Quick was an electronic purse system available on Austrian bank cards to allow small purchases to be made without cash. The history of the Quick system goes back to 1996. Quick was discontinued on July 31, 2017.
The system was aimed at small retailers such as bakeries, cafés, drink, and parking automats (but even small discount shops such as Billa accept it) and intended for purchases of less than €400. The card was inserted into a handheld Quick reader by the merchant who enters the transaction amount for the customer. The customer then confirms the purchase by pushing a button on the keypad, the exact amount debited from the card within a few seconds.
As well as the multipurpose bank card version, anonymous cards (also smart cards) are available for the use of people without bank accounts, such as children and tourists. At ATMs, one can transfer money for free between bank cards and the Quick chip (either on a standalone smart card, or contained in the bank card).
The scheme was operated by Europay Austria and most of the Maestro cards in use contain Quick support, but new ones are not issued without it.
A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either the front or the back. Many of the new cards now have a chip on them, which allows people to use their card by touch (contactless), or by inserting the card and keying in a PIN as with swiping the magnetic stripe. These are similar to a credit card, but unlike a credit card, the money for the purchase must be in the cardholder's bank account at the time of the purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase.
Electronic funds transfer at point of sale is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale. EFTPOS technology was developed during the 1980s.
A telephone card, calling card or phonecard for short, is a credit card-size plastic or paper card, used to pay for telephone services. It is not necessary to have the physical card except with a stored-value system; knowledge of the access telephone number to dial and the PIN is sufficient. Standard cards which can be purchased and used without any sort of account facility give a fixed amount of credit and are discarded when used up; rechargeable cards can be topped up, or collect payment in arrears. The system for payment and the way in which the card is used to place a telephone call vary from card to card.
A smart card (SC), chip card, or integrated circuit card is a physical electronic authentication device, used to control access to a resource. It is typically a plastic credit card-sized card with an embedded integrated circuit (IC) chip. Many smart cards include a pattern of metal contacts to electrically connect to the internal chip. Others are contactless, and some are both. Smart cards can provide personal identification, authentication, data storage, and application processing. Applications include identification, financial, public transit, computer security, schools, and healthcare. Smart cards may provide strong security authentication for single sign-on (SSO) within organizations. Numerous nations have deployed smart cards throughout their populations.
The Octopus card is a reusable contactless stored value smart card for making electronic payments in online or offline systems in Hong Kong. Launched in September 1997 to collect fares for the territory's mass transit system, it has grown into a widely used system for transport and other retail transactions in Hong Kong. It is also used for purposes such as recording school attendance and permitting building access. The cards are used by 98 percent of the population of Hong Kong aged 15 to 64 and the system handles more than 15 million transactions, worth over HK$220 million, every day.
A stored-value card (SVC) is a payment card with a monetary value stored on the card itself, not in an external account maintained by a financial institution. This means no network access is required by the payment collection terminals as funds can be withdrawn and deposited straight from the card. Like cash, payment cards can be used anonymously as the person holding the card can use the funds. They are an electronic development of token coins and are typically used in low-value payment systems or where network access is difficult or expensive to implement, such as parking machines, public transport systems, closed payment systems in locations such as ships or within companies.
Electronic cash was, until 2007, the debit card system of the German Banking Industry Committee, the association that represents the top German financial interest groups. Usually paired with a transaction account or current account, cards with an Electronic Cash logo were only handed out by proper credit institutions. An electronic card payment was generally made by the card owner entering their PIN at a so-called EFT-POS-terminal (Electronic-Funds-Transfer-Terminal). The name "EC" originally comes from the unified European checking system Eurocheque. Comparable debit card systems are Maestro and Visa Electron. Banks and credit institutions who issued these cards often paired EC debit cards with Maestro functionality. These combined cards, recognizable by an additional Maestro logo, were referred to as "EC/Maestro cards".
Suica is a prepaid rechargeable contactless smart card, electronic money used as a fare card on train lines in Japan, launched on November 18, 2001. The card can be used interchangeably with JR West's ICOCA in the Kansai region and San'yō region in Okayama, Hiroshima, and Yamaguchi prefectures, and also with JR Central's TOICA, JR Kyushu's SUGOCA, Nishitetsu's Nimoca, and Fukuoka City Subway's Hayakaken area in Fukuoka City and its suburb areas. The card is also increasingly being accepted as a form of electronic money for purchases at stores and kiosks, especially within train stations. As of 2018, JR East reports 69.4 million Suica UID's have been issued, usable at 476,300 point of sale locations, with 6.6 million daily transactions.
Moneo, sometimes branded as mon€o, is an electronic purse system available on French bank cards to allow small purchases to be made without cash and used from 1999 to 2015.
Mondex was a smart card electronic cash system, implemented as a stored-value card and owned by Mastercard.
A direct debit or direct withdrawal is a financial transaction in which one organisation withdraws funds from a payer's bank account. Formally, the organisation that calls for the funds instructs their bank to collect an amount directly from another's bank account designated by the payer and pay those funds into a bank account designated by the payee. Before the payer's banker will allow the transaction to take place, the payer must have advised the bank that they have authorized the payee to directly draw the funds. It is also called pre-authorized debit (PAD) or pre-authorized payment (PAP). After the authorities are set up, the direct debit transactions are usually processed electronically.
Payment cards are part of a payment system issued by financial institutions, such as a bank, to a customer that enables its owner to access the funds in the customer's designated bank accounts, or through a credit account and make payments by electronic transfer with a payment terminal and access automated teller machines (ATMs). Such cards are known by a variety of names including bank cards, ATM cards, client cards, key cards or cash cards.
A card reader is a data input device that reads data from a card-shaped storage medium. The first were punched card readers, which read the paper or cardboard punched cards that were used during the first several decades of the computer industry to store information and programs for computer systems. Modern card readers are electronic devices that can read plastic cards embedded with either a barcode, magnetic strip, computer chip or another storage medium.
A contactless smart card is a contactless credential whose dimensions are credit-card size. Its embedded integrated circuits can store data and communicate with a terminal via NFC. Commonplace uses include transit tickets, bank cards and passports.
Network for Electronic Transfers, colloquially known as NETS, is a Singaporean electronic payment service provider. Founded in 1985, by a consortium of local banks, it aims to establish the debit network and drive the adoption of electronic payments in Singapore. It is owned by DBS Bank, OCBC Bank and United Overseas Bank (UOB).
CEPAS, the Specification for Contactless e-Purse Application, is a Singaporean specification for an electronic money smart card. CEPAS has been deployed island-wide, replacing the previous original EZ-Link card effective 1 October 2009.
The ORCA card is a contactless, stored-value smart card system for public transit in the Puget Sound region of Washington, United States. The card is valid on most transit systems in the Seattle metropolitan area, including Sound Transit, local bus agencies, Washington State Ferries, the King County Water Taxi, and Kitsap Fast Ferries. It was launched in 2009 and is managed by the Central Puget Sound Regional Fare Coordination Project, a board composed of local transit agencies.
A payment terminal, also known as a point of sale (POS) terminal, credit card machine, PIN pad, EFTPOS terminal, is a device which interfaces with payment cards to make electronic funds transfers. The terminal typically consists of a secure keypad for entering PIN, a screen, a means of capturing information from payments cards and a network connection to access the payment network for authorization.
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt. The card issuer creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. There are two credit card groups: consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards, and a few gemstone-encrusted metal cards.
Proton was an electronic purse application for debit cards in Belgium. The system was introduced in February 1995 with the goal to replace cash primarily for small transactions around € 15. For security, the card was limited to storing 125 EUR of available electronic cash.
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