Debit card

FidorBank_Debit_MasterCard_(cropped)

CCardFront

CCardBack

A_typical_easypaisa_unionpay_debit_card

== Debit Card ==

A debit card is a payment card that deducts money directly from a consumer's checking account to pay for a purchase. Debit cards eliminate the need to carry cash or physical checks to make purchases. Additionally, debit cards can also be used at ATMs to withdraw cash.

History[edit | edit source]

The concept of the debit card originated in the 1960s, but it wasn't until the 1980s and 1990s that they became widely used. The first debit card program in the United States was introduced by Visa in 1978. Since then, debit cards have become a common method of payment worldwide.

Functionality[edit | edit source]

Debit cards are typically linked to the cardholder's bank account, allowing for direct access to funds. When a purchase is made, the amount is immediately deducted from the account. Debit cards can be used for both in-person and online transactions. They often feature a magnetic stripe or EMV chip for security purposes.

Types of Debit Cards[edit | edit source]

Standard Debit Cards: Linked directly to a checking account.
Prepaid Debit Cards: Not linked to a bank account; funds are preloaded onto the card.
Electronic Benefits Transfer (EBT) Cards: Used to distribute government benefits.

Security[edit | edit source]

Debit cards offer various security features to protect against unauthorized use. These include PIN verification, chip and PIN technology, and contactless payment options. Cardholders are also protected by fraud detection systems and may have limited liability for unauthorized transactions.