The usage of bankcards and various payment cards are extending rapidly worldwide. It is part of the daily routine in the advanced areas. There are conditions of the usage of these devices which include technical environment (hardware and software), proceeding and law regulation. The appropriate knowledge and application of these areas enable organizations to handle card transactions, card issuance and acceptance.
Legal backgroundThere are specific legal rules and regulations of bankcard usage and transaction handling which are determined by individual states, financial custody and institutions.
StandardsThere are elaborated standards in order to ensure the effective and moderate operation of plastic card usage. Standards also enable spreading of card usage and provide a common basis for the various developments.
ProceedingsThere is a defined process of card usage, transaction handling, follow up and settlement, that is determined by domestic or international organizations. To follow and comply with these rules is vital for the secure bankcard usage.
ApplicationsSeveral plastic card usage supporting applications are available on the market. These applications support solutions on different platforms and various environments. Selection of the appropriate application should be based on the need that includes business, professional and financial considerations.
ToolsThere are several tools that support the plastic card usage and operation. The most known tools are the ATM and POS devices, which are the customer’s daily point of contact during the financial transaction. These are specific devices that should be integrated into the IT system of the (card issuer or card acquirer) organization.