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 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.
References in periodicals archive ?
This research service covers the global market for EFT POS terminals.
The key challenges for the global EFT POS terminals are:
Euronet's global payment network is extensive - including 12,058 ATMs, approximately 53,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 33 countries; card software solutions; a prepaid processing network of approximately 588,000 POS terminals at approximately 276,000 retailer locations in 29 countries; and a consumer-to-consumer money transfer network of approximately 133,000 locations serving 133 countries.
Euronet's global payment network is extensive - including 11,055 ATMs, approximately 53,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 33 countries; card software solutions, a prepaid processing network of approximately 562,000 terminals at approximately 278,000 retailer locations in 29 countries; and a consumer-to-consumer money transfer network of approximately 107,000 locations serving 132 countries.
com/research/a712dc/world_eft_pos_term) has announced the addition of Frost & Sullivan's new report "World EFT POS Terminals Market" to their offering.
Euronet's global payment network is extensive -- including 10,408 ATMs, approximately 57,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 30 countries; card software solutions; a prepaid processing network of approximately 530,000 POS terminals across approximately 255,000 retailer locations in 24 countries; and a consumer-to-consumer money transfer network of approximately 104,400 locations serving 120 countries.
Euronet's global payment network is extensive -- including 10,408 ATMs, approximately 57,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 30 countries; card software solutions; a prepaid processing network of approximately 515,000 point-of-sale terminals across approximately 241,000 retailer locations in 23 countries; and a consumer-to-consumer money transfer network of approximately 104,400 locations serving 120 countries.