Credit / Debit Card Payment
Know about your usual payment methods
What is a debit card?
- Every bank offers you a debit
card as it is a form of plastic money or payment card that helps the buyers to
make purchases in a cashless environment. The money is directly deducted from
the buyers’ bank account or from the checking account. This is the safest
alternative to cash and is the most convenient form of payment system and is
very secure with the 3D security now in place.
- Almost all the banks and the
credit unions give the debit cards as soon as the account is opened in the
What is a credit card?
- Credit card is again a form of
plastic money that allows making purchases by borrowing money from the bank so
even if you do not have money the bank allows a certain amount for you to
utilize for certain period of days without interest. The borrowed money is then
paid to the bank within the “grace period” which is around 25-30 days (and this
varies according to every bank) to avoid the interest payment on the used money.
In case of failure of the making any payment, you need to pay a percentage of
money that you owe to the bank along with the interest and penalty.
What is VISA?
- Visa is a huge company offering
payment services and visa card is a card that is used to make payments by
utilizing the Visa networks and branded by the Visa Inc. a visa card can be a
debit card, credit card or prepaid card. Each visa card has a different terms
that reflects the credit worthiness of the individual.
- Visa was the first company that
provided with the first credit card in the year 1960 and is founded by Bank of
America. This is the renowned card as this gives the best in class payment
gateway services to a lot of businesses and the people using it. A Visa card
number starts with the digit 4.
What is Master Card?
- Master Card is anither huge
organisation which offers payment services like Visa. Master card is a form of
plastic money that has both debit and credit card and is incorporated by
MasterCard international. This company has its headquarters in New York, United
States. This card also varies in the security services and the
creditworthiness of an individual are designed differently.
- In the year 1966 to 1979 master
card was called “interbank” and “Mastercard” the original banks behind the
credit cards were the banks of United California bank and a bank of California.
A Master card number starts with the digit 5.
What is DISCOVER?
- This is another form of credit
card or debit card that is primarily used in the United States. Normally the
discover cars are issued by the discover bank that is formerly the greenwood
trust company. This card is issued through the discover network payment
network. This brand is supposedly the 4th largest brand after visa, MasterCard
and Amex or American Express. A Discover card number starts with the digit 6.
What is American express?
- American Express or so called
AMEX is a form of credit card issued by formulated by American Express company
that is also a famous American Multinational Financial Services that have its
headquarters in New York City, this is also known to be famously known by Amex.
This includes other financial instruments such as traveler’s cheque, charge
cards, and credit cards. An Amex card number starts with the digit 3 and is 15
digits in total as compared to other card which have 16 digits. For example:
1111 2222 3333 444 and this card has its CVV number with 4 digits such as 9999
however other cards the CVV is only 3 digits
What is PayPal?
- Paypal is an American company
famously known as PayPal Holdings International that supports the online money
transfer and this also works in a way as an electronic alternative to the
traditional paper methods like checks and money orders. People can create their
paypal account by connecting them to their bank accounts and make payments
across the internet with ease.
- SSL is known as Secured Socket
Layer. This is a standard security technology that establishes the encrypted
link so that the web server and the browser get the perfect link and every
information that passes through the link keeps all the data integral and
private and encrypted.
having SSL certificates have a key pair that is public and private key. Both
these keys work together to establish the encrypted connection and are used for