These cards access balances that are held in the cardholder’s transaction account at a depository institution or have been loaded on a gift card or other form of prepaid card. The results of a recent Federal Reserve survey show that debit cards are now used in 35 percent of noncash payment transactions, and have eclipsed checks as the most frequently used noncash payment method.
Besides, the People’s Bank of China should work closely with the labor and social security departments to make feasible plans to promote job training and micro credit extension for laid-off workers, foster the establishment of credit community, and conduct periodical evaluation of various support schemes.