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China to Unify Mark on Banking Cards
China's central bank issued a circular Monday demanding that all commercial banks adopt a unified "Yinlian" mark on their banking cards for the purpose of settling in the local currency, Renminbi.
In the circular, the People's Bank of China asks all commercial banks to print the "Yinlian" mark on a designated position in the lower right front of the banking cards, which are restricted to domestic use. In addition, a holographic anti-counterfeiting mark is also required on credit cards.
Dual-account cards for universal use must print the "Yinlian" mark on a designated position on the upper right front, according to the circular.
As of January 1,2004, all ATMs, POSs (points of sale) and other banking card terminals must bear the "Yinlian" mark, and no other marks will then be allowed. As of January 1, 2002, no marks other than the "Yinlian" mark will be allowed to appear on banking cards.
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