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Smart Card VS Magnetic Stripe
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With the world now emerging with newer technology, switching from magnetic stripe to chip based card is one of the technology that was not missed out upon
and thus is getting more and more popularity. Forget about gift certificates, rebate coupons or discount vouchers. Why go through all the hassle when you
can easily enjoy the benefits of a smart card?
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Smart card and magnetic stripe card:
- Smart card, like any other ordinary card, has a chip embedded in it. It is a small general purpose computer embedded into a plastic card, such as a
credit card. Smart card is build with greater security features as compared to the old magnetic stripe card, and smart card is tamper-resistant. The chip
acts like a processor, where by, when a smart card is swipe, information stored on the chip will be read and checked for validity. Card holder can further
proceed with transactions if the card is valid.
- Although smart card is just a plastic card with a chip embedded in it, it can be customized according to card holder's preference so that with just one
card, it can offers multiple functions. For example, Loyalty and the Fleet card system can be customized as one card. A multiple card is when more than one
system is being integrated into a card rather than the need of carrying whole lots of card from the same merchant but with different type of application.
- Smart card is chip tamper-resistant, therefore information stored on the card can be read / write protected, and each smart card has its own unique serial
number. Smart card provides a portable easy to use form factor that many will find it easy to use.
- Since smart card provides better and tighter security, smart card holders can opt to have PIN identification before making transactions at outlets through
out the country. With this PIN identification it will be more reliable and making security a top notch and thus providing more confidentiality. The terminal
will require the card carrier to key in the PIN identification before any transactions is carried out. If the card is lost, the finder could not use the card
for own purpose.
- Smart card, as the name implies, is an intelligent card. It is capable of processing and not just merely storing information. It can communicate with
computing devices through a smart card reader. If there are any updates, the existing card can be updated without the need of issuing a new card. This is very
convenient as the card holder need not wait for the new card to be issued.
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