Smart cards: an emerging option for online trade
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Smart cards: an emerging option for online trade
Antinoro Tellier Mon Dec 20, 2010 2:59 am
Ever since smart cards were introduced, it has altered the way businesspersons work and do business. Financial transactions can now be undertaken with ease. Many small and medium businesses now consider smart cards as an alternative to the various schemes in use. In appearance, they are like credit cards, but they offer more options that that available with credit cards. They can uniquely identify their owners through encoded certificates or digitized fingerprints. Further, they allow encryption of messages.
Smart cards have a tiny embedded chip that can store much more information than the magnetic tape used earlier in credit cards. It can also do a fair amount of intelligent processing and can interact with a host of electronic devices. This makes it possible for smart cards to be embedded within household products, such as telephones, TV sets and cars, to provide access to networks like the Internet. This one aspect has increased the popularity of the smart cards to trade options online.
The smart card stores the private key of the owner and uses it to encrypt messages. This makes transactions using smart cards absolutely secure and appropriate. The ability to store information can be effectively used to perform various tasks. Of course, smart card services are priced higher, but it is worth spending extra because your security is taken care of at the least minimum cost.
In the normal course during the process of encryption, the private key is loaded into the memory of the computer and a rogue program can easily read it. With smart cards, this possibility is ruled out. Here, the entire process of encryption is internal to the card and out of the range of other programs running on the computer. There are over two billion smart cards in circulation throughout the world, primarily in Europe. They are also used to make micro payments for small packages of information or other services. Today, almost all the major financing institutions and banks vie with one another to get a better share of the market involving smart cards. People now own more than one smart card and each one is set aside for specific purposes.
Smart cards have a tiny embedded chip that can store much more information than the magnetic tape used earlier in credit cards. It can also do a fair amount of intelligent processing and can interact with a host of electronic devices. This makes it possible for smart cards to be embedded within household products, such as telephones, TV sets and cars, to provide access to networks like the Internet. This one aspect has increased the popularity of the smart cards to trade options online.
The smart card stores the private key of the owner and uses it to encrypt messages. This makes transactions using smart cards absolutely secure and appropriate. The ability to store information can be effectively used to perform various tasks. Of course, smart card services are priced higher, but it is worth spending extra because your security is taken care of at the least minimum cost.
In the normal course during the process of encryption, the private key is loaded into the memory of the computer and a rogue program can easily read it. With smart cards, this possibility is ruled out. Here, the entire process of encryption is internal to the card and out of the range of other programs running on the computer. There are over two billion smart cards in circulation throughout the world, primarily in Europe. They are also used to make micro payments for small packages of information or other services. Today, almost all the major financing institutions and banks vie with one another to get a better share of the market involving smart cards. People now own more than one smart card and each one is set aside for specific purposes.
Antinoro Tellier- Posts : 1
Join date : 2010-12-20
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