Payment card

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Payment cards are a component of a payment system issued by financial institutions, such as banks, to customers that allows the cardholder to access funds in the customer's designated bank accounts, or through a credit account, and to make payments via electronic funds transfer and to use automated teller machines. Payment cards are issued by financial institutions, such as banks, to customers that enable the cardholder to access funds in the customer's designated bank accounts, or through a credit account, and to make payments via electronic funds transfer and to use automated (ATMs). Various names for these cards exist, including bank cards, ATM card, MAC (money access cards), client cards, key cards, cash cards, and a range of other variations.

Payment cards come in a variety of shapes and sizes, with the most common being credit cards, debit cards, charge cards, and prepaid cards being the most popular. The majority of the time, a payment card is electronically connected to an account or a group of accounts owned by the cardholder. These accounts may be deposit accounts, loan accounts, or credit accounts, and the card serves as a way of identifying the account holder to the financial institution. Stored-value cards, on the other hand, hold money on the card itself and are not need to be connected to an account at a financial institution to function.

Alternatively, it may be a smart card that carries a unique card number and security information such as an expiry date or CVVC (CVV), or a magnetic strip on the back that allows different devices to read and access information. It is possible for the card to be used as an ATM card, allowing transactions at automatic teller machines; as a debit card, linked to the client's bank account and able to be used for purchases at the point of sale; or as a credit card, attached to a revolving credit line provided by the issuing bank. This depends on the issuing bank and on the preferences of the client.