Cards - Debit, Credit, Prepaid, Smart, Co - branded
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Information Technology and Digital Banking (Elective) — CAIIB.
One-liners from this chapter
Free sample — 8 of 84 rapid-fire Q&A cards.
Define plastic money.
Card-based payment instruments (credit, debit, smart, prepaid) enabling cashless transactions without physical currency.
What determines a credit card's limit?
Monthly income, CIBIL/credit score, repayment history, and occupation profile assessed by issuer.
What is the interest-free credit period on credit cards?
Typically 20 to 50 days between purchase date and bill due date; full repayment avoids finance charges.
How does debit card transaction limit differ from credit card?
Debit limit equals available account balance plus OD; credit limit is a separate sanctioned revolving line.
What is a smart card?
Card with embedded microprocessor chip enabling data storage, cryptographic operations, and on-card authentication.
Define stored value cards.
Prepaid cards with pre-loaded value decremented per transaction; non-reloadable once exhausted.
What is RuPay?
India's domestic card payment scheme operated by NPCI since March 26, 2012; over 50% debit-card share.
What is CVV and where is it located?
Three-digit Card Security Code on back of card; four digits on American Express front.
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