Where is data stored on a credit card?
in a magnetic stripe, for magnetic cards
and in a chip, for smart cards
Short answer: No. Long answer: All data is automatically stored in SD cards, unless there isn't one or one has altered the settings. When one purchases a new SD card, all the previously recorded data is stored in the old memory card. To obtain the data for the previous SD card, one has to transfer the files. So when one puts in a new SD card, the new data will be stored in the new…
Which is comparable in size to a credit card or ATM card stores personal data on a thin microprocessor embedded in the card?
The latest in credit card technology, a smart card stores information on an integrated microprocessor chip rather than on the magnetic strip of a regular credit card. Although not yet widely available in the United States, these cards are thought by many to be the card of the future. * Benefit: The information stored on a smart card is more secure due to the embedded chip technology.
iPhone credit card terminals use encrypted data to mask the card information in the same way that online credit card processors do. Since iPhone terminals have become more popular in past years with small or home businesses, Banks and Credit Card Processing Services have worked towards making the encryption even more complicated.
No, photocopying a credit card does not destroy the magnetic strip, but unless you absolutely need a copy of your credit card, I would not suggest making copies of it. If you have a copy of the card (especially if you put front/back on the same page or stored together), it would make it very easy for someone to steal that information and use your card for online purchases.
This Cyber Crime involves stealing credit card information of a user either through computer malware or through phishing attacks and making heavy purchases using the credit card data. As per the latest RBI guidelines, a customer is liable to pay to the Bank only upto Rs. 10,000 if he is a credit card fraud victim.
Unfortunately no. The reason is that the credit stored on an Edge Card is not taxed. This is because money put on an Edge card is from trading games in at a GameStop location or by a credit card (at the store). Since the games are traded for in-store credit, the government does not own this "currency", thus it is not taxed. GameStop does sell gift cards, which are essentially the same, except taxed.