Types Of Bank Cards What are the differences b/w Master/Rupay/Visa card

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In this tutorial we are going to learn types of bank card and what are the differences b/w Master/Rupay/Visa card and what is cvv no. in card.

Type Of Bank Cards

1. Debit Card

2. Credit Card

3. Virtual Card

1. Debit Card

A debit card (also known as a bank card, plastic card or check card) is a plastic payment card that can be used instead of cash when making purchases. It is similar to a credit card, but unlike a credit card, the money is immediately transferred directly from the cardholder’s bank account when performing a transaction.

2. Credit Card

A credit card is a card issued by a financial company which enables the cardholder to borrow funds. The funds may be used as payment for goods and services. Issuance of credit cards has the condition that the cardholder will pay back the original, borrowed amount plus any additional agreed-upon charges.

3. Virtual Card

Virtual credit cards are online cards that are not physically issued by the credit card provider. It is usually a free service provided by the original card issuer to their customers who want to perform an online payment with the help of their credit cards.

What IS Card No. ?

Your debit card number is also What IS Card No. ?
known as your PAN number, and is the 16-digit number across the front of your card. Your security number is also known as a CVV number and can be found on the signature strip on the back of your card.

Difference B/w Master / Visa / Rupay Card

Rupay Card

Rupay Card is an Indian domestic card conceived and launched by NPCI in 2012. It was introduced in the Indian payment system to reduce the monopoly of foreign gateways like Visa and MasterCard because these are foreign companies or American companies and their commission is high i.e. the cost of transaction is high. Therefore, we can say that RuPay Card is an Indian payment gateway. It also works like Visa or Master Card and its commission is low. RuPay facilitates electronic payment at all Indian banks and financial institutions.

Visa And Master Card

Visa Card and MasterCard are a foreign payment gateway that provides payment facility to most of the banks in the world. There is no special difference in MasterCard and Visa Card. Both of these are ATM cards and their work is similar. They are international cards; payment can easily be done everywhere.
However, neither Visa nor MasterCard actually provides any credit card to anyone. These are both payment methods. They rely on banks of different countries to issue credit cards using the payment methods. Therefore, interest rates, rewards, annual fees and all other charges are issued by the bank and so, when you pay your bill, you are paying it to the bank or institution issuing your card, Visa or MasterCard.

Types Of Cards

Credit card
Debit card
Charge card
ATM card
Stored-value card
Fleet card
Other

What Is CVV No.

The CVV Number (“Card Verification Value”) on your credit card or debit card is a 3 digit number on VISA, MasterCard and Discover branded credit and debit cards. On your American Express branded credit or debit card it is a 4 digit numeric code.
Providing your CVV number to an online merchant proves that you actually have the physical credit or debit card – and helps to keep you safe while reducing fraud.
CVV numbers are NOT your card’s secret PIN (Personal Identification Number).
You should never enter your PIN number when asked to provide your CVV. (PIN numbers allow you to use your credit or debit card at an ATM or when making an in-person purchase with your debit card or a cash advance with any credit card.)
CVV numbers are also known as CSC numbers (“Card Security Code”), as well as CVV2 numbers, which are the same as CVV numbers, except that they have been generated by a 2nd generation process that makes them harder to “guess”.

Where Is CVV No. On Card

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