debit card


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Related to debit card: credit card

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.
References in periodicals archive ?
* Using a debit card instead of writing checks saves you from showing identification or giving out personal information at the time of the transaction.
* Standard debit cards, which pull money from a bank account.
This initiative is being launched at the time the debit cards usage is on downward trend in Kenya.
"Therefore, for your own safety and verification, please complete the bottom of this form, and return it with your debit card to the safety manager."
Every Visa transaction made on the first month of the newly-approved CEB GetGo Debit Card will earn 5% rebate for the cardholder.
Commenting on the launch, Shazad Dada, Chief Executive Officer, Standard Chartered Pakistan said: 'We are delighted to launch Pakistan's first international airline co-branded Debit card. Our experience with Emirates has been filled with excitement, success and innovation, for us and our clients.
The Virtual Debit Card generated would include all relevant card details to process an online transaction, such as the 16 digit PAN number, expiry date and the CVV.
The online payment is provided and verified in association with a 3-D secure feature that adds an additional layer of security to Internet-based credit and debit card purchases.
Adding yet another value-added feature to its Excel debit cards, Bank Sohar has now introduced a new benefit for its customers using their Excel debits cards, to purchase Oman Air tickets online, a press release said.
"On the subject of security, all our customers should be also aware that QIB will never ask them to reply in an email with any personal information such as their ID number, Debit card and account details or any kind of passwords and PINs," concluded Mr.
* Understand how the debit card market in Croatia has performed in the historic period including quantitative data for transactions, value of transactions, cards in use and turnover per card.