Debit Card is an electronic payment card where the transaction amount is deducted directly from the card holder's bank account upon authorization .

1. CVV - Card Verification value
2. CVC - Card Verification code
3. It is a 3 digit code usually printed to the left of signature pane validates the card.

Hologram is a security feature that prevents duplication. It is a 3-dimentional image formed by interference of light beams.

1. RFID symbol is four curved lines radiating rightwards similar to a tilted Wi-Fi symbol.
2. It indicates that it is a contactless smartcard.

Merchant's bank that is responsible for receiving payment on behalf of merchant send authorization requests to the issuing bank through the appropriate channels.

Storekeeper or vendor who sell or providing service, receiving payment made by its customers through the credit card.

1. Credit card is an electronic payment system normally used for retail transactions.
2. A credit card enables the bearer to buy goods or services from a vendor, based on the cardholder's promise to the card issuer to payback the value later with an agreed interest.

1. Credit card based payment systems (pay later)
2. Debit card based payment systems (pay now)
3. Stored value card based payment systems (pay before)

1. Some popular macro on-line payment systems are
2. Card based payment systems
3. Electronic account transfer
4. Electronic cash payment systems
5. Mobile payment systems and internets payment systems

Payment system are classified based on
1. Money transactions
2. Processing time
3. Processing requirements
4. Security issues
5. Usability

Payment systems are generally classified into two types. They are
1. Micro electronic Payment Systems
2. Macro electronic Payment Systems

Electronic payment system ensures the transfer of value from one subject of the economy to another and plays an important role in modern monetary systems.

1. An Electronic payment system is a financial arrangement that consists an intermediator to facilitate transfer of money-substitute between a payer and a receiver.
2. It is known as liquidation, clearing system or clearing service.

1. Modern payment systems maybe physical or electronic and each has its own procedures and protocols that guide the financial institution with payment mechanisms and legal systems.
2. Standardization has allowed some of these systems to grow to globally.

1. The cryptocurrency units are created by the solution of cryptographic tasks called mining.
2. The miners not only generate new monetary units, but also initiate new transactions to the block chain.
3. As a reward, they will receive new Bitcoins. In terms of trade, the creation of cryptocurrencies may be related to the ICO (Initial Coin Offer) procedure, i.e. the ICO, aimed at gathering the initial capital necessary for the further development of the system.
4. The initial value of cryptographic currency is just the cost of consumed electricity. The secondary value is determined by the demand for the cryptocurrency.