Student essay is very important in collegeTopic: Traditional Education
Debit Card (Debit cards), which are used to pay for goods and services, withdraw cash from ATMs by directly debiting the payer of the amount of money that is encoded on a magnetic strip card. In other words, these cards can be used as a means of access to certain client accounts. Such cards are the most simple and versatile substitute for cash. Unlike credit cards, they do not allow to pay for purchases with no money in the account. 5) cards for electronic banking machines (Electronic Banking Machine - EBM, or Automatic Teller Machine - ATM). They are a form of debit cards and are used to withdraw cash from ATMs within the available funds in client's account and cash in deposit on account of the client. Granted to Bank, in which the customer has a deposit. 2.2 Classification of cards from a technical point of view
From the perspective of technological design all kinds of payments cards are divided into 2 groups: 1) cards with magnetic stripe. Currently, the map can be up to four magnetic strips. On one of them, called ISO -2, is information about the card number, expiration date and service code, area code check personal, free codes. Strip ISO - 1 contains the same information plus the name of the owner. In France, the use of 2 other bands - T2 and T3. Information on the magnetic strips is static in nature: once written, it does not change with time. Therefore, each calculation using such a card must communicate with the authentication center, which makes the operation of identification cards to confirm the availability of funds to the client's account and to allow the operation of payment for a particular amount, all these operations take place in real time (ON-line) and because of poor telephone communication can last long enough, one of the main drawbacks of magnetic cards are the inability to update the information poor reliable operational characteristics. Magnetic stripe rapidly breaks down (usually the bank issuing the card guaranteed to work only within one year). These deficiencies are deprived of so-called "electronic wallets or smart cards.