What Is a Smart Credit Card?

The credit cards used in e-commerce activities are electronic credit cards, which are paid directly over the Internet. Electronic credit cards are fast and convenient. Buyers can learn about the creditworthiness of cardholders through the card issuer in time to avoid fraud.

Chinese name: Electronic credit card

Foreign name: electroniccreditcard
Category: E-commerce

Introduction to electronic credit cards

Electronic credit cards are a form of payment.

Because the use of electronic credit cards requires credit card transmission through the public Internet network, it is technically necessary to ensure the security and reliability of the transmission. The SET secure electronic transaction protocol is used to ensure the secure transmission of electronic credit card numbers and passwords. In the process of credit card payment, it is also necessary to authenticate the identity of the customer, the merchant, and the credit card issuer to prevent repudiation.

Electronic Credit Card Features

And it has the characteristics of low manufacturing cost, high reliability of information preservation, convenient development, flexible application and miniaturization, etc. Electronic credit cards are matched with electronic credit card machines-small dedicated microcomputers, which can be widely used in various securities and priceless securities , Credit proof, and other occasions, can also be used for some decentralized system data information collection ^[1] .

Electronic credit card application industry

Electronic credit cards and electronic credit card machines-small, dedicated microcomputers, can be widely used in various types of marketable securities, priceless securities, credit certificates and other occasions, and can also be used to collect data information in some distributed systems. ^[2]

Electronic credit card types

Smart cards, debit cards, phone cards, etc.

Electronic credit card credit card payment classification

Credit card payment without security measures

Electronic credit card payment by a third-party agent

Simple encrypted electronic credit card payment

Secure electronic transaction credit card payment

SETSecure Electronic Transactions Electronic credit card SET protocol Secure Electronic Transactions

An open, electronic money-based electronic payment system specification for online transactions. SET retains the authentication of the customer's credit card, and adds the authentication of the merchant's identity, which is crucial for transactions that require payment of currency. Due to its reasonable design, the SET protocol has been supported by many large companies and consumers and has become the industry standard for global networks.

On the open Internet, ensuring the security of data transmitted by buyers and sellers is an important issue. In order to overcome the shortcomings of the SSL security protocol, and in order to achieve transaction security and cost-effective market requirements, VISA, Master Card, Micro Soft, IBM and others jointly formulated a secure electronic transaction announcement. ^[3]