FinanceAdvisor

A debit card is an ISO 7810 card which physically resembles a credit card, and, like a credit card, is used as an alternative to cash when making purchases. The funds are withdrawn directly from the purchaser’s current/checking or savings account at a bank or credit union. Some companies in the United States, such as Visa refer to their branded debit cards as check cards. continued…

Carte Bleue (”Blue Card”) is a major debit card payment scheme operating in France. The system has now been integrated into a wider scheme called CB or Carte bancaire (”banking card”). All Carte Bleue cards are part of CB, but not all CB cards are Carte Bleue. continued…

The Dankort is a Danish debit card and is the national credit card of Denmark. Today it is usually combined with a VISA card so it can be used abroad.

History

The first Dankort was issued by Pengeinstitutternes Købe- og Kreditkort in September 1983. In 2001 Dankort A/S was founded, and it took over the rights to the Dankort in January 2001. In 2004 the the Dankort technology was upgraded from being simply a magnetic strip card, to a hybrid card with both the magnetic strip and an embedded chip. continued…

Debit card cashback is a service offered to retail customers whereby an extra amount of money is added to the total purchase price of a transaction (paid by debit card) and the customer receives the extra amount in cash along with their goods. For example, a customer purchasing £18.99 worth of goods might ask for twenty pounds cashback. continued…

The EON, officially the EON Cyber Account, is an electronic savings account offered by Union Bank of the Philippines, or UnionBank. It is a savings account, a checking account, and a debit card all in one and has two firsts attributed to its name in terms of two things: first, it is the first electronic savings account in the Philippines, and second, it is a technological marvel in the Philippine setting. continued…

Interac Association is a Canadian organization linking enterprises that have proprietary networks so that they may communicate with each other for the purpose of exchanging electronic financial transactions. The Association was founded in 1984 as a cooperative venture between five financial institutions: Royal Bank of Canada, CIBC, Scotiabank, Toronto-Dominion Bank, and Desjardins. continued…

Interlink is the EFTPOS division of VISA, operating mainly in the United States. Contrary to a regular VISA check card purchase, an Interlink transaction is authenticated using using a personal identification number and offers the possibility of obtaining cash back (purchase + withdrawal) from a merchant. continued…

Laser is the primary debit card system used in the Republic of Ireland. It was launched in 1996 and currently has more than 1 million customers. Seven Irish financial institutions are partners in the Laser card system: Allied Irish Banks, Bank of Ireland, EBS Building Society, First Active, National Irish Bank, Permanent TSB and Ulster Bank.

Laser is primarily an electronic point of sale debit card, but can also be used by telephone and internet, and can be used for up to €1,500 per transaction. Laser also offers a cashback option similar to many other cards. Laser is supported by WorldPay as a payment method to any country, and is the only non-cash payment method accepted by some discount stores in Ireland, including Aldi and Lidl. continued…

Maestro is an international debit card service; a joint venture by MasterCard and Europay International. Maestro cards are obtained from associate banks and linked to the cardholder’s current account. The cardholder presents the card at the Point of sale (POS) and this is swiped through the terminal by the assistant or the customer or inserted into a PINpad. continued…

Solo is a debit card produced by Switch Card Services in the UK, specifically for people under 18 or on lower incomes. One particular feature of the card is that all transactions require electronic authorisation from the issuing bank. Such authorisation will not be given if there are not sufficient funds in the cardholder’s account and so it is not possible to incur an overdraft. continued…