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  • Credit card

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    An example of the front in a typical credit card: An example of the reverse side of a typical credit card: A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts so paid plus the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. In other words, credit cards combine payment services with extensions of credit. Complex fee structures in the credit card industry may limit customers' ability to comparison shop, helping to ensure that the industry is not price-competitive and helping to maximize industry profits. Due to concerns about this, many legislatures have regulated credit card fees. A credit card is different from a charge card, which requires the balance to be repaid in full each month. In contrast, credit cards allow the consumers a continuing balance of debt, subject to interest being charged.

  • EMV

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    A credit card issued by Japan Airlines and Visa, showing the square, gold-plated contact pads for connecting to the chip.EMV is a payment method based upon a technical standard for smart payment cards and for payment terminals and automated teller machines that can accept them. EMV cards are smart cards (also called chip cards or IC cards) that store their data on integrated circuits in addition to magnetic stripes (for backward compatibility). These include cards that must be physically inserted (or "dipped") into a reader, as well as contactless cards that can be read over a short distance using near-field communication (NFC) technology. Payment cards that comply with the EMV standard are often called Chip and PIN or Chip and Signature cards, depending on the authentication methods employed by the card issuer. There are standards based on ISO/IEC 7816 for contact cards, and standards based on ISO/IEC 14443 for contactless cards (Mastercard Contactless, Visa PayWave, American Express ExpressPay). EMV originally stood for "Europay, Mastercard, and Visa", the three companies that created the standard. The standard is now managed by EMVCo, a consortium of financial companies.

  • Mastercard

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    Mastercard Incorporated (stylized as MasterCard from 1979 to 2016 and mastercard since 2016) is an American multinational financial services corporation headquartered in the Mastercard International Global Headquarters in Purchase, New York, United States. The Global Operations Headquarters is located in O'Fallon, Missouri, United States, a municipality of St. Charles County, Missouri. Throughout the world, its principal business is to process payments between the banks of merchants and the card issuing banks or credit unions of the purchasers who use the "Mastercard" brand debit, credit and prepaid to make purchases. Mastercard Worldwide has been a publicly traded company since 2006. Prior to its initial public offering, Mastercard Worldwide was a cooperative owned by the more than 25,000 financial institutions that issue its branded cards. Mastercard, originally known as "Interbank" and "Master Charge" from 1966 to 1979, was created by several California banks as a competitor to the BankAmericard issued by Bank of America, which later became the Visa credit card issued by Visa Inc.

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