31-07-2013, 04:05 PM
A Tour to our credit card system
[attachment=56888]
WHAT DO WE MEAN BY CREDIT CARD
A credit card is a thin plastic card, usually 3-1/8 inches by 2-1/8 inches in size.
It contains identification information such as a signature or picture.
It authorizes the person named on it to charge purchases or services to his account charges for which he will be billed periodically.
The information on the card is read by automated teller machines (ATMs), store readers, and bank and Internet computers
Demerits of credit card
Security.
require signatures.
someone can see the account number and name on our card.
Contact less technology
Credit card processing blink cards is an innovation designed to make cashless consumer purchases faster.
The traditional credit card processing involving a swipe of a card, increasingly perceived as taking too much time.
But the blink card is based on contactless technology.
What is blink card:-
The new blink credit card is just like a regular credit card in many ways.It has the account holder’s name and the account number
On the back is a magnetic strip containing the account information ,so the card can be used anywhere regular credit cards can be used.
Embedded within the blink card is a small RFID(radio frequency identification)microchip..
instead of swiping the magnetic strip on the card through a standard credit-card reader ,card holders simply hold their card a few inches from the blink terminal.The card never leaves the card holder’s hand.
As with standard credit-card transactions ,the terminal then sends the information via phone line to the bank that issued the card and checks the account balance .
If there is, the bank issues a confirmation number to the terminal, the sale is approved and the card holder is on his or her way.
Conclusion
Consumers now use credit cards with blink to make purchases first.
very soon it will be widely used.
The card readers have a built-in safeguard that prevents more than one card from being read at a time, and purchases above $25 require a signature as an extra security measure.
Blink technology has future scope in mobile.
[attachment=56888]
WHAT DO WE MEAN BY CREDIT CARD
A credit card is a thin plastic card, usually 3-1/8 inches by 2-1/8 inches in size.
It contains identification information such as a signature or picture.
It authorizes the person named on it to charge purchases or services to his account charges for which he will be billed periodically.
The information on the card is read by automated teller machines (ATMs), store readers, and bank and Internet computers
Demerits of credit card
Security.
require signatures.
someone can see the account number and name on our card.
Contact less technology
Credit card processing blink cards is an innovation designed to make cashless consumer purchases faster.
The traditional credit card processing involving a swipe of a card, increasingly perceived as taking too much time.
But the blink card is based on contactless technology.
What is blink card:-
The new blink credit card is just like a regular credit card in many ways.It has the account holder’s name and the account number
On the back is a magnetic strip containing the account information ,so the card can be used anywhere regular credit cards can be used.
Embedded within the blink card is a small RFID(radio frequency identification)microchip..
instead of swiping the magnetic strip on the card through a standard credit-card reader ,card holders simply hold their card a few inches from the blink terminal.The card never leaves the card holder’s hand.
As with standard credit-card transactions ,the terminal then sends the information via phone line to the bank that issued the card and checks the account balance .
If there is, the bank issues a confirmation number to the terminal, the sale is approved and the card holder is on his or her way.
Conclusion
Consumers now use credit cards with blink to make purchases first.
very soon it will be widely used.
The card readers have a built-in safeguard that prevents more than one card from being read at a time, and purchases above $25 require a signature as an extra security measure.
Blink technology has future scope in mobile.