Question

technical difference of smart cards and electronic cash ? atleast 7

technical difference of smart cards and electronic cash ? atleast 7

Homework Answers

Answer #1

A Smart Card is a pocket sized card that has embedded integrated circuits(ic).Smart Cards can be used as ATM cards, SIMs, and as payment cards for making various kinds of payments.

Electronic cash or digital cash is an alternative to the normal cash which can be used to make payments at any time as long as one has money in one's bank account. Debit cards and credit cards also come under electronic cash.

Smart Cards are nothing but Electronic cash with a chip or Integrated Circuit. Other type of Electronic cash is the magnetic stripe cards which contain static data and are comparatively less secure than a smart card. Today most of the cards used are smart cards.

So, Smart Card is a subset of Electronic cash card. Smart Cards or Electronic Cash cards with a chip are capable of stroing information and update it after transactions even when offline.

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