smart card

Smart card

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Contactless smart cards: Smart cards use chip technology to communicate with card readers rather than direct contact between them.

Many public transit cards are contactless smart cards: a passenger can touch or wave the card over the turnstile to gain entry.

E-cash: Digital money that emulates properties of physical cash such as anonymous exchange. Public transit smart cards, such as Suica (Tokyo), Octopus (Hong kong) and Oyster (London), can be used as e-cash

when anonymity is preserved by not registering the card with a central authority. Mobile banking, m-banking, m-payments:

Smart cards: The general term for any card with a specialized computer chip embedded, allowing it to process transactions more elaborately and securely than magnetic strip cards.