Debit card

A debit card (also known as a bank card or check card)

is a plastic payment card that can be used instead of cash
when making purchases. It is similar to a credit card, but
unlike a credit card, the money comes directly from the
user's bank account when using a debit card.

Some cards may bear a stored value with which a payment

is made, while most relay a message to the cardholder's
bank to withdraw funds from a payer's designated bank
account. In some cases, the primary account number is
assigned exclusively for use on the Internet and there is
no physical card.

Bank

1234 5678 9123 4567

6 01/99
7 MR A B PERSON

In many countries, the use of debit cards has become so An example of the front of a typical debit card:
widespread that their volume has overtaken or entirely replaced cheques and, in some instances, cash transactions.
1. Issuing bank logo
The development of debit cards, unlike credit cards and
2. EMV chip (optional and may depend on the issuing institucharge cards, has generally been country specic resulting
tion or bank)
in a number of dierent systems around the world, which
3.
Hologram (in some cards it's located at the back especially
were often incompatible. Since the mid-2000s, a number
in most MasterCard)
of initiatives have allowed debit cards issued in one coun4. Card number (may vary in length but mostly 16-digits with
try to be used in other countries and allowed their use for
unique last 4 digits. However in dinner cases such as Disinternet and phone purchases.
cover, Diner's Club, UnionPay & American Express it has
a unique 15-digit card number)

Unlike credit and charge cards, payments using a debit

card are immediately transferred from the cardholder's
designated bank account, instead of them paying the
money back at a later date.

5. Card brand logo

6. Expiration date
7. Cardholder's name

Debit cards usually also allow for instant withdrawal of

cash, acting as the ATM card for withdrawing cash. Merchants may also oer cashback facilities to customers,
where a customer can withdraw cash along with their purchase.

123

Types of debit card systems

There are currently three ways that debit card transactions

are processed: EFTPOS (also known as online debit or
PIN debit), oine debit (also known as signature debit)
and the Electronic Purse Card System.* [1] One physical card can include the functions of all three types, so
An example of the reverse side of a typical debit card:
that it can be used in a number of dierent circumstances.
Although the four largest bank card issuers (American
1. Magnetic stripe
Express, Discover Card, MasterCard, and Visa) all oer
2. Signature strip panel
debit cards, there are many other types of debit card, each
3. Card Security Code
accepted only within a particular country or region, for
example Switch (now: Maestro) and Solo in the United
Kingdom, Interac in Canada, Carte Bleue in France,
EC electronic cash (formerly Eurocheque) in Germany, in Australia and New Zealand. The need for cross-border
UnionPay in China, RuPay in India and EFTPOS cards compatibility and the advent of the euro recently led to
1

1 TYPES OF DEBIT CARD SYSTEMS

many of these card networks (such as Switzerland'sEC

direkt, Austria's Bankomatkasseand Switch in the
United Kingdom) being re-branded with the internationally recognised Maestro logo, which is part of the MasterCard brand. Some debit cards are dual branded with the
logo of the (former) national card as well as Maestro (for
example, EC cards in Germany, Switch and Solo in the
UK, Pinpas cards in the Netherlands, Bancontact cards
in Belgium, etc.). The use of a debit card system allows
operators to package their product more eectively while
monitoring customer spending.

the merchant pays lower fees on online debit transaction

as compared to credit(oine)

all card transactions in many countries.

The advantages of prepaid debit cards include being

safer than carrying cash, worldwide functionality due to
Visa and MasterCard merchant acceptance, not having
to worry about paying a credit card bill or going into
debt, the opportunity for anyone over the age of 18 to
apply and be accepted without regard to credit quality
and the option to directly deposit paychecks and government benets onto the card for free.* [4] Some of the rst
companies to enter this market were: MiCash, RushCard
and Netspend, who gained market share as a result of
being rst to market. However, since 1999, there have
been several new providers, such as TransCash, 247card
and iKobo, that oer a number of other benets, such
as money remittance services, card-to-card transfers, and
the ability to apply without a social security number.

1.3 Electronic purse card system

Smart-card-based electronic purse systems (in which

value is stored on the card chip, not in an externally
recorded account, so that machines accepting the card
need no network connectivity) are in use throughout
Europe since the mid-1990s, most notably in Germany
(Geldkarte), Austria (Quick Wertkarte), the Netherlands
(Chipknip), Belgium (Proton), Switzerland (CASH) and
1.1 Online debit system
France (Moneo, which is usually carried by a debit card).
In Austria and Germany, almost all current bank cards
Online debit cards require electronic authorization of ev- now include electronic purses, whereas the electronic
ery transaction and the debits are reected in the user purse has been recently phased out in the Netherlands.
s account immediately. The transaction may be additionally secured with the personal identication number
(PIN) authentication system; some online cards require 1.4 Prepaid debit cards
such authentication for every transaction, essentially becoming enhanced automatic teller machine (ATM) cards. Prepaid debit cards, also called reloadable debit cards, apOne diculty with using online debit cards is the neces- peal to a variety of users. The primary market for prepaid
*
sity of an electronic authorization device at the point of cards are unbanked people, [2] that is, people who do not
sale (POS) and sometimes also a separate PINpad to en- use banks or credit unions for their nancial transactions,
*
ter the PIN, although this is becoming commonplace for possibly because of poor credit ratings. [3]
Overall, the online debit card is generally viewed as superior to the oine debit card because of its more secure authentication system and live status, which alleviates problems with processing lag on transactions that may only issue online debit cards. Some on-line debit systems are using the normal authentication processes of Internet banking to provide real-time on-line debit transactions.

1.2

Oine debit system

Oine debit cards have the logos of major credit cards

(for example, Visa or MasterCard) or major debit cards
(for example, Maestro in the United Kingdom and other
countries, but not the United States) and are used at the
point of sale like a credit card (with payer's signature).
This type of debit card may be subject to a daily limit,
and/or a maximum limit equal to the current/checking
account balance from which it draws funds. Transactions
conducted with oine debit cards require 23 days to be
reected on usersaccount balances.
In some countries and with some banks and merchant service organizations, acreditor oine debit transaction
is without cost to the purchaser beyond the face value of
the transaction, while a fee may be charged for adebit
or online debit transaction (although it is often absorbed
by the retailer). Other dierences are that online debit
purchasers may opt to withdraw cash in addition to the
amount of the debit purchase (if the merchant supports
that functionality); also, from the merchant's standpoint,

As of 2013, several city governments (including Oakland,

California* [5] and Chicago, Illinois* [6]) are now oering
prepaid debit cards, either as part of a municipal ID card
(for persons such as undocumented immigrants, who are
unable to obtain a state driver's license or DMV ID card)
in the case of Oakland, or in conjunction with a prepaid
transit pass (Chicago). These cards have been heavily
criticized* [7]* [8] for their higher-than-average fees, including some (such as a at fee added onto every purchase made with the card) that similar products oered
by Green Dot and American Express do not have.
The U.S. federal government uses prepaid debit cards to
make benets payments to people who do not have bank
accounts. In 2008, the U.S. Treasury Department paired
with Comerica Bank to oer the Direct Express Debit
MasterCard prepaid debit card.* [9]

3
In July 2013, the Association of Government Accountants released a report on government use of prepaid
cards, concluding that such programs oer a number of
advantages to governments and those who receive payments on a prepaid card rather than by check. The prepaid card programs benet payments largely for cost savings they oer and provide easier access to cash for recipients, as well as increased security. The report also
advises that governments should consider replacing any
remaining cheque-based payments with prepaid card programs in order to realize substantial savings for taxpayers,
as well as benets for payees.* [10]

Consumer protection

Consumer protections vary, depending on the network

used. Visa and MasterCard, for instance, prohibit minimum and maximum purchase sizes, surcharges, and arbitrary security procedures on the part of merchants. Merchants are usually charged higher transaction fees for
credit transactions, since debit network transactions are
less likely to be fraudulent. This may lead them tosteer
customers to debit transactions. Consumers disputing
charges may nd it easier to do so with a credit card,
since the money will not immediately leave their control.
Fraudulent charges on a debit card can also cause problems with a checking account because the money is withdrawn immediately and may thus result in an overdraft or
bounced checks. In some cases debit card-issuing banks
will promptly refund any disputed charges until the matter
can be settled, and in some jurisdictions the consumer liability for unauthorized charges is the same for both debit
and credit cards.
In some countries, like India and Sweden, the consumer
protection is the same regardless of the network used.
Some banks set minimum and maximum purchase sizes,
mostly for online-only cards. However, this has nothing
to do with the card networks, but rather with the bank's
judgement of the person's age and credit records. Any
fees that the customers have to pay to the bank are the
same regardless of whether the transaction is conducted
as a credit or as a debit transaction, so there is no advantage for the customers to choose one transaction mode
over another. Shops may add surcharges to the price of
the goods or services in accordance with laws allowing
them to do so. Banks consider the purchases as having
been made at the moment when the card was swiped, regardless of when the purchase settlement was made. Regardless of which transaction type was used, the purchase
may result in an overdraft because the money is considered to have left the account at the moment of the card
swiping.

3 Financial access
Debit cards and secured credit cards are popular among
college students who have not yet established a credit history. Debit cards may also be used by expatriated workers
to send money home to their families holding an aliated
debit card.

4 Issues with deferred posting of

oine debit
To the consumer, a debit transaction is perceived as occurring in real-time; i.e. the money is withdrawn from
their account immediately following the authorization request from the merchant, which in many countries, is the
case when making an online debit purchase. However,
when a purchase is made using thecredit(oine debit)
option, the transaction merely places an authorization
hold on the customer's account; funds are not actually
withdrawn until the transaction is reconciled and hardposted to the customer's account, usually a few days later.
However, the previous sentence applies to all kinds of
transaction types, at least when using a card issued by
a European bank. This is in contrast to a typical credit
card transaction; though it can also have a lag time of a
few days before the transaction is posted to the account,
it can be many days to a month or more before the consumer makes repayment with actual money.
Because of this, in the case of a benign or malicious error
by the merchant or bank, a debit transaction may cause
more serious problems (for example, money not accessible; overdrawn account) than in the case of a credit
card transaction (for example, credit not accessible; over
credit limit). This is especially true in the United States,
where check fraud is a crime in every state, but exceeding
your credit limit is not.

5 Internet purchases
Debit cards may also be used on the Internet either with
or without using a PIN. Internet transactions may be conducted in either online or oine mode, although shops
accepting online-only cards are rare in some countries
(such as Sweden), while they are common in other countries (such as the Netherlands). For a comparison, PayPal
oers the customer to use an online-only Maestro card if
the customer enters a Dutch address of residence, but not
if the same customer enters a Swedish address of residence.
Internet purchases can be authenticated by the consumer
entering their PIN if the merchant has enabled a secure
online PIN pad, in which case the transaction is conducted in debit mode. Otherwise, transactions may be

6 DEBIT CARDS AROUND THE WORLD

conducted in either credit or debit mode (which is sometimes, but not always, indicated on the receipt), and this
has nothing to do with whether the transaction was conducted in online or oine mode, since both credit and
debit transactions may be conducted in both modes.

ing in GiroPost, just as if the transaction was conducted

at a bank branch, even if the bank branch is closed. Electronic transactions in Australia are generally processed
via the Telstra Argent and Optus Transact Plus network which has recently superseded the old Transcend network
in the last few years. Most early keycards were only usable for EFTPOS and at ATM or bank branches, whilst
the new debit card system works in the same way as a
6 Debit cards around the world
credit card, except it will only use funds in the specied
bank account. This means that, among other advantages,
In some countries, banks tend to levy a small fee for
the new system is suitable for electronic purchases witheach debit card transaction. In some countries (for exout a delay of two to four days for bank-to-bank money
ample, the UK) the merchants bear all the costs and custransfers.
tomers are not charged. There are many people who routinely use debit cards for all transactions, no matter how Australia operates both electronic credit card transaction
small. Some (small) retailers refuse to accept debit cards authorization and traditional EFTPOS debit card authofor small transactions, where paying the transaction fee rization systems, the dierence between the two being
would absorb the prot margin on the sale, making the that EFTPOS transactions are authorized by a personal
identication number (PIN) while credit card transactransaction uneconomic for the retailer.
tions can additionally be authorized using a contactless
payment mechanism. If the user fails to enter the correct
6.1 Angola
pin three times, the consequences range from the card
being locked out for a minimum 24-hour period, a phone
Main article: Multicaixa
call or trip to the branch to reactivate with a new PIN,
the card being cut up by the merchant, or in the case of
The banks in Angola issue by ocial regulation only one an ATM, being kept inside the machine, both of which
brand of debit cards: Multicaixa, which is also the brand require a new card to be ordered.
name of the one and only network of ATMs and POS Generally credit card transaction costs are borne by the
terminals.
merchant with no fee applied to the end user (although
a direct consumer surcharge of 0.5 - 3% is not uncommon) while EFTPOS transactions cost the consumer an
6.2 Armenia
applicable withdrawal fee charged by their bank.
ArCa (Armenian Card) - a national system of debit (ArCa
Debit and ArCa Classic) and credit (ArCa Gold, ArCa
Business, ArCA Platinum, ArCa Anity and ArCa Cobranded) cards popular in the Republic of Armenia. Established in 2000 by 17 largest Armenian banks.

6.3

Australia

Main article: EFTPOS

The introduction of Visa and MasterCard debit cards

along with regulation in the settlement fees charged by
the operators of both EFTPOS and credit cards by the Reserve Bank has seen a continuation in the increasing ubiquity of credit card use among Australians and a general
decline in the prole of EFTPOS. However, the regulation of settlement fees also removed the ability of banks,
who typically provide merchant services to retailers on
behalf of Visa or MasterCard, from stopping those retailers charging extra fees to take payment by credit card
instead of cash or EFTPOS.

Debit cards in Australia are called dierent names depending on the issuing bank: Commonwealth Bank
of Australia: Keycard; Westpac Banking Corporation: 6.4 Bahrain
Handycard; National Australia Bank: FlexiCard; ANZ
In Bahrain debit cards are under Benet, the interbankBank: Access card; Bendigo Bank: Cashcard.
ing network for Bahrain. Benet is also accepted in other
EFTPOS is very popular in Australia and has been op- countries though, mainly GCC, similar to the Saudi Payerating there since the 1980s. EFTPOS-enabled cards ments Network and the Kuwaiti KNET.
are accepted at almost all swipe terminals able to accept
credit cards, regardless of the bank that issued the card,
including Maestro cards issued by foreign banks, with 6.5 Brazil
most businesses accepting them, with 450,000 point of
sale terminals.* [11]
In Brazil debit cards are called carto de dbito (singular)
EFTPOS cards can also be used to deposit and withdraw and are got popular from 2008 and on. In 2013, Brazil
cash over the counter at Australia Post outlets participat- had got the mark of 100 milion of debit cards.* [12] The

6.8

Chile

initial usage of it was to replace the Check usage, that was were completed using debit cards than cash.* [14] This
common until the rst decade of 2000's.
popularity may be partially attributable to two main facToday, the majority of the nancial transactions (like tors: the convenience of not having to carry cash, and the
shopping, etc.) are made using debit cards (and this sys- availability of automated bank machines (ABMs) and Ditem is quickly replacing the cash payment). Nowadays, rect Payment merchants on the network.
the majority of debit payments are processed using a card Debit cards may be considered similar to stored-value
+ pin combination, and almost every card comes with a cards in that they represent a nite amount of money
chip to make transactions.
owed by the card issuer to the holder. They are dierent
The major debit card vendors in Brazil are Visa (with Visa in that stored-value cards are generally anonymous and
are only usable at the issuer, while debit cards are generElectron cards) and MasterCard (with Maestro cards).
ally associated with an individual's bank account and can
be used anywhere on the Interac network.

6.6

Bulgaria

In Canada, the bank cards can be used at POS and ABMs.

Interac Online has also been introduced in recent years allowing clients of most major Canadian banks to use their
debit cards for online payment with certain merchants as
well. Certain nancial institutions also allow their clients
to use their debit cards in the United States on the NYCE
network.* [15]

In Bulgaria debit cards are allowed in almost all stores

and shops, as well as in most of the hotels and restaurants
in the bigger cities. Smaller restaurants or small shops
will probably accept cash only. All Bulgarian banks can
provide debit cards when you open a bank account, for
maintenance costs. Usually debit cards used on ATMs
owned by the same bank do not cost a thing, and used on
ATMs of other banks costs low (3-10 times cheaper than 6.7.1 Consumer protection in Canada
using credit card). The most common cards in Bulgaria
are Maestro and Visa Electron, accepted everywhere to- Consumers in Canada are protected under a voluntary
gether with VISA and MasterCard.
code entered into by all providers of debit card services,
The Canadian Code of Practice for Consumer Debit Card
Services* [16] (sometimes called theDebit Card Code
6.7 Canada
). Adherence to the Code is overseen by the Financial
Consumer Agency of Canada (FCAC), which investiMain article: Interac
gates consumer complaints.
Canada has a nationwide EFTPOS system, called Interac
Direct Payment. Since being introduced in 1994, IDP
has become the most popular payment method in the
country. Previously, debit cards have been in use for
ABM usage since the late 1970s, with Credit Unions in
Saskatchewan and Alberta, Canada introducing the rst
card-based, networked ATMs beginning in June, 1977.
Debit Cards, which could be used anywhere a credit
card was accepted, were rst introduced in Canada by
Saskatchewan Credit Unions in 1982.* [13] In the early
1990s, pilot projects were conducted among Canada's six
largest banks to gauge security, accuracy and feasibility of
the Interac system. Slowly in the later half of the 1990s,
it was estimated that approximately 50% of retailers offered Interac as a source of payment. Retailers, many
small transaction retailers like coee shops, resisted offering IDP to promote faster service. In 2009, 99% of
retailers oer IDP as an alternative payment form.
In Canada, the debit card is sometimes referred to as a
bank card. It is a client card issued by a bank that
provides access to funds and other bank account transactions, such as transferring funds, checking balances,
paying bills, etc., as well as point of purchase transactions connected on the Interac network. Since its national
launch in 1994, Interac Direct Payment has become so
widespread that, as of 2001, more transactions in Canada

According to the FCAC website, revisions to the Code

that came into eect in 2005 put the onus on the nancial
institution to prove that a consumer was responsible for a
disputed transaction, and also place a limit on the number
of days that an account can be frozen during the nancial
institution's investigation of a transaction.

6.8 Chile
Chile has an EFTPOS system called Redcompra (Purchase Network) which is currently used in at least 23,000
establishments throughout the country. Goods may be
purchased using this system at most supermarkets, retail stores, pubs and restaurants in major urban centers.
Chilean banks issue Maestro, Visa Electron and Visa
Debit cards.

6.9 Colombia
Colombia has a system called Redeban-Multicolor and
Credibanco Visa which are currently used in at least
23,000 establishments throughout the country. Goods
may be purchased using this system at most supermarkets, retail stores, pubs and restaurants in major urban
centers. Colombian debit cards are Maestro (pin), Visa

6 DEBIT CARDS AROUND THE WORLD

Electron (pin), Visa Debit (as Credit) and MasterCard- 6.12 France
Debit (as Credit).
Carte Bancaire (CB), the national payment scheme, in
2008, had 57.5 million cards carrying its logo and 7,76
billion transactions (POS and ATM) were processed
6.10 Denmark
through the e-rsb network (135 transactions per card
The Danish debit card Dankort is ubiquitous in Denmark. mostly debit or deferred debit). Most CB cards are debit
It was introduced on 1 September 1983, and despite cards, either debit or deferred debit. Less than 10% of
the initial transactions being paper-based, the Dankort CB cards were credit cards.
quickly won widespread acceptance. By 1985 the rst
EFTPOS terminals were introduced, and 1985 was also
the year when the number of Dankort transactions rst
exceeded 1 million.* [17] Today the Dankort is primarily issued as a multicard combining the national Dankort
with the more internationally recognized VISA (denoted
simply as aVISA/Dankortcard). In September 2008,
4 million cards have been issued, of which 3 million cards
were VISA/Dankort cards. It is also possible to get a Visa
Electron debit card and MasterCard.

Banks in France usually charge annual fees for debit cards

(despite card payments being very cost ecient for the
banks), yet they do not charge personal customers for
checkbooks or processing checks (despite checks being
very costly for the banks). This imbalance dates from the
unilateral introduction in France of Chip and PIN debit
cards in the early 1990s, when the cost of this technology
was much higher than it is now. Credit cards of the type
found in the United Kingdom and United States are unusual in France and the closest equivalent is the deferred
debit card, which operates like a normal debit card, exMiscellaneous facts & numbers
cept that all purchase transactions are postponed until the
end of the month, thereby giving the customer between 1
In 2007, PBS (now called Nets), the Danish operator and 31 days of interest-free* [19] credit.
of the Dankort system, processed a total of 737 milThe annual fee for a deferred debit card is around 10
lion Dankort transactions.* [18] Of these, 4.5 million
more than for one with immediate debit. Most France
were processed on just a single day, 21 December.
debit cards are branded with the Carte Bleue logo, which
This remains the current record.
assures acceptance throughout France. Most card holders choose to pay around 5 more in their annual fee to
At the end of 2007, there were 3.9 million Dankort
additionally have a Visa or a MasterCard logo on their
cards in existence.* [18]
Carte Bleue, so that the card is accepted internationally.
A Carte Bleue without a Visa or a MasterCard logo is of As of 2012, more than 80,000 Danish shops had a
ten known as aCarte Bleue Nationaleand a Carte Bleue
Dankort terminal, and another 11,000 internet shops
with a Visa or a MasterCard logo is known as a Carte
also accepted the Dankort.* [18]
Bleue Internationale, or more frequently, simply called
a Visaor MasterCard.

6.11 Finland

Many smaller merchants in France refuse to accept debit

cards for transactions under a certain amount because of
the minimum fee charged by merchants' banks per transaction (this minimum amount varies from 5 to 15.25,
or in some rare cases even more). But more and more
merchants accept debit cards for small amounts, due to
the massive daily use of debit card nowadays. Merchants
in France do not dierentiate between debit and credit
cards, and so both have equal acceptance. It is legal in
France to set a minimum amount to transactions, but the
merchants must display it clearly.

Most daily customer transactions are carried out with

debit cards or online giro/electronic bill payment, although credit cards and cash are accepted. Checks are
no longer used. Prior to European standardization, Finland had a national standard (pankkikortti). Physically, a
pankkikortti was the same as an international credit card,
and the same card imprinters and slips were used for
pankkikortti and credit cards, but the cards were not accepted abroad. This has now been replaced by the Visa
and MasterCard debit card systems, and Finnish cards can In January 2016, 57.2% of all the debits cards in France
be used elsewhere in the European Union and the world. also had a contactless payment chip .* [20] The maximum
amount per transaction is set to 20 and the maximum
An electronic purse system, with a chipped card, was inamount of all contactless payments per day is between 50
troduced, but did not gain much traction.
and 100 depending on the bank.
Signing a payment oine entails incurring debt, thus ofine payment is not available to minors. However, online transactions are permitted, and since almost all stores 6.12.1 Liability and e-cards
have electronic terminals, today also minors can use debit
cards. Previously, only cash withdrawal from ATMs was According to French law,* [21] banks are liable for any
transaction made with a copy of the original card and for
available to minors (automaattikortti or Visa).

6.14

Hong Kong

any transaction made without a card (on the phone or on

the Internet), so banks have to pay back any fraudulent
transaction to the card holder if the previous criteria are
met. Fighting card fraud is therefore more interesting for
banks. As a consequence, French banks websites usually
propose ane-cardservice (electronic (bank) card),
where a new virtual card is created and linked to a physical card. Such virtual card can be used only once and
for the maximum amount given by the card holder. If the
virtual card number is intercepted or used to try to get a
higher amount than expected, the transaction is blocked.

card. This chip can be charged with up to 200 euro, and

is advertised as a means of making medium to very small
payments, even down to several euros or cent payments.
The key factor here is that no processing fees are deducted
by banks. It did not gain the popularity its inventors had
hoped for. However, this could change as this chip is now
used as means of age verication at cigarette vending machines, which has been mandatory since January 2007.
Furthermore, some payment discounts are being oered
(e.g. a 10% reduction for public transport fares) when
paying with Geldkarte. The Geldkartepayment
lacks all security measures, since it does not require the
user to enter a PIN or sign a sales slip: the loss of aGeld6.12.2 Cashback or Tip
karteis similar to the loss of a wallet or purse - anyone
who nds it can then use their nd to pay for their own
There is absolutely no possibility of cashback in France. purchases.
Cash can only be withdrawn from ATMs or, less and less,
from banks. Tipping with a debit card is usually not proposed but a service fee of 15%, where applicable, is al- 6.14 Hong Kong
ready included in the price.
A popular payment instant method widely used in Hong
Kong is EPS. Bank customers can use their ATM card
6.13 Germany
to make an instant EPS payment, much like a debit card.
Most banks in Hong Kong provide ATM cards with EPS
Debit cards have enjoyed wide acceptance in Germany capability.
for years. Facilities already existed before EFTPOS became popular with the Eurocheque card, an authoriza- The British banking rm HSBC's subsidiary Hang Seng
tion system initially developed for paper checks where, Bank's Enjoy card and American rm Citibank's ATM
in addition to signing the actual check, customers also Visa are two of the Visa debit card available in Hong
needed to show the card alongside the check as a security Kong. It is linked to the cardholder's savings or
measure. Those cards could also be used at ATMs and transactional account and funds can be moved upon refor card-based electronic funds transfer (called Girocard) quest or on a regularly scheduled basis to cover the
with PIN entry. These are now the only functions of charges that are incurred, whether in person or on-line.
such cards: the Eurocheque system (along with the brand) Overdraft privileges are not oered for holders of this
was abandoned in 2002 during the transition from the card. The card is in limited use due to the virtual
Deutsche Mark to the euro. As of 2005, most stores and monopoly of the EPS Corporation which is co-owned
petrol outlets have EFTPOS facilities. Processing fees by 21 major banks. EPS can be utilised overseas only
are paid by the businesses, which leads to some business in limited circumstances, such as for POS transactions.
owners refusing debit card payments for sales totalling The Mainland Chinese and Indian equivalents of EPS,
UnionPay and RuPay, can on the other hand be utilised
less than a certain amount, usually 5 or 10 euro.
overseas more extensively, for example at ATMs, casiTo avoid the processing fees, many businesses resorted noes, and hotels.
to using direct debit, which is then called electronic direct debit (German: Elektronisches Lastschriftverfahren,
abbr. ELV). The point-of-sale terminal reads the bank 6.15 Hungary
sort code and account number from the card but instead
of handling the transaction through the Girocard network In Hungary debit cards are far more common and popular
it simply prints a form, which the customer signs to autho- than credit cards. Many Hungarians even refer to their
rise the debit note. However, this method also avoids any debit card (betti krtya) mistakenly using the word
verication or payment guarantee provided by the net- for credit card (hitelkrtya).* [22]
work. Further, customers can return debit notes by notifying their bank without giving a reason. This means
that the beneciary bears the risk of fraud and illiquid- 6.16 India
ity. Some business mitigate the risk by consulting a proprietary blacklist or by switching to Girocard for higher The debit card had limited popularity in India as the mertransaction amounts.
chant is charged for each transaction. The debit card was
Around 2000, an Electronic Purse Card was introduced, mostly used for ATM transactions. RBI has announced
dubbed Geldkarte (money card). It makes use of the that such fees are not justied so the transaction has no
smart card chip on the front of the standard issue debit processing fee.* [23] Most Indian banks issue Visa debit

8
cards, though some banks (like SBI and Citibank India)
also issue Maestro cards. The debit card transactions are
routed through Visa or MasterCard networks in India and
overseas rather than directly via the issuing bank.

6 DEBIT CARDS AROUND THE WORLD

plied by the card issuer.

A number of card issuers also provide prepaid debit card

accounts primarily for use as gift cards / vouchers or for
added security and anonymity online. These may be disThe National Payments Corporation of India (NPCI) has posable or reloadable and are usually either Visa or Maslaunched a new card called RuPay.* [24] It is similar terCard branded.
to Singapore's NETS and Mainland China's UnionPay
Previous system (defunct since 28 February 2014):
*
[25]* [26]
Laser was launched by the Irish banks in 1996 as an
extension of the existing ATM and Cheque guarantee
card systems that had existed for many years. When
6.17 Indonesia
the service was added, it became possible to make payForeign-owned brands issuing Indonesian debit cards ments with a multifunctional card that combined ATM,
include Visa, Maestro, MasterCard, and MEPS. cheque and debit card and international ATM facilities
Domestically-owned debit card networks operating in through MasterCard Cirrus or Visa Plus and sometimes
Indonesia include Debit BCA (and its Prima network's the British Link ATM system. Their functionality was
similar to the British Switch card.
counterpart, Prima Debit) and Mandiri Debit.

6.18 Iraq
Iraq's two biggest state-owned banks, Radain Bank and
Rasheed Bank, together with the Iraqi Electronic Payment System (IEPS) have established a company called
International Smart Card, which has developed a national
credit card called 'Qi Card', which they have issued since
2008. According to the company's website: 'after less
than two years of the initial launch of the Qi card solution, we have hit 1.6 million cardholder with the potential
to issue 2 million cards by the end of 2010, issuing about
100,000 card monthly is a testament to the huge success
of the Qi card solution. Parallel to this will be the expansion into retail stores through a network of points of sales
of about 30,000 units by 2015'

The system rst launched as a swipe & sign card and

could be used in Ireland in much the same way as a credit
card and were compatible standard card terminals (online or oine, although they were usually processed online). They could also be used in cardholder-not-present
transactions over the phone, by mail or on the internet
or for processing recurring payments. Laser also oered
'cash back' facilities where customers could ask retailers
(where oered) for an amount of cash along with their
transaction. This service allowed retailers to reduce volumes of cash in tills and allowed consumers to avoid having to use ATMs. Laser adopted EMV 'Chip and PIN'
security in 2002 in common with other credit and debit
cards right across Europe. In 2005, some banks issued
customers with Lasers cards that were cobranded with
Maestro. This allowed them to be used in POS terminals
overseas, internet transactions were usually restricted to
sites that specically accepted Laser.

Since 2006, Irish banks have progressively replaced Laser

with international schemes, primarily Visa Debit and by
Today, Irish debit cards are exclusively Chip and PIN and 28 February 2014 the Laser Card system had been withalmost entirely Visa Debit. These can be used anywhere drawn entirely and is no longer accepted by retailers.
the Visa logo is seen and in much the same way as a credit
card. MasterCard debit is also used by a small minority
of institutions and operates in a very similar manner.
6.20 Israel

6.19 Ireland

Irish debit cards are normally multi-functional and combine ATM card facilities. The cards are also sometimes The Israel bank card system is somewhat confusing to
used for authenticating transactions together with a card newcomers, comprising a blend of features taken from
dierent types of cards. What may be referred to as
reader for 2-factor authentication on online banking.
a credit card, is most likely to be a deferred debit card
The majority of Irish Visa Debit cards are also enabled on an associated bank current account, the most comfor contactless payment for small, frequent transactions mon type of card in Israel, somewhat like the situation
(with a maximum value of 15 or 30). Three consecu- in France, though the term debit cardis not in comtive contactless transactions are allowed, after which, the mon usage. Cards are nearly universally called cartis
card software will refuse contactless transactions until a eshrei () , literally, credit card, a term
standard Chip and PIN transaction has been completed which may bely the card's characteristics. Its main feaand the counter resets. This measure was put in place to ture may be a direct link to a connected bank account
minimise issuers' exposure to fraudulent charges.
(through which they are mostly issued), with the total
The cards are usually processed online, but some cards value of the transactions made on the card being debited
can also be processed oine depending on the rules ap- from the bank account in full on a regular date once a

6.21

Italy

month, without the option to carry the balance over; indeed certain types of transactions (such as online and/or
foreign currency) may be debited directly from the connected bank account at the time of the transaction. Any
such limited credit enjoyed is a result of the customer's
assets and credibility with the bank, and not granted by
the credit card company.* [27] The card usually enables
immediate ATM cash withdrawals & balance inquiries
(as debit cards do), instalment & deferred charge interest free transactions oered by merchants (also applicable in Brazil), interest bearing instalment plans/deferred
charge/revolving credit which is transaction specic at the
point of sale (though granted by the issuer, hence the interest), and a variety of automated/upon request types of
credit schemes including loans, some of which revolve
or resemble the extended payment options sometimes offered by charge cards.

9
(branded asVisa BasicorVisa Classic) to its customers - sometimes even in the form of revolving credit
card.
Credit/debit card transactions in Israel are not PIN based
(other than at ATMs) and it is only in recent years that
EMV chip smart cards have begun to be issued, with the
Bank of Israel ordering the banks and credit card companies - in 2013 - to switch customers to credit cards with
the EMV security standard within 3.5 years.* [32]

6.21 Italy
Debit cards are quite popular in Italy. There are both
classic and prepaid cards. The main classic debit card
in Italy is Bancomat/PagoBancomat: this kind of card
is issued by Italian banks. Bancomat is the commercial
brand for the cash withdrawal circuit, while PagoBancomat is used for POS transactions. Unlike other European countries such as UK, only a few Italian banks
are issuing Visa/MasterCard debit cards (such as Intesa
Sanpaolo NextCard). The main international debit circuit used by Italian banks is Maestro: for this reason almost every debit card issued in Italy has both PagoBancomat and Maestro logos, with Bancomat/PagoBancomat
being used in Italy and the Maestro circuit when abroad.
Sometimes, instead of using the Maestro circuit, the Bancomat/PagoBancomat debit card is issued along with VPay or Visa Electron logos, or sometimes with credit card
functions (so you get a dual-mode card). In this last case,
only the credit-card mode is allowed for abroad/Internet
transactions, while the debit card mode is used only in
Italy. The most popular prepaid debit card isPostepay
. It is issued by Poste italiane S.p.A., and runs on the
Visa Electron circuit. It can be used on Poste Italiane's
ATMs (Postamat) and on Visa's Electron-compatible
bank ATMs all over the world. It has no fees when used
on the Internet and in POS-based transactions. Other
cards are issued by other companies, such as Vodafone
CashCard, Banca Popolare di Milano's Carta Jeans and
Carta Moneta Online.

Thus the truedebit card is not so common in Israel,

though it has existed since 1994. It is oered by two
credit companies in Israel: One is ICC, short for Israeli Credit Cards(referred to asCAL, an acronym
formed from its abbreviation in Hebrew), which issues it
in the form of a Visa Electron card valid only in Israel.
It is oered mainly through the Israel Post (post oce)
bank* [28] (which is not allowed, by regulation, to oer
any type of credit) or through Israel Discount Bank, its
main owner (where it is branded as Discount Money
Keycard). This branded Israel Discount Bank branded
debit card also oered as valid worldwide card, either as
Visa Electron or MasterCard Debit cards.* [29] The second debit card is oered by the Isracard consortium to its
aliate banks and is brandedDirect. It is valid only in
Israel, under its local & unique - though immensely popular - private label brand, asIsracard Direct(which was
known asElectro Chequeuntil 2002 and while the local
brand Isracard is often viewed as a MasterCard for local
use only). Since 2006, Isracard has also oered an international version, branded MasterCard Direct, which
is less common. These two debit card brands operate ofine in Israel (meaning the transaction operates under the
credit cards systems & debited ocially from the cardholder account only few days later, after being processed
- though reected on the current account immediately).
In 2014 the Isracard Direct card (a.k.a. the valid only in 6.22 Japan
Israel version) was relaunched as Isracash,* [30] though
the former subbrand still being marketed - & replaced In Japan people usually use their cash cards (
kyasshu kdo), originally intended only for use
ICC Visa Electron as Israel Post bank debit card.* [31]
with cash machines, as debit cards. The debit functionOverall, banks routinely oer deferred debit cards to their ality of these cards is usually referred to as J-Debit (
new customers, with truedebit cards usually oered Jeidebitto), and only cash cards from certain
only to those who cannot obtain credit. These latter cards banks can be used. A cash card has the same size as a
are not attractive to the average customer since they at- Visa/MasterCard. As identication, the user will have to
tract both a monthly fee from the credit company and a enter his or her four-digit PIN when paying. J-Debit was
bank account fee for each day's debits. Isracard Direct started in Japan on March 6, 2000. However, J-Debit has
is by far more common than the ICC Visa Electron debit not been that popular since then.
card. Banks who issue mainly Visa cards will rather oer
electronic use, mandate authorized transaction only, un- Suruga Bank began service of Japan's rst Visa Debit in
formally known as Ebank, oers a
embossed version of Visa Electron deferred debit cards 2006. Rakuten Bank,
Visa debit card.* [33]

10

6 DEBIT CARDS AROUND THE WORLD

Resona Bank and The Bank of Tokyo-Mitsubishi UFJ has handed over contractual responsibilities to its membank also oer a Visa branded debit card.* [34]* [35]
ber banks through who now oer competing contracts.
The system is organised through a special banking association Currence set up specically to coordinate access to payment systems in the Netherlands. Interpay,
6.23 Kuwait
a legal predecessor of Equens, was ned 47 million in
In Kuwait, all banks provide a debit card to their account 2004, but the ne was later dropped, and a related ne
holders. This card is branded as KNET, which is the cen- for banks was lowered from 17 million to 14 million.
tral switch in Kuwait. KNET card transactions are free Per-transaction fees are between 5-10 eurocents, dependfor both customer and the merchant and therefore KNET ing on volume.
debit cards are used for low valued transactions as well. Credit card use in the Netherlands is very low, and most
KNET cards are mostly co-branded as Maestro or Visa credit cards cannot be used with EFTPOS, or charge very
Electron which makes it possible to use the same card high fees to the customer. Debit cards can often, though
outside Kuwait on any terminal supporting these payment not always, be used in the entire EU for EFTPOS. Most
schemes.
debit cards are Maestro cards. Visa debit cards are often

6.24 Malaysia
In Malaysia, the local debit card network is operated
by the Malaysian Electronic Clearing Corporation (MyClear), which had taken over the scheme from MEPS
in 2008. The new name for the local debit card in
Malaysia is MyDebit, which was previously known as either bankcard or e-debit. Debit cards in Malaysia are now
issued on a combo basis where the card has both the local
debit card payment application as well as having that of
an International scheme (Visa or MasterCard). The same
card also acts as the ATM card for cash withdrawals.

not accepted, V PAY cards are accepted at most locations. In 2011 spending money using debit cards rose to
83 billion euro whilst cash spending dropped to 51 billion
euro and creditcard spending grew to 5 billion.* [36]
Electronic Purse Cards (called Chipknip) were introduced in 1996, but have never become very popular. The
system was abolished at the end of 2014.

6.27 New Zealand

EFTPOS (electronic fund transfer at point of sale) in New

Zealand is highly popular. In 2006, 70 percent of all retail
transactions were made by Eftpos, with an average of 306
Eftpos transaction being made per person. At the same
time, there were 125,000 Eftpos terminals in operation
6.25 Mexico
(one for every 30 people), and 5.1 million Eftpos cards in
*
In Mexico, many companies use a type of debit card circulation (1.27 per capita). [37]
called a payroll card (tarjeta de nmina), in which they The system involves the merchant swiping (or inserting)
deposit their employee's payrolls, instead of paying them the customer's card and entering the purchase amount.
in cash or through checks. This method is preferred in Point of sale systems with integrated EFTPOS often
many places because it is a much safer and secure alterna- sent the purchase total to the terminal and the customer
tive compared to the more traditional forms of payment. swipes their own card. The customer then selects the account they wish to use: Current/Cheque (CHQ), Savings
(SAV), or Credit Card (CRD), before entering in their
6.26 Netherlands
PIN. After a short processing time in which the terminal
contacts the EFTPOS network and the bank, the transIn the Netherlands using EFTPOS is known as pinnen action is approved (or declined) and a receipt is printed.
(pinning), a term derived from the use of a Personal Iden- The EFTPOS system is used for credit cards as well, with
tication Number. PINs are also used for ATM trans- a customer selecting Credit Card and entering their PIN,
actions, and the term is used interchangeably by many or for older credit cards without loaded PIN, pressing
people, although it was introduced as a marketing brand OK and signing their receipt with identication through
for EFTPOS. The system was launched in 1987, and in matching signatures. Fixed EFTPOS terminals in most
2010 there were 258,585 terminals throughout the coun- businesses utilise the public switched telephone network
try, including mobile terminals used by delivery services to contact the EFTPOS network, either utilising dediand on markets. All banks oer a debit card suitable for cated phone lines or sharing the merchant's voice line (esEFTPOS with current accounts.
pecially in smaller businesses). The uptake of broadband
PIN transactions are usually free to the customer, but internet in the 21st century has seen some terminals move
the retailer is charged per-transaction and monthly fees. to internet protocol connections.
Equens, an association with all major banks as its mem- Virtually all retail outlets have EFTPOS facilities, so
bers, runs the system, and until August 2005 also charged much that retailers without EFTPOS have to advertise
for it. Responding to allegations of monopoly abuse, it so. In addition, an increasing number of mobile opera-

6.29

Poland

tor, such as taxis, stall holders and pizza deliverers have

mobile EFTPOS systems. The system is made up of
two primary networks: EFTPOS NZ, which is owned
by VeriFone* [38] and Paymark Limited (formerly Electronic Transaction Services Limited), which is owned by
ANZ Bank New Zealand, ASB Bank, Westpac and the
Bank of New Zealand.* [39] The two networks are intertwined and highly sophisticated and secure, able to handle
huge volumes of transactions during busy periods such
as the lead-up to Christmas: on 24 December 2012, the
Paymark network alone recorded an average of 132 transactions per second between 12:00 and 13:00.* [40] Network failures are rare, but when they occur they cause
massive disruption, resulting in major delays and loss of
income for businesses. Most businesses have to resort to
manual zip-zapswipe machines in such case. Newer
POS-based terminals have the ability tocapturetransactions in the event of a communications break-down - instead of entering a PIN, the customer signs their receipt
and the transaction is approved on a matching signature,
The transaction details are stored and sent for processing
once the connection to the network is restored. A notable
example of this occurs on the Cook Strait ferries, where
in the middle of Cook Strait there is no mobile phone reception to connect to the EFTPOS network.
Depending on the user's bank, a fee may be charged for
use of EFTPOS. Most youth accounts (the minimum age
to obtain an Eftpos card from most banks in New Zealand
is 13 years) and an increasing number of 'electronic transaction accounts' do not attract fees for electronic transactions, meaning the use of Eftpos by younger generations
has become ubiquitous and subsequently cash use has become rare. Typically merchants don't pay fees for transactions, most only having to pay for the equipment rental.
One of the disadvantages of New Zealand's wellestablished EFTPOS system is that it is incompatible with
overseas systems and non-face-to-face purchases. In response to this, many banks since 2005 have introduced
international debit cards such as Maestro and Visa Debit
which work online and overseas as well as on the New
Zealand EFTPOS system.

6.28 Philippines
In the Philippines, all three national ATM network consortia oer proprietary PIN debit. This was rst offered by Express Payment System in 1987, followed by
Megalink with Paylink in 1993 then BancNet with the
Point-of-Sale in 1994.

11
Megalink launched Paylink EFTPOS system in 1993.
Terminal services are provided by Equitable Card Network on behalf of the consortium. Service is available in
2,000 terminals, mostly in Metro Manila.
BancNet introduced their point of sale system in 1994
as the rst consortium-operated EFTPOS service in the
country. The service is available in over 1,400 locations
throughout the Philippines, including second and thirdclass municipalities. In 2005, BancNet signed a Memorandum of Agreement to serve as the local gateway for
China UnionPay, the sole ATM switch in the People's Republic of China. This will allow the estimated 1.0 billion
Chinese ATM cardholders to use the BancNet ATMs and
the EFTPOS in all participating merchants.
Visa debit cards are issued by Union Bank of the Philippines (e-Wallet & eon), Chinatrust, Equicom Savings
Bank (Key Card & Cash Card), Banco De Oro, HSBC,
HSBC Savings Bank, Sterling Bank of Asia (Visa ShopNPay prepaid and debit cards)& EastWest Bank. Union
Bank of the Philippines cards, EastWest Visa Debit Card,
Equicom Savings Bank & Sterling Bank of Asia EMV
cards which can also be used for internet purchases.
Sterling Bank of Asia has released its rst line of prepaid
and debit Visa cards with EMV chip.
MasterCard debit cards are issued by Banco de Oro,
Security Bank (Cashlink & Cash Card) & Smart Communications (Smart Money) tied up with Banco De Oro.
MasterCard Electronic cards are issued by BPI (Express
Cash) and Security Bank (CashLink Plus).
Originally, all Visa and MasterCard based debit cards in
the Philippines are non-embossed and are marked either
forElectronic Use Only(Visa/MasterCard) orValid
only where MasterCard Electronic is Accepted(MasterCard Electronic). However, EastWest Bank started to
oer embossed Visa Debit Cards without the for Electronic Use Onlymark. Paypass Debit MasterCard from
other banks also have embossed labels without the for
Electronic Use Onlymark. Unlike credit cards issued
by some banks, these Visa and MasterCard-branded debit
cards do not feature EMV chips, hence they can only be
read by the machines through swiping.

6.29 Poland

In Poland, the rst system of electronic payments was operated by Orbis, which later was changed to PolCard in
1991 (which also issued its own cards) and then that system was bought by First Data Poland Holding SA. In the
Express Payment System or EPS was the pioneer mid 90's international brands such as Visa, MasterCard,
provider, having launched the service in 1987 on behalf or the unembossed Visa Electron or Maestro were introof the Bank of the Philippine Islands. The EPS service duced.
has subsequently been extended in late 2005 to include Visa Electron and Maestro work as a standard debit cards
the other Expressnet members: Banco de Oro and Land - the transactions are debited instantly, although it may
Bank of the Philippines. They currently operate 10,000 happen on some occasions, that a transaction is processed
terminals for their cardholders.
with some delay (hours, up to one day). These cards do

12
not possess the options that credit cards have.

6 DEBIT CARDS AROUND THE WORLD

Nearly every transaction, regardless of brand or system, is
processed as an immediate debit transaction. Non-debit
transactions within these systems have spending limits
that are strictly limited when compared with typical Visa
or MasterCard accounts.

In the late 2000s contactless cards started to being introduced. The rst technology to be used was MasterCard PayPass, later joined by Visa's payWave. This payment method is now universal and accepted almost everywhere. In a everyday use this payment method is always
called Paypass. Almost all business and stores in Poland 6.32
accept debit and credit cards.

Saudi Arabia

In Saudi Arabia, all debit card transactions are routed

through Saudi Payments Network (SPAN), the only electronic payment system in the Kingdom and all banks
are required by the Saudi Arabian Monetary Agency
(SAMA) to issue cards fully compatible with the network.
It connects all point of sale (POS) terminals throughout
the country to a central payment switch which in turn reThere are also some banks that do not possess an idenroutes the nancial transactions to the card issuer, local
tication system to allow customers to order debit cards
bank, Visa, Amex or MasterCard.
online.
As well as its use for debit cards, the network is also used
for ATM and credit card transactions.
In the mid 2010s Polish banks started to replace unembossed cards with embossed electronic cards such as
Debit Master Card and Visa Debit, allowing the customers to own a card that has all qualities of a credit
card (given that fact that credit cards are not popular in
Poland).

6.30 Portugal
In Portugal, debit cards are accepted almost everywhere:
ATMs, stores, and so on. The most commonly accepted
are Visa and MasterCard, or the unembossed Visa Electron or Maestro. Regarding Internet payments debit cards
cannot be used for transfers, due to its unsafeness, so
banks recommend the use of 'MBnet', a pre-registered
safe system that creates a virtual card with a pre-selected
credit limit. All the card system is regulated by SIBS, the
institution created by Portuguese banks to manage all the
regulations and communication processes proply. SIBS'
shareholders are all the 27 banks operating in Portugal.

6.33 Singapore
Singapore's debit service is managed by the Network
for Electronic Transfers (NETS), founded by Singapore
s leading banks and shareholders namely DBS, Keppel
Bank, OCBC and its associates, OUB, IBS, POSB, Tat
Lee Bank and UOB in 1985 as a result of a need for a
centralised e-Payment operator.

However, due to the banking restructuring and mergers, the local banks remaining were UOB, OCBC, DBSPOSB as the shareholders of NETS with Standard Chartered Bank to oer NETS to their customers. However,
DBS and POSB customers can use their network atms on
6.31 Russia
their own and not be shared with UOB, OCBC or SCB
(StanChart). The mega failure of 5 July 2010 of POSBIn addition to Visa, MasterCard and American Express, DBS ATM Networks (about 97,000 machines) made the
there are some local payment systems based in general on government to rethink the shared ATM system again as
Smart Card technology.
it aected the NETS system too.
In 2010, in line with the mandatory EMV system,
Local Singapore Banks started to reissue their Debit
Visa/MasterCard branded debit cards with EMV Chip
compliant ones to replace the magnetic stripe system.
Banks involved included NETS Members of POSB-DBS,
UOB-OCBC-SCB along with the SharedATM alliance
(NON-NETS) of HSBC, Citibank, State Bank of India,
Zolotaya Korona. This card brand was created in and Maybank. Standard Chartered Bank (SCB) is also
1994. Zolotaya Korona is based on CFT technology. a SharedATM alliance member. Non branded cards of
POSB and Maybank local ATM Cards are kept without
STB Card. This card uses the classic magnetic stripe a chip but have a Plus or Maestro sign which can be used
technology. It almost fully collapsed after 1998 to withdraw cash locally or overseas.
(GKO crisis) with STB bank failure.
Maybank Debit MasterCards can be used in Malaysia just
Sbercard. This payment system was created by
Sberbank around 19951996. It uses BGS Smartcard Systems AG smart card technology that is,
DUET. Sberbank was a single retail bank in the
Soviet Union before 1990. De facto this is a payment system of the SberBank.

Union Card. The card also uses the classic magnetic

stripe technology. This card brand is on the decline.
These accounts are being reissued as Visa or MasterCard accounts.

like a normal ATM or Debit MEPS card.

Singapore also uses the e-purse systems of NETS CASHCARD and the CEPAS wave system by EZ-Link and
NETS.

6.36

United States

6.34 Spain

13
cards and not credit cards.

Debit cards are accepted in a relatively larger amount of

stores, both large and small in Spain. Banks often oer 6.36 United States
debit cards for small fees in connection with a chequing
account. These cards are used more often than credit In the U.S., EFTPOS is universally referred to simply
cards at ATMs because it is a cheaper alternative.
as debit. The same interbank networks that operate the
ATM network also operate the POS network. Most
interbank networks, such as Pulse, NYCE, MAC, Tyme,
SHAZAM, STAR, and so on, are regional and do not
6.35 United Kingdom
overlap, however, most ATM/POS networks have agreeIn the UK debit cards (an integrated EFTPOS system) ments to accept each other's cards. This means that cards
are an established part of the retail market and are widely issued by one network will typically work anywhere they
accepted both by bricks and mortar stores and by inter- accept ATM/POS cards for payment. For example, a
net stores. The term EFTPOS is not widely used by the NYCE card will work at a Pulse POS terminal or ATM,
public; debit card is the generic term used. Cards com- and vice versa. Debit cards in the United States are
monly in circulation include Maestro (previously Switch), usually issued with a Visa, MasterCard, Discover* [43]
Debit MasterCard, Visa Debit (previously Visa Delta) or American Express* [44] logo allowing use of their
and Visa Electron. Banks do not charge customers for signature-based networks.
EFTPOS transactions in the UK, but some retailers make U.S. Federal law caps the liability of a U.S. debit card
small charges, particularly where the transaction amount user in case of loss or theft is up to $50 USD if the loss or
in question is small. The UK has converted all debit cards theft is reported to the issuing bank in two business days
in circulation to Chip and PIN (except for Chip and Sig- after the customer notices the loss.* [45] Most banks will,
nature cards issued to people with certain disabilities), however, set this limit to $0 for debit cards issued to their
based on the EMV standard, to increase transaction se- customers which are linked to their checking or savings
curity; however, PINs are not required for internet trans- account. Bank of America, for example, ran advertiseactions (though some banks employ additional security ments as far back as 2009, promising customers using its
measures for online transactions such as Veried by Visa debit card zero liability for fraud, and restoration of the
and MasterCard Secure Code).
amount taken in one day, subject to certain requirements.
In the United Kingdom, banks started to issue debit cards
in the mid-1980s in a bid to reduce the number of cheques
being used at the point of sale, which are costly for the
banks to process; the rst bank to do so was Barclays with
the Barclays Connect card. As in most countries, fees
paid by merchants in the United Kingdom to accept credit
cards are a percentage of the transaction amount,* [41]
which funds card holders' interest-free credit periods as
well as incentive schemes such as points, airmiles or cashback. Debit cards do not usually have these characteristics, and so the fee for merchants to accept debit cards is a
low xed amount, regardless of transaction amount.* [41]
For very small amounts, this means it is cheaper for a
merchant to accept a credit card than a debit card. Although merchants won the right through The Credit Cards
(Price Discrimination) Order 1990 to charge customers
dierent prices according to the payment method, few
merchants in the UK charge less for payment by debit
card than by credit card, the most notable exceptions being budget airlines, travel agents and IKEA.* [42] Most
debit cards in the UK lack the advantages oered to holders of UK-issued credit cards, such as free incentives
(points, airmiles, cashback etc. (the Tesco Bank debit
card being one exception)), interest-free credit and protection against defaulting merchants under Section 75 of
the Consumer Credit Act 1974. Almost all establishments in the United Kingdom that accept credit cards also
accept debit cards (although not always Visa Electron),
but a minority of merchants, for cost reasons, accept debit

The fees charged to merchants on oine debit purchases

and the lack of fees charged merchants for processing
online debit purchases and paper checkshave prompted
some major merchants in the U.S. to le lawsuits against
debit-card transaction processors such as Visa and MasterCard. In 2003, Visa and MasterCard agreed to settle
the largest of these lawsuits and agreed to settlements of
billions of dollars.* [46]
Some consumers prefer credittransactions because
of the lack of a fee charged to the consumer/purchaser;
also, a few debit cards in the U.S. oer rewards for usingcredit(for example, S&T Bank'sPreferred Debit
Rewards Card* [47]). However, since creditcosts
more for merchants, many terminals at PIN-accepting
merchant locations now make thecreditfunction more
dicult to access. For example, if you swipe a debit card
at Wal-Mart or Ross in the U.S., you are immediately presented with the PIN screen for online debit; to use oine
debit you must press cancelto exit the PIN screen,
then press crediton the next screen.
2009-07-08: Minimum and Maximum Charges for Visa
in USA
The Merchants Agreement for Visa states (page 9, or
14/141 in PDF):
Always honor valid Visa cards in your acceptance category, regardless of the dollar amount of the purchase.
Imposing minimum or maximum purchase amounts in

14

REFERENCES

order to accept a Visa card transaction is a violation of used. If the bank rejects a transaction, for instance, bethe Visa rules.* [48]
cause it is not at a recognized drug store, then it would
As a result of the Dodd-Frank Act, U.S. merchants can be causing harm and confusion to the cardholder. In the
now set a minimum purchase amount on credit cards (but United States, not all medical service or supply stores are
capable of providing the correct information so an FSA
not debit cards), not to exceed $10. * [49]* [50]
debit card issuer can honor every transaction-if rejected
or documentation is not deemed enough to satisfy regulations, cardholders may have to send in forms manually.
6.36.1 FSA, HRA, and HSA debit cards
In the United States, an FSA debit card only allows medical expenses. It is used by some banks for withdrawals
from their FSAs, medical savings accounts (MSA), and
health savings accounts (HSA) as well. They have Visa
or MasterCard logos, but cannot be used asdebit cards
, only as credit cards, and they are not accepted by
all merchants that accept debit and credit cards, but only
by those that accept FSA debit cards. Merchant codes
and product codes are used at the point of sale (required
by law by certain merchants by certain dates in the USA)
to restrict sales if they do not qualify. Because of the
extra checking and documenting that goes on, later, the
statement can be used to substantiate these purchases for
tax deductions. In the occasional instance that a qualifying purchase is rejected, another form of payment must
be used (a check or payment from another account and a
claim for reimbursement later). In the more likely case
that non-qualifying items are accepted, the consumer is
technically still responsible, and the discrepancy could be
revealed during an audit. A small but growing segment
of the debit card business in the U.S. involves access to
tax-favored spending accounts such as FSAs, HRAs, and
HSAs. Most of these debit cards are for medical expenses, though a few are also issued for dependent care
and transportation expenses.
Traditionally, FSAs (the oldest of these accounts) were
accessed only through claims for reimbursement after incurring, and often paying, an out-of-pocket expense; this
often happens after the funds have already been deducted
from the employee's paycheck. (FSAs are usually funded
by payroll deduction.) The only method permitted by the
Internal Revenue Service (IRS) to avoid this doubledippingfor medical FSAs and HRAs is through accurate and auditable reporting on the tax return. Statements
on the debit card that say for medical uses onlyare
invalid for several reasons: (1) The merchant and issuing
banks have no way of quickly determining whether the
entire purchase qualies for the customer's type of tax
benet; (2) the customer also has no quick way of knowing; often has mixed purchases by necessity or convenience; and can easily make mistakes; (3) extra contractual clauses between the customer and issuing bank would
cross-over into the payment processing standards, creating additional confusion (for example if a customer was
penalized for accidentally purchasing a non-qualifying
item, it would undercut the potential savings advantages
of the account). Therefore, using the card exclusively for
qualifying purchases may be convenient for the customer,
but it has nothing to do with how the card can actually be

6.37 Uruguay
Debit cards are accepted in a relatively large number of
stores, both large and small in Uruguay; but their use
has so far remained low as compared to credit cards at
ATMs. Since August 2014, with the Financial Inclusion
Law coming into force, end consumers obtain a 4% VAT
deduction for using debit cards in their purchases.* [51]

7 See also
Alternative Payments
ATM card
Debit card cashback
Electronic funds transfer
Electronic Payment Services
EPAS
Interac
Inventory information approval system, a point-ofsale technology used with FSA debit cards
Payment card
Payments Council
Payoneer
Point-of-sale (POS)
USA Technologies Inc.

8 References
[1] Martin, Andrew (January 4, 2010). How Visa, Using
Card Fees, Dominates a Market. New York Times. Retrieved 2010-01-06.
[2] Pepper Prepaid Preport Extract(PDF). PEPPER. Retrieved 2012-04-09.
[3] Perine, Martha. Reaching the Unbanked and Underbanked. Stlouisfed.org. Retrieved 2012-12-30.

15

[4] CreditCards.com (2006-03-22).Prepaid debit card benets and disadvantages. Creditcards.com. Retrieved
2012-12-30.
[5] Oakland Residents Will Be Slammed With Fees If They
Use City IDs As Debit Cards. Consumerist.
[6] Chicago Transit Prepaid Debit Cards Also Fully Loaded
With Fees. Consumerist.
[7] Oakland Decides It Doesn't Need All Those Fees On
Its Combination ID/Debit Cards Consumerist. Consumerist.
[8] City Of Oakland Takes A Step In Right Direction.
Defend Your Dollars.

[26] India card to be called Rupay. The Times Of India.

2011-03-21.
[27] Szajnbrum, Tzvi. Credit Cards and Lines of Credit.
Retrieved 2013-11-13.
[28] Visa CAL Debit Card - Israel Postal Company.
web.archive.org. Retrieved 2015-12-01.
[29] ( " - "PDF ).discountbank.co.il.
[30] isracash. isracard.co.il.
[31] ." - " israelpost.co.il.
[32] Avissar, Irit (2013-08-20). BoI requires switch to smart
credit cards. Globes. Retrieved 2013-11-13.

[9] Federal government chooses direct deposit and prepaid

cards over mailing checks, BankCreditNews, 15 Apr
2013, Accessed 2013-04-22.

[33] " ". Rakutenbank.co.jp. Retrieved 2012-12-30.

[10] AGA report nds government prepaid cards oer numerous advantages. Bank Credit News. July 12, 2013.
Retrieved 2013-07-18.

[34] " Visa

". Resona-gr.co.jp. Retrieved
2012-12-30.

[11] http://www.maestrocard.com/cgi-bin/wheretouse.cgi?
country=002&Select+a+country.x=14&Select+a+
country.y=2&region=01

[35] " UFJ-VISA UFJ

". bk.mufg.jp. Retrieved 2014-05-23.
[36] DNBulletin: Cash payments further down - De Nederlandsche Bank. Dnb.nl. 2012-06-12. Retrieved 201212-30.

[12] http://g1.globo.com/economia/
seu-dinheiro/noticia/2014/05/
cartoes-de-debito-superam-barreira-dos-100-milhoes-em-2013-diz-bc.
[37] Payment and Settlement Systems in New Zealand.
html
Reserve Bank of New Zealand. March 2008. Retrieved
2010-09-19.
[13] Cory Toth - Encyclopedia Of Saskatchewan (2012-0326). The Encyclopedia of Saskatchewan | Details.
Esask.uregina.ca. Retrieved 2012-12-30.
[14] Consumers and Changing Retail Markets. Canadas
Oce of Consumer Aairs (OCA).

[38] About EFTPOS NZ. EFTPOS NZ. Retrieved 201412-09.

[39] New Zealand's leading electronic payments provider.
Paymark. Retrieved 2012-12-30.

[15] NYCE - Participating Canadian Financial Institutions

[40] Wade, Amelia (26 December 2012). Huge Boxing Day
. NYCE Payment network.
savings on oer. The New Zealand Herald. Retrieved
2013-05-15.
[16] FCAC - For the Industry - Reference Documents.
Fcac-acfc.gc.ca. 2011-05-17. Retrieved 2012-12-30.
[17] Af Jesper Stein Sandal Mandag, 1. september 2008 - 7:09.
Dankortet fylder 25 r i dag(in Danish). Version2.dk.
Retrieved 2012-12-30.
[18] PBS rsrapport 2007(PDF). Pbs.dk. Retrieved 201212-30.
[19] There is no interest applied per se but the extra cost for a
deferred debit card is around 10 a year.
[20] http://www.cartes-bancaires.com/spip.php?article274
[21] https://www.service-public.fr/particuliers/vosdroits/
F31241 in French.
[22] RBI xes ve free ATM withdrawals. Deccan Herald.
[23] RBI says fee on debit card usage not permissible. The
Indian Express. September 2013.
[24] RuPay card Launch. NPCI. March 2011.
[25] India card to be called Rupay.

[41] Electronic payment system pricing. RSTO electronicpayments.co.uk.

[42] IKEA FAQ 70p charge on credit cards in IKEA stores
. IKEA.
[43] Discover Debit. PULSE Network.
[44] Prepaid Cards. American Express.
[45] Electronic Fund Transfer Act(pdf). Federal Reserve,
Consumer Compliance Handbook. November 2013. p.
11.
[46] Martin, Andrew (2010-01-05). How Visa, Using Card
Fees, Dominates a Market. The New York Times.
[47] S&T Bank - Preferred Account - Debit Rewards Card
. Stbank.com. Retrieved 2012-12-30.
[48] Access Denied (PDF). Retrieved 2015-12-01.
[49] Ask Visa | Visa USA. Usa.visa.com. 2011-06-30.
Retrieved 2012-12-30.

16

[50] Johnson, Andrew (2010-08-25). Emboldened, Merchants Expected To Push Cheaper Payments. PaymentsSource Article. Retrieved 2012-12-30.
[51] Uruguay cuts VAT rate on electronic purchases. VAT
Live. Retrieved 2014-09-21.

REFERENCES

17

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Debit card Source: https://en.wikipedia.org/wiki/Debit_card?oldid=736992761 Contributors: The Anome, Rjstott, Kurt Jansson, Kirjtc2, Edward, Patrick, DopeshJustin, (, CesarB, Kimiko, EdH, Markb, Mbstone, Miernik, Furrykef, Topbanana, Joy, Scarequotes,
Scott Sanchez, Secretlondon, MrWeeble, Cfaerber, Rfc1394, Auric, Laney, Victor, Lupo, Radagast, Micru, Djegan, Evanluxzenburg,
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JFM, Shadowlink1014, Dcandeto, Cab88, Sonett72, Adashiel, Rich Farmbrough, Guanabot, Loganberry, Kjd, Pavel Vozenilek, MarkS,
Bender235, Evice, Sockatume, Pt, Welshie, Rimshot, Grick, Smalljim, R. S. Shaw, L.Willms, Jerryseinfeld, Pearle, PaulHanson, Jhertel, Arthena, Zippanova, Ynhockey, Snowolf, Silroquen, Wtmitchell, ProhibitOnions, Evil Monkey, Vuo, Dominic, Ceyockey, Kenyon,
Weyes, Richard Arthur Norton (1958- ), Reinoutr, Woohookitty, Uncle G, JBellis, Contele de Grozavesti, Ch'marr, Bluemoose, Sega381,
Prashanthns, Mendaliv, Sjakkalle, Rjwilmsi, Akohler, Salix alba, ElKevbo, Yamamoto Ichiro, Neilp~enwiki, Elsan, Computor, Billbennett, Grlea, Crazycomputers, Nivix, RobyWayne, DrVeghead, M7bot, WillMcC, Bdelisle, Bgwhite, Gwernol, Wavelength, John Quincy
Adding Machine, Killervogel5, Chensiyuan, Gaius Cornelius, Rsrikanth05, NawlinWiki, Aeusoes1, Janke, Wae, Jasondmath, Rwalker,
Lcmortensen, JoshFarron, Giltramirez, Bilz0r, Doncram, Jackster, Poochy, Searchme, Ageekgal, E Wing, GraemeL, NFH, Buybooks
Marius, Kungfuadam, Appleseed, Carlosguitar, BiH, DVD R W, Caerbannog, SmackBot, Jedi Davideus, C.Fred, Spag85, Niayre, Stie,
Kintetsubualo, HalfShadow, Mauls, Srnec, Yamaguchi , Gilliam, Hmains, Skizzik, Malatesta, Saros136, Kurykh, Simon123, Asclepius, Thumperward, Deli nk, Baa, Dethme0w, Mulder416, Nick Levine, Midnightcomm, COMPFUNK2, BIL, Emmanuel JARRI, Bmgoau, Alhizar, Dantadd, AlexJ, Hammer1980, SpiderJon, Katt, TenPoundHammer, Dave314159, Rivalarrival, Hi2lok, NotMuchToSay,
Kuru, Kashmiri, Accurizer, Stefan2, Paradoxsociety, Hanii Puppy, Androl, Mr Stephen, Monni95, Gclinkscales, Wizard191, Geog,
Tetrahedron93, O1ive, Radiant chains, Tawkerbot2, Fvasconcellos, Alice Mudgarden, JForget, Earthlyreason, Makeemlighter, Dub8lad1,
Willuknight, Kikumbob, Timichal, ShelfSkewed, Tingrin87, .mdk., ONUnicorn, Neelix, Macktheknifeau, Phatom87, Mapletip, Inzy, Cydebot, Cahk, Peripitus, Crossmr, Hebrides, A Softer Answer, Myscrnnm, Mdoubledragon, Starionwolf, BenShade, Kozuch, Vanished
User jdksfajlasd, Grant M, Lester112, Nachdenklich, Marek69, Rufus843, OrenBochman, Nick Number, Dawnseeker2000, AntiVandalBot, Ansett, Seaphoto, Kremmen, Fayenatic london, Zeuscho, Brian Katt, Alphachimpbot, Myanw, Berkland, JAnDbot, Kedi the
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Catgut, 28421u2232nfenfcenc, Tins128, P.B. Pilhet, DerHexer, GreenJoe, RetypePassword, MartinBot, Rettetast, Westleyd, Paranomia,
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Stuskiv, ^demonBot2, Dopeslax, Wiae, SergioGeorgini, RadiantRay, Noelgsan, Brianga, VISIONTEKTELE, CowboyBear, Dude444, Logan, Jopemon, Sabbath1993, MikeKn, Biscuittin, Tresiden, WereSpielChequers, Legion , Yintan, Greenbough, Flyer22 Reborn, Devil
deadman, Dan88888, Faradayplank, Kfkowa63, Hongkonghusain, Pjessen, Altzinn, Superush, Xandern, Martarius, MBK004, De728631,
Antiussentimnet, ClueBot, Samuel Grant, Wikievil666, Johnbradleytlh, The Thing That Should Not Be, Fadesga, Rjd0060, Brandongohwh,
Enthusiast01, Starkhorn, MyLoveLife, Hotsaucedude, Pointillist, DragonBot, Excirial, ResidueOfDesign, Solsticedhiver, John Nevard,
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Yobot, 1971, Voice99, Max, DeeMusil, South Bay, AnomieBOT, Sea0818, Sz-iwbot, Materialscientist, TheTechieGeek63,
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Mz20g7, Dbpgroup, Recognizance, 123music, Western west, Hoo man, Jschnur, Serols, Montegorx, Angelicarulez, Thelawnchair, Orenburg1, Sumone10154, Wednesdayblues, Dinamik-bot, X-Biiz, Reaper Eternal, RobertMfromLI, Minimac, Mean as custard, RjwilmsiBot, Sargdub, Lopifalko, Epark129, John of Reading, Orphan Wiki, WikitanvirBot, Jurjenb, Zollerriia, Inata, Dewritech, GoingBatty,
Solarra, Jasonanaggie, Shearonink, AvicBot, 15turnsm, Dolovis, GoldRenet, RLEEG, Mrubin22, Caspertheghost, Colourshield, Confession0791, David de Dios, FinalRapture, L Kensington, Danielfarrellnzl, Gsarwa, Donner60, Sgoldman10, Cashonthebeach, DASHBotAV, ClueBot NG, Unisubs, Gareth Grith-Jones, Intermittentgardener, Eos creggs, Aristitleism, Phazall, Frietjes, CopperSquare,
MerlIwBot, , Titodutta, HDokins, Chadsamaniego, BG19bot, C for Koala, Kndimov, Stewartjpatrick, Banana Van Mod,
Bonnyvan, Wiki13, Who.was.phone, Redztk, 4thaugust1932, Navycraft, MironGainz, GroeneGertjan, Snow Blizzard, DrCruse, Peterkortvel, BattyBot, BNG504, ChrisGualtieri, Comatmebro, CouchSurfer222, Khazar2, EuroCarGT, King Argo, Sundarsharath, Hobawido,
Telfordbuck, Guinnessjerry44, Atul32, Hoho24, Clyde Crashcup, Drag0nhandler1111, Ginsuloft, Whiletrueprintinniteloop, Amnorge,
Paul2520, FreeDebitCardStore, SSinghK, KenPAdams, SharpQuillPen, GPWikis, Mohamad Muliadi Antony, Ste-X, GrantBlk, VeganAnon36, MartynSGM, Joe Rosehail, Morran vikas, KasparBot, Crlfrncsmndzprk, Adam9007, McKinleyArt, Dominesheadshottes,
Dhruvsinghsharma, Nirrey, Philipbower647, Rejoice Ngozi usamah and Anonymous: 660

9.2

Images

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Contributors: self-made, inspired by Gnome globe current event.svg, using Information icon3.svg and Earth clip art.svg Original artist:
Vipersnake151, penubag, Tkgd2007 (clock)
File:CCardBack.svg Source: https://upload.wikimedia.org/wikipedia/commons/f/fa/CCardBack.svg License: Public domain Contributors: Own work Original artist: AlexJ
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Tango! Desktop Project. Original artist:
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minimally).

18

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9.3

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