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PRESENTED BY. HARSHA CHAVAN ELSEETHA DSOUZA SAMSON DSOUZA BENJAMIN DURAI ROHIT GUPTA VIVEK GUSIAN
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INTRODUCTION
HISTORY
A generation ago, it wasnt all that unusual to be out for dinner with friends or at the register with a cart full of groceries and realize you didnt have enough cash to cover the bill. But today, youre likely to pull out a debit or credit card and not think anything of it.
DEBIT CARD
Debit card is a plastic card which provides a alternative payment method to cash when making purchases. It is also known as BANK CARD or CHECK CARD. PIN-system security No annual fee Debit cards can also allow for instant withdrawal of cash, acting as the ATM card for withdrawing cash and as a cheque guarantee card.
DISADVANTAGES In some countries debit cards offer lower levels of security protection. Banks are now charging over-limit fees or nonsufficient funds fees.
+20%
Cheques
Credit Cards
Debit Cards
1.ONLINE DEBIT CARD Online debit cards require electronic authorization of every transaction.
4.ELECTRONIC PURSE CARD Smart-card-based electronic purse systems (in which value is stored on the card chip, not in an externally recorded account,
CREDIT CARDS
A credit card is part of a system of payments named after the small plastic card issued to users of the system. Credit cards allow the consumers to 'revolve' their balance, at the cost of having interest charged. Credit card security relies on the privacy of the credit card
number.
Whenever a person other than the card owner has access to
1. SECURED CREDIT CARDS A secured credit card is a type of credit card secured by a deposit account owned by the cardholder.
2.PREPAID CREDIT CARDS A prepaid credit card is not a credit card, since no credit is offered by the card issuer,the card-holder spends money which has been "stored" via a prior deposit by the card-holder or
3.STANDARD CREDIT CARDS BALANCE TRANSFER CREDIT CARDS Balance transfer credit cards allow consumers to transfer a high interest credit card balance onto a credit card with a low interest rate.
4.LOW INTEREST CREDIT CARDS Low interest credit cards offer either a low introductory APR that jumps to a higher rate after a certain period, or a single low fixed-rate APR.
ADVANTAGES
Use a card with no annual fee and low interest rates Use a debit card vs. a credit card Know all of your cards hidden fees Always pay more than the minimum each month Pay on time, all the time
DISADVANTAGES
Dont get more than one Dont use them for cash advances Dont use them to pay for basics: rent, groceries, etc. Dont charge more than you can pay off in a month Dont let banks increase you credit limit.
DIFFERENCE
DEBIT CARD
CREDIT CARD
Debit card is a plastic card which provides a alternative payment method to cash when making purchases.
A debit card takes it from you banking account and a credit card charges it to your line of credit. Debit cards draw money directly from your checking account when you make the purchase Debit cards do not charge interest debit cards offer the same convenience without making you borrow the money to complete the transactions.
A credit card is part of a system of payments named after the small plastic card issued to users of the system.
credit card account is where the cards pull the money
A credit card is a card that allows you to borrow money in small amounts at local merchants. Credit cards charge interest Credit card was safer and easier to travel with a credit card rather than carrying cash or trying to use your checkbook.