Plastic cards-description, types of plastic cards, differences

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Table of contents

• Bank card payment systems
• Credit and debit cards
• Types of plastic cards depending on their purpose
• Types of plastic cards by customer category
• Types of plastic cards by type of application
• Types of plastic cards by the method of recording information

Plastic cards are a special banking product used for non-cash payments for goods and services, withdrawing money from an existing account, and transferring funds to the account itself. The issuing bank-the organization that issued your card — provides card maintenance in each specific case.

The standard size of a plastic card is as follows:

• Width-85.6 mm;
• Height-53.98 mm;
• Thickness-0.8 mm;
• The radius is 3.2 mm.

For more information, see the bank card scheme drawn up in accordance with international standards:
Most plastic cards use a standard 16-digit number.:

• The first six characters are the bank's encoding.
• The next nine are the individual number under which the card is listed in the banking system;
• The last sign is a control sign.

Bank card payment systems​

Each card issued by banks is served by a specific payment system. There are two most popular cards in the world: Visa and MasterCard. We have presented a comparison of these two systems in the form of a table:

Comparison of Visa and MasterCard payment systems:

Visa	MasterCard
produced mainly for the US system	they were developed as an alternative for the European Union
there are no withdrawal limits	there are no withdrawal limits for third-party devices
there is an additional OIF commission for converting funds in the amount of 1.5%	there is no such commission
for online withdrawals, the CVV2 code is used	for online withdrawals, the CVC2 code is used
The main currency is the US dollar	The main currency is Euro

In our country, cards of this type issued by various banks have almost no significant differences. However, you need to keep in mind the specifics of servicing such cards if you are going on a trip abroad, and there you will be paid using payment methods of a certain system. Here, the answer to the question of which card to choose should always be given based on the main currency of the country, as well as the volume of operations that you plan to perform.

Credit and debit cards​

Most of the cards that are in circulation for Russian customers of large and small banks belong to the subspecies. Its special features are that its owner can pay for goods and services by withdrawing only the available funds on the card account, but no more than they put on it or received in the form of transfers.

Types of plastic cards depending on their purpose​

• ID card – a pass to closed rooms or events. A well — known example is club cards;
• Card with information about the owner – informational;
• Financial– allows the holder to make a payment for the purchased product or service provided;
• Insurance cards are a convenient analogue of a paper insurance policy. For drawing information, the hatching method is used or a chip is integrated;
• Phone cards – a plastic card used for international and long-distance calls;
• Discount cards are issued in retail organizations and allow the client to get a discount on the purchase of goods.

It is important to note that the types are not mutually exclusive. The card can be universal and serve the owner as both a pass and a tool for paying an invoice.
Fact. The multi-function map system is widely used in European countries. Despite the convenience and prospects, such a tool is rare in Russia.

Types of plastic cards by customer category​

• Standard – issued for ordinary consumers of goods or services;
• Silver – cards that are assigned to individual entrepreneurs and representatives of the organization;
• Gold – issued for affluent consumers.

The main task of such cards is advertising, which is achieved by highlighting the status of a certain group of consumers.

Types of plastic cards by type of application​

• Personal– issued to individual clients;
• Family card – issued to all family members of a citizen who has signed a contract with the bank;
• Corporate card-issued to an entrepreneur. Allows a legal entity to issue personal cards to selected employees and create a bank account for them.

Types of plastic cards by the method of recording information​

• Graphic ones.
• Embossment. It implies a relief drawing of information. This approach will allow you to speed up payments by printing the slip. The transfer method used is mechanical pressure.
• Dashed image. Record data by applying a barcode. This method was actively used before the introduction of magnetic tape. This method is common in card programs that do not require complex calculations.
• Magnetic stripe. In appearance, they practically do not differ from standard plastic cards, but on the reverse side you can notice a magnetic stripe that can store up to 100 bytes of memory.
• A chip card.

Security of plastic cards​

To protect the card from unauthorized use by third parties, the issuing bank can use various means: pin codes, complex identification procedures, including a user's selfie when withdrawing funds, as well as other security elements. Every year they become more and more perfect. However, so far, no payment system has issued sufficiently secure cards that would completely eliminate the possibility of theft of funds. This factor should be kept in mind by the client, ensuring the safety of their data and fulfilling the instructions for working with the banking product. Only by following these requirements can you use cards as a convenient and practical means of payment.