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DEBIT CARDDEBIT CARD & &

CREDIT CARD CREDIT CARD

PRESENTED PRESENTED BYBY:-:-

Ravi Kumar Ravi Kumar GuptaGupta

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INTRODUCTIONINTRODUCTION A few years ago it was easy to tell the A few years ago it was easy to tell the

difference between a credit card and a difference between a credit card and a debit card. debit card.

You used your debit card at the ATM with a You used your debit card at the ATM with a personal identification number, and you personal identification number, and you used your credit card for purchases. used your credit card for purchases.

But today both types of cards carry familiar But today both types of cards carry familiar credit company logos, both can be swiped credit company logos, both can be swiped at the checkout counter and both can be at the checkout counter and both can be used to make online purchases. used to make online purchases.

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DEBIT CARDDEBIT CARD Debit card is a plastic card which Debit card is a plastic card which

provides a alternative payment method provides a alternative payment method to cash when making purchases.to cash when making purchases.

Functionally, it can be called an Functionally, it can be called an electronic check, as the funds are electronic check, as the funds are withdrawn directly from either the withdrawn directly from either the bank account, or from the remaining bank account, or from the remaining balance on the card.balance on the card.

It is also known as BANK CARD or It is also known as BANK CARD or CHECK CARD.CHECK CARD.

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Debit cards can also allow for Debit cards can also allow for instant withdrawal of cash, acting as instant withdrawal of cash, acting as the ATM card for withdrawing cash the ATM card for withdrawing cash and as a cheque guarantee card. and as a cheque guarantee card. Merchants can also offer Merchants can also offer "cashback"/"cashout" facilities to "cashback"/"cashout" facilities to customers, where a customer can customers, where a customer can withdraw cash along with their withdraw cash along with their purchase.purchase.

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i4 MAESTRO DEBIT CARD

First Debit Gold card

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Debit CardDebit Card

It is used instead of a check to make It is used instead of a check to make purchases, anywhere Visa is accepted purchases, anywhere Visa is accepted

It is used instead of a credit card to pay It is used instead of a credit card to pay bills such as utilities, insurance and car bills such as utilities, insurance and car payments payments

Point-of-sale funds are drawn from Point-of-sale funds are drawn from primary checking account primary checking account

PIN-system security PIN-system security Change your PIN at any Merchants Change your PIN at any Merchants

Bank branch Bank branch No annual fee No annual fee Choose from three card designs Choose from three card designs

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TYPES OF DEBIT TYPES OF DEBIT CARDCARD

1.1. ONLINE DEBIT CARDONLINE DEBIT CARD

2.2. OFFLINE DEBIT CARDOFFLINE DEBIT CARD

3.3. PREPAID DEBIT CARDPREPAID DEBIT CARD

4.4. ELECTRONIC PURSE CARDELECTRONIC PURSE CARD

5.5. CARDS FOR MAIL, TELEPHONE & CARDS FOR MAIL, TELEPHONE & INTERNET USE ONLYINTERNET USE ONLY

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1. 1. ONLINE DEBIT ONLINE DEBIT CARDCARD

Online debit cards require electronic Online debit cards require electronic authorization of every transaction.authorization of every transaction.

The debits are reflected in the user’s The debits are reflected in the user’s account immediately.account immediately.

The transaction may be additionally The transaction may be additionally secured with the personal identification secured with the personal identification number (PIN) authentication system number (PIN) authentication system and some online cards require such and some online cards require such authentication for every transaction, authentication for every transaction, essentially becoming enhanced essentially becoming enhanced automatic teller machine (ATM) cards.automatic teller machine (ATM) cards.

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One difficulty in using online debit cards is the One difficulty in using online debit cards is the necessity of an electronic authorization device necessity of an electronic authorization device at the point of sale (POS) and sometimes also at the point of sale (POS) and sometimes also a separate PIN pad to enter the PIN, although a separate PIN pad to enter the PIN, although this is becoming common place for all card this is becoming common place for all card transactions in many countries.transactions in many countries.

Banks in some countries, such as Canada and Banks in some countries, such as Canada and Brazil, only issue online debit cards. Brazil, only issue online debit cards.

In the United Kingdom, Solo and Visa Electron In the United Kingdom, Solo and Visa Electron are examples of online debit cards, which are are examples of online debit cards, which are typically issued by banks to customers whom typically issued by banks to customers whom the bank does not want to go overdrawn the bank does not want to go overdrawn under any circumstances, for example under-under any circumstances, for example under-18s.18s.

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2. 2. OFFLINE DEBIT OFFLINE DEBIT CARDCARD

Offline debit cards have the logos of major Offline debit cards have the logos of major credit cards or major debit cards and are credit cards or major debit cards and are used at the point of sale like a credit card. used at the point of sale like a credit card.

This type of debit card may be subject to a This type of debit card may be subject to a daily limit, and/or a maximum limit equal to daily limit, and/or a maximum limit equal to the current/checking account balance from the current/checking account balance from which it draws funds. Transactions conducted which it draws funds. Transactions conducted with offline debit cards require 2–3 days to be with offline debit cards require 2–3 days to be reflected on users’ account balances. reflected on users’ account balances.

In the United Kingdom, Maestro (formerly In the United Kingdom, Maestro (formerly Switch) and Visa Debit (formerly Delta) are Switch) and Visa Debit (formerly Delta) are examples of offline debit cards. examples of offline debit cards.

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3. 3. PREPAID DEBIT PREPAID DEBIT CARDCARD

Prepaid debit cards, also called reloadable Prepaid debit cards, also called reloadable debit cards or reloadable prepaid cards, are debit cards or reloadable prepaid cards, are often used for recurring payments. often used for recurring payments.

The payer loads funds to the cardholder's The payer loads funds to the cardholder's card account. card account.

Particularly for US-based companies with a Particularly for US-based companies with a large number of payment recipients abroad, large number of payment recipients abroad, prepaid debit cards allow the delivery of prepaid debit cards allow the delivery of international payments without the delays international payments without the delays and fees associated with international checks and fees associated with international checks and bank transfers. and bank transfers.

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4. 4. ELECTRONIC PURSE ELECTRONIC PURSE CARDCARD

Smart-card-based electronic purse Smart-card-based electronic purse systems (in which value is stored on systems (in which value is stored on the card chip, not in an externally the card chip, not in an externally recorded account, so that machines recorded account, so that machines accepting the card need no network accepting the card need no network connectivity) were tried throughout connectivity) were tried throughout Europe from the mid-1990s, most Europe from the mid-1990s, most notably in Germany. notably in Germany.

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5. 5. CARDS FOR MAIL, CARDS FOR MAIL, TELEPHONE AND TELEPHONE AND

INTERNET USE ONLYINTERNET USE ONLY Special pre-paid Visa cards for Mail Special pre-paid Visa cards for Mail

Order/Telephone Order (MOTO) and Internet Order/Telephone Order (MOTO) and Internet use only are made available by a small use only are made available by a small number of banks. They are sometimes called number of banks. They are sometimes called "virtual Visa cards", although they usually do "virtual Visa cards", although they usually do exist in the form of plastic. An example is 3V. exist in the form of plastic. An example is 3V.

Such a card prevents fraud by a card Such a card prevents fraud by a card number thief even if the card is not blocked, number thief even if the card is not blocked, because the customer normally does not because the customer normally does not store any money on the sub-account and store any money on the sub-account and fraudulent transactions do not get fraudulent transactions do not get authorized by the bank authorized by the bank

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ADVANTAGES ADVANTAGES

ANDAND

DISADVANTAGESDISADVANTAGES

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ADVANTAGESADVANTAGES1.1. A consumer who is not credit worthy and A consumer who is not credit worthy and

may find it difficult or impossible to obtain may find it difficult or impossible to obtain a credit card can more easily obtain a a credit card can more easily obtain a debit card.debit card.

2.2. Use of a debit card is limited to the Use of a debit card is limited to the existing funds in the account to which it is existing funds in the account to which it is linked.linked.

3.3. For most transactions, a check card can For most transactions, a check card can be used to avoid check writing altogether. be used to avoid check writing altogether.

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CONTD….CONTD….

4.4. Like credit cards, debit cards are Like credit cards, debit cards are accepted by merchants with less accepted by merchants with less identification.identification.

5.5. Unlike a credit card, which charges Unlike a credit card, which charges higher fees and interest rates when a higher fees and interest rates when a cash advance is obtained, a debit card cash advance is obtained, a debit card may be used to obtain cash from an may be used to obtain cash from an ATM or a PIN-based transaction at no ATM or a PIN-based transaction at no extra charge, other than a foreign ATM extra charge, other than a foreign ATM fee. fee.

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DISADVANTAGESDISADVANTAGES Some banks are now charging over-Some banks are now charging over-

limit fees or non-sufficient funds fees limit fees or non-sufficient funds fees based upon pre-authorizations.based upon pre-authorizations.

Many merchants mistakenly believe Many merchants mistakenly believe that amounts owed can be "taken" that amounts owed can be "taken" from a customer's account after a debit from a customer's account after a debit card (or number) has been presented.card (or number) has been presented.

In some countries debit cards offer In some countries debit cards offer lower levels of security protection than lower levels of security protection than credit cards.credit cards.

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The Three Party ModelThe Three Party Model

CardholderCardholder MerchantMerchant

ProcessorProcessor

Issuer / AcquirerIssuer / Acquirer

Card Payment Facility

Mer

chan

t ser

vice

cha

nge

Aut

horis

atio

n an

d

settl

emen

t ser

vice

s

Convenience &

payment

instrument &

credit risk,

where applicable

Card and

transaction fees

Purchase goods / services using card payment

instrument

Carriage Fee

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The Four Party Model The Four Party Model (Debit Card)(Debit Card)

CardholderCardholder MerchantMerchant

IssuerIssuer AcquirerAcquirer

Tra

nsa

cti

on

Fee

s

Co

nve

nie

nce

&

pay

me

nt

inst

rum

ent

Card Payment Facility

Purchase goods / services using card payment

instrument S

ettlemen

t &

Pay

men

t S

ervices

Merch

ant

Service C

harg

e

Settlement & RiskBearing

Interchange Fee

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This highly competitive market has This highly competitive market has resulted in impressive card growthresulted in impressive card growth

Source: FRB Data

Volume Growth of Payment Streams 2002-2006 (CAGR)

-20%

0%

20%

40%

60%

80%

100%

120%

140%

Debit CardsCheques

Cash

High take up of cards

Credit Cards

Cash is the largest volume

129%

-11%

+11%

+20%

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CREDIT

CARD

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CREDIT CARDCREDIT CARD A A credit cardcredit card is part of a system of is part of a system of

payments named after the small plastic payments named after the small plastic card issued to users of the system.card issued to users of the system.

It is a card entitling its holder to buy It is a card entitling its holder to buy goods and services based on the holder's goods and services based on the holder's promise to pay for these goods and promise to pay for these goods and services. services.

The issuer of the card grants a line of The issuer of the card grants a line of credit to the consumer (or the user) from credit to the consumer (or the user) from which the user can borrow money for which the user can borrow money for payment to a merchant or as a cash payment to a merchant or as a cash advance to the user. advance to the user.

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CONTD…..CONTD…..

A credit card is different from a charge A credit card is different from a charge card, where a charge card requires the card, where a charge card requires the balance to be paid in full each month. balance to be paid in full each month.

In contrast, credit cards allow the In contrast, credit cards allow the consumers to 'revolve' their balance, at consumers to 'revolve' their balance, at the cost of having interest charged.the cost of having interest charged.

Most credit cards are issued by local Most credit cards are issued by local banks or credit unions, and are the banks or credit unions, and are the shape and size specified by the ISO 7810 shape and size specified by the ISO 7810 standard. standard.

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WORKING PROCESSWORKING PROCESS When a purchase is made, the credit card When a purchase is made, the credit card

user agrees to pay the card issuer.user agrees to pay the card issuer. The cardholder indicates his/her consent to The cardholder indicates his/her consent to

pay by signing a receipt with a record of the pay by signing a receipt with a record of the card details and indicating the amount to be card details and indicating the amount to be paid or by entering a Personal identification paid or by entering a Personal identification number (PIN).number (PIN).

Also, many merchants now accept verbal Also, many merchants now accept verbal authorizations via telephone and electronic authorizations via telephone and electronic authorization using the Internet, known as a authorization using the Internet, known as a 'Card/Cardholder Not Present' (CNP) 'Card/Cardholder Not Present' (CNP) transaction. transaction.

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CONTD…..CONTD….. Electronic verification systems allow Electronic verification systems allow

merchants to verify that the card is valid.merchants to verify that the card is valid. The verification is performed using a The verification is performed using a

credit card payment terminal or Point of credit card payment terminal or Point of Sale (POS) system with a communications Sale (POS) system with a communications link to the merchant's acquiring bank.link to the merchant's acquiring bank.

Card is obtained from a magnetic stripe Card is obtained from a magnetic stripe or chip on the card, but is more or chip on the card, but is more technically an EMV card (Europay, technically an EMV card (Europay, MasterCard and VISA). i.e. VSDC – VISA, MasterCard and VISA). i.e. VSDC – VISA, Mchip – mastercard, AEIPS – American Mchip – mastercard, AEIPS – American Express, J Smart - JCBExpress, J Smart - JCB

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INTEREST CHARGESINTEREST CHARGES Credit card issuers usually waive interest Credit card issuers usually waive interest

charges if the balance is paid in full each charges if the balance is paid in full each month, but typically will charge full month, but typically will charge full interest on the entire outstanding balance interest on the entire outstanding balance from the date of each purchase if the total from the date of each purchase if the total balance is not paid.balance is not paid.

EX:- If a user had a $1,000 transaction and EX:- If a user had a $1,000 transaction and repaid it in full within this grace period, repaid it in full within this grace period, there would be no interest charged. there would be no interest charged.

FORMULAE - APR/100 * ADB/365 * FORMULAE - APR/100 * ADB/365 * number of days revolved. (Annual %age number of days revolved. (Annual %age rate, avg daily bal)rate, avg daily bal)

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BENEFITS TO BENEFITS TO CUSTOMERCUSTOMER

Due to intense competition in credit Due to intense competition in credit card industry, credit card providers card industry, credit card providers offer incentives such asoffer incentives such as

FREQUENT FLYER POINTSFREQUENT FLYER POINTS GIFT CERTIFICATESGIFT CERTIFICATES CASH BACK(1% based on total CASH BACK(1% based on total

purchase)purchase) LOW INTEREST CREDIT CARDS LOW INTEREST CREDIT CARDS EVEN 0% INTEREST CREDIT CARDS EVEN 0% INTEREST CREDIT CARDS

ARE AVAILABLEARE AVAILABLE

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GRACE PERIODGRACE PERIOD A credit card's grace period is the time A credit card's grace period is the time

the customer has to pay the balance the customer has to pay the balance before interest is charged to the balance. before interest is charged to the balance.

Grace periods vary, but usually range Grace periods vary, but usually range from 20 to 40 days depending on the type from 20 to 40 days depending on the type of credit card and the issuing bank. of credit card and the issuing bank.

If a customer is late paying the balance, If a customer is late paying the balance, finance charges will be calculated and the finance charges will be calculated and the grace period does not apply. grace period does not apply.

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BENEFITS TO BENEFITS TO MERCHANTSMERCHANTS

A credit card transaction is often more A credit card transaction is often more secure than other forms of payment, secure than other forms of payment, such as checks, because the issuing bank such as checks, because the issuing bank commits to pay the merchant the commits to pay the merchant the moment the transaction is authorized, moment the transaction is authorized, regardless of whether the consumer regardless of whether the consumer defaults on the credit card payment.defaults on the credit card payment.

More secure than cash, because they More secure than cash, because they discourage theft by the merchant's discourage theft by the merchant's employees and reduce the amount of employees and reduce the amount of cash on the premises. cash on the premises.

Prior to credit cards, each merchant had Prior to credit cards, each merchant had to evaluate each customer's credit to evaluate each customer's credit history before extending credit.history before extending credit.

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COSTS TO MERCHANTSCOSTS TO MERCHANTS

Merchants are charged many fees for Merchants are charged many fees for the privilege of accepting credit cards.the privilege of accepting credit cards.

The merchant may be charged a The merchant may be charged a discount rate of 1% - 3% discount rate of 1% - 3% ++ of each of each transaction obtained through a credit transaction obtained through a credit card.card.

Usually, the merchant will also pay a Usually, the merchant will also pay a flat per-item charge of $0.05 - $0.50 flat per-item charge of $0.05 - $0.50 for each transaction. for each transaction.

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PARTIES INVOLVEDPARTIES INVOLVED CARDHOLDERCARDHOLDER: Used to make a : Used to make a

purchase.purchase.

CARD ISSUING BANKCARD ISSUING BANK: The financial : The financial institution or other organization that institution or other organization that issues the card to the cardholder.issues the card to the cardholder.

MERCHANTMERCHANT: The individual or business : The individual or business accepting credit card payments for accepting credit card payments for products or services sold to the products or services sold to the cardholder.cardholder.

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CONTD……CONTD…… ACQUIRING BANKACQUIRING BANK: The financial : The financial

institution accepting payment for the institution accepting payment for the products or services on behalf of the products or services on behalf of the merchant.merchant.

INDEPENDENT SALES ORGANISATIONINDEPENDENT SALES ORGANISATION::

Resellers (to merchants) of the services Resellers (to merchants) of the services of the acquiring bank. of the acquiring bank.

MERCHANT ACCOUNTMERCHANT ACCOUNT: Organization : Organization that the merchant deals with. that the merchant deals with.

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CONTD……CONTD…… CREDIT CARD ASSOCIATIONCREDIT CARD ASSOCIATION: An : An

association of card-issuing banks such as association of card-issuing banks such as Visa, MasterCard, Discover, American Visa, MasterCard, Discover, American Express, etc.Express, etc.

TRANSACTION NETWORKTRANSACTION NETWORK: The system that : The system that implements the mechanics of the electronic implements the mechanics of the electronic transactions. transactions.

AFFINITY PARTNERAFFINITY PARTNER: Some institutions lend : Some institutions lend their names to an issuer to attract customers their names to an issuer to attract customers that have a strong relationship with that that have a strong relationship with that institution, and get paid a fee or a institution, and get paid a fee or a percentage of the balance for each card percentage of the balance for each card issued using their name.issued using their name.

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TRANSACTION STEPSTRANSACTION STEPS AUTHORIZATIONAUTHORIZATION – Approval code which the – Approval code which the

merchant stores with the transaction.merchant stores with the transaction. BATCHINGBATCHING – Transactions stored in – Transactions stored in

“batches” which are send to the acquirer.“batches” which are send to the acquirer. CLEARING AND SETTLEMENTCLEARING AND SETTLEMENT – debits the – debits the

issuers for payment and credits the acquirer.issuers for payment and credits the acquirer. FUNDINGFUNDING - Merchant receives the amount - Merchant receives the amount

totaling the funds in the batch minus the totaling the funds in the batch minus the "discount rate.” "discount rate.”

CHARGEBACKSCHARGEBACKS - Chargeback is an event in - Chargeback is an event in which money in a merchant account is held which money in a merchant account is held due to a dispute relating to the transaction. due to a dispute relating to the transaction.

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TYPES OF CREDIT TYPES OF CREDIT CARDSCARDS

CREDIT CARDS FOR BAD CREDITSCREDIT CARDS FOR BAD CREDITS1. 1. SECURED CREDIT CARDSSECURED CREDIT CARDS A secured credit card is a type of A secured credit card is a type of

credit card secured by a deposit credit card secured by a deposit account owned by the cardholder. account owned by the cardholder.

Typically, the cardholder must deposit Typically, the cardholder must deposit between 100% and 200% of the total between 100% and 200% of the total amount of credit desired. amount of credit desired.

Thus if the cardholder puts down Thus if the cardholder puts down $1000, they will be given credit in the $1000, they will be given credit in the range of $500–$1000. range of $500–$1000.

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2. 2. PREPAID “CREDIT” PREPAID “CREDIT” CARDSCARDS

A A prepaid credit cardprepaid credit card is not a credit card, is not a credit card, since no credit is offered by the card since no credit is offered by the card issuer: the card-holder spends money issuer: the card-holder spends money which has been "stored" via a prior deposit which has been "stored" via a prior deposit by the card-holder or someone else, such by the card-holder or someone else, such as a parent or employer. as a parent or employer.

Prepaid cards can be issued to minors Prepaid cards can be issued to minors (above 13) since there is no credit line (above 13) since there is no credit line involved. involved.

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STANDARD CREDIT STANDARD CREDIT CARDSCARDS

1.1. BALANCE TRANSFER CREDIT BALANCE TRANSFER CREDIT CARDSCARDS

Balance transfer credit cards allow Balance transfer credit cards allow consumers to transfer a high interest consumers to transfer a high interest credit card balance onto a credit card credit card balance onto a credit card with a low interest rate. Typical in the with a low interest rate. Typical in the market today are balance transfer market today are balance transfer credit cards with an introductory annual credit cards with an introductory annual percentage rate (APR) of 0 percent, percentage rate (APR) of 0 percent, with that introductory or "teaser" rate with that introductory or "teaser" rate lasting several months up to a year. lasting several months up to a year.

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2. 2. LOW INTEREST CREDIT LOW INTEREST CREDIT CARDSCARDS

Low interest credit cards offer either a Low interest credit cards offer either a low introductory APR that jumps to a low introductory APR that jumps to a higher rate after a certain period, or a higher rate after a certain period, or a single low fixed-rate APR. Low interest single low fixed-rate APR. Low interest cards can be very useful when cards can be very useful when consumers need make a large purchase consumers need make a large purchase because it allows several months to a because it allows several months to a year to pay it off with very low or no year to pay it off with very low or no interest. interest.

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SECURITYSECURITY Credit card security relies on the physical Credit card security relies on the physical

security of the plastic card as well as the security of the plastic card as well as the privacy of the credit card number. privacy of the credit card number.

Whenever a person other than the card Whenever a person other than the card owner has access to the card or its owner has access to the card or its number, security is potentially number, security is potentially compromised. i.e. security PIN is compromised. i.e. security PIN is requiredrequired

Some merchants will accept a credit card Some merchants will accept a credit card number for in-store purchases, where number for in-store purchases, where upon access to the number allows easy upon access to the number allows easy fraud, but many require the card itself to fraud, but many require the card itself to be present, and require a signature. be present, and require a signature.

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CONTD….CONTD….

Thus, a stolen card can be cancelled, Thus, a stolen card can be cancelled, and if this is done quickly, will and if this is done quickly, will greatly limit the fraud that can take greatly limit the fraud that can take place in this way.place in this way.

The PCI DSS is the security standard The PCI DSS is the security standard

issued by The PCI SSC (Payment issued by The PCI SSC (Payment Card Industry Security Standards Card Industry Security Standards Council).Council).

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CREDIT CARD COSTSCREDIT CARD COSTS

Annual FeesAnnual Fees Interest Interest

Annual Percentage Annual Percentage Rate (APR)Rate (APR)

Average Daily Average Daily Balance MethodBalance Method

Cash AdvancesCash Advances Convenience Convenience

ChecksChecks Penalty RatesPenalty Rates

Low Interest Low Interest Teaser RatesTeaser Rates

Balance TransfersBalance Transfers Late FeesLate Fees Over Credit Limit Over Credit Limit

FeesFees Bounced Check Bounced Check

FeesFees Currency Currency

Conversion FeesConversion Fees

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Credit Card Do’s

Use a debit card vs a credit card

Use a card with no annual fee and low interest rates

Know all of your card’s hidden fees

Always pay more than the minimum each month

Pay on time, all the time

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Credit Card Don’ts

Don’t get more than one

Don’t use them for cash advances

Don’t use them to pay for basics: rent, groceries, etc.

Don’t charge more than you can pay off in a month

Don’t let banks increase you credit limit

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The Four Party Model The Four Party Model (Credit Card)(Credit Card)

CardholderCardholder MerchantMerchant

IssuerIssuer AcquirerAcquirer

Car

d F

ees

Co

nve

nie

nce

&

Cre

dit

Card Payment Facility

Purchase goods / services using card payment

instrument S

ettlemen

t &

Pay

men

t S

ervices

Merch

ant

Service C

harg

e

Settlement & Credit Risk Bearing

Interchange Fee

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WHICH CARD DO YOU WANT IN WHICH CARD DO YOU WANT IN YOUR WALLET??YOUR WALLET??

Current data suggests that debit cards are Current data suggests that debit cards are more popular with consumers than credit more popular with consumers than credit cards. cards.

A recent TNS Financial Services A recent TNS Financial Services Consumer Credit Card Program Study Consumer Credit Card Program Study indicated that over 60 percent of indicated that over 60 percent of consumers prefer using debit cards to consumers prefer using debit cards to credit cards as a payment vehicle, because credit cards as a payment vehicle, because debit feels more like "real money." debit feels more like "real money."

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CONTD…..CONTD…..

Debit cards are also gaining favor as a Debit cards are also gaining favor as a form of online payment. Based on data form of online payment. Based on data from Jupiter Research in American from Jupiter Research in American Banker, debit cards will account for 46 Banker, debit cards will account for 46 percent of all online purchases by percent of all online purchases by 2010, compared to 41 percent in 2006. 2010, compared to 41 percent in 2006. The same data forecasts a slide in The same data forecasts a slide in credit card use to 35 percent of all credit card use to 35 percent of all online purchases in 2010 from 41 online purchases in 2010 from 41 percent in 2006 percent in 2006

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