|
|
|
|
|
Electronic Chip Equipped Credit Cardsby: Mary WiseThis amazing tool simplifies the credit card payment process and contributes to the eradication of identity fraud and theft from online as well as offline transactions. For many years the chip technology has been in the electronic industry being protagonist of every mayor technology breakthrough. Now, the chip technology has made its appearance in the world of finances and payments. It will most definitely contribute to making transactions safer and securer. Electronic Chip Credit Card’s Concept The Chip stores data in its memory making transaction really simple as all your personal details will be included in the cheap. This will contribute to commerce making payment faster, safer and incredibly easy to handle. The only thing you’ll need to do is enter the pin number that will validate ownership of the financial product associated with the card as well as your identity. The electronic chip replaces the old magnetic band. This band was a security problem due to the possibility for an unscrupulous person to access, read, modify, write or delete the information stored on it with very cheap pieces of hardware. Credit card duplication became a common practice and in many countries you are required to show some ID when paying with a credit card. Information Safety The electronic chip credit cards help keep data safe and avoid information from being forged and tampered. Thus, these new cards are proving to be a lot more reliable than magnetic band credit cards. The sole problem is that you need to remember the pin number and that access to your pin number implies access to all of your information stored on the card. However, this number requires validation from time to time in order to make things even safer. The period of time will be determined by the credit card issuer. How Does It Function These credit cards do not need to be passed through the reader, since they work with a chip, you just need to deep it into the terminal and all the information is immediately read. You won’t have to worry about damaging or demagnetizing the card as these chips are a lot more resistant. The chip reader is also capable of reading and saving information on the chip. Thus, a store will be able to store proprietary data on a card thus making it possible to add award programs, information for making deliveries, etc. Also, since these cards do not require a magnetic band, they can be incredibly small. Inside the small chip you can include mobile ATM facilities, remote ticketing, online payments, and many more services that will be added as the technology becomes more and more popular with time. These cards will be able to unify several accounts, debit and credit facilities, telephone number, etc. Amazingly these chip equipped credit cards will make online as well as offline purchases a very simple, fast and secure procedure. --- You will find more useful tips and interesting articles on this subject and other financial related topics by clicking Here Article Source: http://EzineArticles.com/?expert=Mary_Wise |
Home Page
Avoiding the Secured Credit Card Scams Be Wary of Gold and Platinum Credit Cards Buying Giving and Using Gift Cards Choosing a Credit Card Protect Yourself Avoid Credit Card Fraud What is Credit Card Blocking What To Do if Your Credit Card is Stolen How to Avoid Credit Card Late Fees Want To Consolidate Credit Card Debt? Virtual Credit Cards For Safer Online Shopping Electronic Chip Equipped Credit Cards Understanding Travel Rewards Credit Cards Making Money with Credit Cards Be Cautious when Using Airline Credit Cards Why Credit Cards Beat Cash Balance Transfer Credit Cards - Which One For You How To Pay Credit Card Debt Off How to Take Advantage of Rewards Credit Cards Credit Card Debt: Repair After Bankruptcy Charity Credit Cards are a Great Way to Give |
|