Contactless smart cardA contactless smart card is a contactless credential whose dimensions are size. Its embedded integrated circuits can store (and sometimes process) data and communicate with a terminal via NFC. Commonplace uses include transit tickets, bank cards and passports. There are two broad categories of contactless smart cards. Memory cards contain non-volatile memory storage components, and perhaps some specific security logic.
Smart cardA smart card (SC), chip card, or integrated circuit card (ICC or IC card), is a card used to control access to a resource. It is typically a plastic credit card-sized card with an embeddedintegrated circuit (IC) chip. Many smart cards include a pattern of metal contacts to electrically connect to the internal chip. Others are contactless, and some are both. Smart cards can provide personal identification, authentication, data storage, and application processing.
Payment terminalA payment terminal, also known as a point of sale (POS) terminal, card machine, credit card machine, card reader, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly"), is a device which interfaces with payment cards to make electronic funds transfers.
Payment cardCard issued by a financial institution Two examples of credit cards Two examples of debit cards Payment cards are part of a payment system issued by financial institutions, such as banks, to a customer that enables its owner (the cardholder) to access the funds in the customer's designated bank accounts, or through a credit account and make payments by electronic transfer with a payment terminal and access automated teller machines (ATMs).
MastercardMastercard Inc. (stylized as MasterCard from 1979 to 2016 and as mastercard since 2016) is an American multinationalpayment card services corporation headquartered in Purchase, New York. It provides payment transaction processing and other related-payment services, including travel-related payments and bookings).
Europay InternationalEuropay International was a financial company. It was created by the merger of Eurocard International and Eurocheque International and was headquartered in Waterloo, Belgium, on the same premises as EPSS (European Payment Systems Services) and MasterCard EMEA (the MasterCard region comprising Europe, the Middle East and Africa). It merged with MasterCard International to form MasterCard, Inc in 2002.
Visa Inc.American payment card services corporationVisa Inc. () is an American multinationalpayment card services corporation headquartered in San Francisco, California. It facilitates electronic funds transfers worldwide, most commonly through Visa-branded , debit cards and prepaid cards.
Integrated circuitElectronic circuit formed on a small, flat piece of semiconductor materialA microscope image of an integrated circuit die used to control LCDs. The pinouts are the dark circles surrounding the integrated circuit.An integrated circuit (IC), also known as a microchip or simply chip, is a compact assembly of electronic circuits formed from various electronic components, such as transistors, resistors, and capacitors, and their interconnections.
Digital cardA digital card is either a physical item, such as a memory card on a camera, or, increasingly since 2017, the digital content hosted as a virtual card or cloud card, as a digital virtual representation of a physical card. They share a common purpose: identity management, , debit card or driver's license. A non-physical digital card, unlike a magnetic stripe card, can emulate (imitate) any kind of card.
Backward compatibilityIn telecommunications and computing, backward compatibility (or backwards compatibility) is a property of an operating system, software, real-world product, or technology that allows for interoperability with an older legacy system, or with input designed for such a system. Modifying a system in a way that does not allow backward compatibility is sometimes called "" backward compatibility. Such breaking usually incurs various types of costs, such as switching cost.ATMDevice used to perform financial transactionsAn old Nixdorf ATM in Germany (German: Bankautomat)Smaller indoor ATMs dispense money inside convenience stores and other busy areas, such as this off-premises Wincor Nixdorf mono-function ICA ATM in Sweden.An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance or account information inquiries, at any time and without the need for direct interaction with bank staff.*As an Amazon Associate I earn from qualifying purchases.