debit card

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debit card,

card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machinesautomated teller machine
(ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip or computer chip.
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 for withdrawing cash from the user's checking account. Increasingly common in the 1990s as an alternative to credit cardscredit card,
device used to obtain consumer credit at the time of purchasing an article or service. Credit cards may be issued by a business, such as a department store or an oil company, to make it easier for consumers to buy their products.
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, debit cards have been promoted as safer than cash and more convenient than personal checks. By 1998 more than 73 million debit cards had been issued, with a sales volume of $134.7 million attributed to their use. They are typically issued by large credit-card companies through their participating banks. Debit cards typically offer the holder more limited legal protections than credit cards. Similar cards have also been used to distribute welfare benefits to recipients in some locales. Mobile payment services, which use a smartphone app to make payments, have replaced debit cards in some cases, but such services may not offer any protection against fraud.
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References in periodicals archive ?
The Indian central bank has said that debit card issuance had dropped in the past year.
* Prepaid debit cards don't require a bank account.
This initiative is being launched at the time the debit cards usage is on downward trend in Kenya.
"This letter from 'Mr Smith' at 'Barclays' is warning people about Spontaneous Debit Card Combustion...that's debit cards...
"All esteemed customers of SBI of India are hereby informed that it has been decided by the Bank that all the Magstripe Debit Cards which are in blocked state as on 28-Feb-2017 and to all such requests for blocking thereafter will remain blocked permanently.
And what better way to enjoy your debit cards than by getting perks for every purchase.
Now, any Easypaisa Mobile Account customer using the Easypaisa smartphone App can instantly generate a Virtual Debit Card on their smartphone and then use this card for online payments - wherever MasterCard is accepted.
With the introduction of this new facility, QIB becomes the first lender in Qatar to offer customers instant debit cards issuance through all its branches within minutes, whether for new or existing customers, who are requesting to replace, re-issue or renew their card.
Every customer opening an account in Bank Sohar is entitled to receive an Excel Visa debit card. This card can be used for cash withdrawals in Oman and worldwide at over 1mn ATMs and 29mn merchant locations where Visa Electron cards are accepted.
This possibility is provided and verified in association with a 3D secure feature that adds additional layers of security to Internet-based credit and debit card purchases.
Verdict Financial's "Croatia Debit Cards Usage Analytics: 2009 to 2019" report acts as an essential tool for companies active across the Croatian cards and payments value chain and for new players considering entering the market.