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Explain the examples of Electronic Cards.

Explain the examples of Electronic Cards.

Answers

Kavungya
i). Payment cards—electronic cards that contain information that can be used for payment purposes
ii). Credit cards—provides holder with credit to make purchases up to a limit fixed by the card issuer
iii). Charge cards—balance on a charge card is supposed to be paid in full upon receipt of monthly statement
iv). Debit card—cost of a purchase drawn directly from holder’s checking account (demand-deposit account)
v). Virtual credit card—an e-payment system in which a credit card issuer gives a special transaction number that can be used online in place of regular credit card numbers
vi). Electronic wallets (e-wallets)—a software component in which a user stores credit card numbers and other personal information; when shopping online; the user simply clicks the e-wallet to automatically fill in information needed to make a purchase
vii). Purchasing cards—special-purpose payment cards issued to a company’s employees to be used solely for purchasing non-strategic materials and services up to a preset dollar limit
o Instrument of choice for B2B purchasing
Kavungya answered the question on May 9, 2019 at 13:14

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