Question

Explain any three advantages of smart card.

Answer 1

Following are the advantages of smart card :

(i) Accessibility of Information: The card can carry personal account, credit and buying preference information that can be accessed with a click of a mouse only.

(ii) Financial Discipline: Using cards one can manage and control expenditures with automatic limits and reporting.

(iii) Economic: Paying nominal cards without transaction fees associated with credit cards or for amounts too small for cash like reprint charges.