.