A composite chip card with a security protection interface and a method for controlling the same are provided. The chip card comprises a carrier, at least one induction coil, at least one chip module, and at least one security protection interface. The security protection interface further comprises a mechanical security protection module and a control unit. The induction coil, the chip module, and the security protection interface are all provided on the carrier. The chip module is electrically connected to the induction coil. The mechanical security protection module is electrically connected to the chip module. The control unit is electrically connected to the mechanical security protection module. The method for controlling the composite chip card includes: contacting a system related to issue of the chip card, by a user of the composite chip card; then activating the security protection interface of the composite chip card; and finally performing a contactless payment transaction.