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Payment Card [Credit and Debit Card]



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BCom-Sem2-Marketing-Digital-payment-Presentation

1. Payment Card [Credit and Debit Card]
b) Debit Card:-
A debit card (also known as a bank card, plastic card or check card) is a plastic payment card, that can be used instead of cash when making purchases. It is similar to a Credit card, but unlike a credit card, the money comes directly from the user's bank account, when performing a transaction.
Payments using a debit card are immediately transferred from the cardholder's designated bank account, only if sufficient balance is available, If not the transaction will be failed.
Debit cards usually also allow for instant withdrawal of cash, acting as an ATM card for withdrawing cash.
1. Payment Card [Credit and Debit Card]
Security issues while using an ATM cum debit card-

2. Electronic or Digital Cash
Digital cash refers to a format of electronic data that is similar in functions like that of our traditional paper cash. Digital cash can be stored, Transferred , paid and verified electronically through the use of different digital devices such as Computers, Mobile phones etc.
2. Electronic or Digital Cash
  • Trader can verify the validity of e cash without involvement of the bank.
  • Without the bank’s interference, a user can subdivide an amount of e-cash in a given amount into smaller subdivisions of e-cash.
  • the security of e-cash does not depend on any physical or geographical locations or special devices.
  • Like traditional paper cash, the model of digital cash also involves three parties- Customer, Trader and Bank.
  • The digital cash can not be manipulated and refused by a user illegally.
  • Digital cash ensures privacy or untraceability.
  • The digital cash can be transferred between different customer without involvement of the bank before finally deposited into the customer’s bank A/c

Points to remember-

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