For the past 20 years, consumers have used some form of electronic commerce. As explained by González (2001) , ...a smart card can generally be defined as a plastic card with dimensions similar to traditional credit/debit cards, into which an electronic device has been incorporated to allow information storage. Frequently, it also has an integrated circuit with data processing capacity. Smart cards are normally separated into two categories: memory cards and microprocessor cards, commonly named smart cards for their capability to do data processing and the sophisticated algorithms embedded in them (isaca.org).
This paper will discuss how the Smart Card has evolved and changed the way independent consumers and companies have implemented smart card usage into their daily activities. Additionally, it will compare the advantages and disadvantages. Case in point, a Smart Card can be used to allow people to gain entry into their work place, a gated community or pay for merchandise without using cash.
What is a Smart Card?
Do you or someone you know live in a gated community? If so, to gain access into the secured area of the community requires the use of a smart card. (MIT, 1997)… The official definition of “Smart Card” is an integrated circuit card with memory capable of making decisions. Smart cards typically have three or four components: a plastic card, a set of electronic contacts, an electronic integrated circuit and, in some cases, a magnetic band. (González, 2001) …The lack of security and a fear of hackers are some of the reasons that have caused the slow growth in online interactive commercial transactions among individuals and enterprises, generally called consumer–to-business (C2B) e-commerce.
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...ic diseases. Another use is storing electronic prescriptions, as well as, encrypting patients' medical data. The cards are used in countries such as the Czech Republic, France, Germany, Sweden and South Africa. (eweek, Horowitz, 2012)
Smart cards have been in use for at least a decade, they are just starting to take off in the United States. Smart cards are much more popular in Europe than in the United States. In Europe, the health insurance and banking industries use smart cards extensively.
According to Brian Horowitz of eWeek, the market for smart cards in health care and government will reach $72 billion in value by 2016, according to a report by ABI Research. The March 22 report, "Smart Cards in Government and Healthcare Citizen ID," concludes that the smart card market will peak in 2014 and then level off at close to $15 billion. B. Horowitz, (2014).
...rder to better protect consumers. I learned that in Europe, there is a technology that supports greater cardholder verification, and there has been a great decrease in the number of people affected by financial fraud. I think that advanced technology like this should be more widely used in order to make credit card use more secure.
Wen, Y., Chao-Hsien, C., and Zang, L. (2010). The use of RFID in healthcare. Benefits and
There has been significant technological advancements over the past few decades that have revolutionized the way we live and conduct business. Radio Frequency Identification, or RFID is an example of an electronic data interchange network that has helped shape the global world in which we live. The applications of RFID technology has impacted the military, health industries, supply chain management, logistics and agriculture. There is a vast array by which RFID technology is used around us on a daily basis without us even realizing it.
Some controversy exists regarding the introduction of smart cards in the healthcare system; the controversy exists due to privacy issues, confidentiality, security and lock of understanding. In this paper, I will discuss the key arguments in favor of using smart cards, as well as the opposition of the use of such technology. The first thing to explore and to discuss is the use of smart cards in healthcare and their purpose.
increasingly dominating the purchases of many American consumers. The concept of the credit card dates back to the late 1800's, while the modern credit card took form in 1966. Since then credit card use has exploded (Woolsey par.1-2). Today, over half of the United States' population owns at least two credit cards. The United States should become a cashless society because the government would ultimately save money, there is more convenience for consumers, and money related crimes would decrease dramatically.
As we can see now-a-days, there are many replacements to card payments such as MOBILE PAYMENT options like Apple and Samsung Pay. Recently, Apple has launched finger print (TOUCH ID) payment option in its new Mac-book Pro. Almost every application has its own wallet to pay. But still, as we know that technology is any day not secured. It might not be vulnerable today. But, we cannot predict its non-vulnerability because one day or the other, it becomes vulnerable to any type of attack.
credit or debit cards accessible in one easy location and it’s even got the extra security of the
The usage of credit and debit cards have dramatically increased in the recent years. There was a projected total of 160 million credit card holders in 2012 and 654 million debit cards in 2015 (WalletHub/Nasdaq). Both credit and debit cards are methods of payment that do not require you to have cash on hand. Even though both a credit and debit card accomplish the same thing, there are many differences between the two methods of payment that could sway a customer’s choice towards one over the other.
In Italy, there is a slight shortage of medical technology, but they are up to date in terms of the medical technology that they do have. The Italian medical device market is worth $9.4 billion and is the fourth largest in Europe (Klein, T., 2015). The medical technology market is dependant on public spending, which can vary if there is a national deficit, like there was in 2014 (Klein, T., 2015). One of Italy 's strong points is that they have a universal system of connected electronic records, which can be used by almost every doctor or facility except for primary care doctors and facilities. The compatibility of this system makes it easier and faster for doctors to obtain records on a patient from different facilities. Italy’s medical technology is up to modern standards and is successful in detecting and treating
Recently, many people have focused on credit card security. The credit card as a payment and financial instrument, it does separate purchases and payments (Berthoud and Kempson 1992). Many banks provide many kinds of credit cards, for example, LLOYDS bank actually have 10 types credit cards for different customers. However, when people are enjoying the convenience for using a credit card, they almost forget these potential problems on credit card security. Especially, online credit card fraud, organized crimes for credit cards and lost/stolen cards, when people found someone stole their accounts, maybe it was too later. Therefore,
Over the last ten years people in the United State and around the world have heavily relied more on their debit or credit cards to process transactions of their purchases. In the old days it used to be when you would get your paycheck on Friday and rush to the bank during your break or lunch in order to cash withdraw your funds or deposit them into your account. It used to be where you carry cash to buy groceries, pay bills, and go shopping. Now some people don’t even set foot inside their bank branch because they are paid using direct deposit or the funds are loaded into a debit card provided by their employer. Many employers from around the globe don’t even issue paper check anymore.
Digital money is undeniably convenient; anyone who has used a credit or debit card understands this. However, the era of digital money is only beginning; rapid technological advances will continue to make paper money a remnant of the past. Several innovations are already lessening the burden in your wallet. For instance, the seemingly innocuous mobile phone is actually playing an increasing role in facilitating monetary transactions, especially in Asia. Already, in Japan, large companies such as Coca-Cola have sanctioned vending machines that are not only compatible with common cell phones but also allow consumers to earn credits for using them (Kupetz). In this regard, the United States is strikingly behind the times when compared to other countries. Another new technology in the vein of mobile phones is no-contact cards. These innovative cards do not require a cashier to conduct a transaction; one simply holds a specia...
The introduction of the credit card first came around while the economy was booming in the early 1950’s. American consumers were in buy mode and the credit card was a genius idea to let people buy now and pay later. At first look this idea seemed great but what looks and sounds great does not always mean that it is going to be great overall. Over the years credit agencies have released thousands of credit cards with several questionable polices and high interest rates. “Any given American family in the present day possesses an average of eight credit cards with about 15,000 dollars of debt”(Canner 8). Many consumers have become addicted to wasteful cyclic consumption and living beyond their income due to the ownership of credit cards. The invention and continued implementation of credit cards into the American economic and social systems appears to be the cause of the struggling economy, the weakened U.S. dollar, the sky rocketing prices of gas and grocery store goods, the all-time highs of American debt, and social deprivation in some regions.
A cashless society will further improve the globalisation that characterise our present time. The computerised systems can be used to decrease the quantity of paper trail therefore substituting paper cash with cashless credits or electronic money transfers. However, in a cashless economy, this will change with certain crimes almost eradicated. It will also be faster to generate electronic payments than cash as Near Field Communications (NFC) chips make their way into more payments cards and mobile handsets as well providing protection not applicable to purchases made using cash. This technology is simple with low power wireless link evolved from radio-frequency identification (RFID) tech that can transfer small amounts of data between two devices identifying us and our bank account to a computer. Another benefit of drawing nearer to a cashless society is that other companies are providing pioneering cash-free solutions to the payment related problems we come across. For example, WisePay, a provider of e-payments services, is deploying technologies that ensure parents no longer have to worry about sending their children to school with cash to pay for meals, excursions and other fees that will eliminate the likelihood of being caught short for cash or children misplacing money. The Government also has valuable explanations why they may deem to turn away from cash. Due the main factor of printing and distributing cash, not to mention ensuring the economy is free from forgeries which are all costly endeavours estimating that the cost to society of using cash is between 0.5 and 1.5% of GDP annually. In addition, there are many technological innovations that propose there is a real enthusiasm for an alternative to cash with the upsurge...
E-Commerce is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. It also includes ‘M-commerce’ which makes use of various mobile devices or smart phones. It means "the delivery of e-commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology.” The various services available on M-Commerce are Mobile Money Transfer, Mobile ATM, Mobile ticketing, Mobile vouchers, coupons and loyalty cards, News, Stock Quotes, shopping apps, Mobile brokerage etc. Launching of Google Wallet Mobile App is one of the recent developments.