Smart Card

A smart card is a plastic card with an embedded computer chip that looks like a credit card. Smart cards may be used as stored value cards. Depending on the capacity of the integrated circuit, the smart card may hold limited information, or may have the ability to perform more complex computing functions.

For stored value smart cards, an electronic device is used to read the existing value of electronic cash and to load (add) or deduct electronic cash stored on computer chip.

Smart cards may function as normal credit cards or debit cards. For example, Visa and MasterCard issued the EMV Standards to define how smart cards should operate in their networks.

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