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Smart Cards
A smart card, chip card, or integrated circuit card (ICC), is defined as any pocket-sized card with embedded integrated circuits which can process information. This implies that it can receive input which is processed - by way of the ICC applications - and delivered as an output. There are two broad categories of ICCs. Memory cards contain only non-volatile memory storage components, and perhaps some specific security logic.
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Advantages
- Smart cards provide a means of effecting business transactions in a flexible, secure way with minimal human intervention and in a standard way.
- A high level of security, resulting from advanced user/terminal authentication procedures, standardized use of PIN numbers and passwords, in-built resistance to unauthorized access, and cashless transactions
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