Word

Description

Smart Card

A stored value card with a built-in microprocessor and memory used for identification or financial transactions. When inserted into a reader, it transfers data to and from a central computer. It is more secure than a magnetic stripe card and can be programmed to self-destruct if an incorrect password is entered too many times. As a financial transaction card, it can be loaded with digital money and used like a travellers cheque, except that variable amounts of money can be spent until the balance is zero.