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electronic purse (e-purse)

A cash card is an electronic purse (e-purse). It is a memory or chip card in ID1 format onto which a specific amount of money can be loaded. It is specified in the European standard EN 1546 and is referred to differently in the various EU countries. In Germany, it is called Geldkarte and is carried by the German banking industry.

The Geldkarte is a universal electronic payment instrument and can be used for electronic payment, e-cash, in the real world and for online shopping and social shopping on the World Wide Web(WWW), provided it is accepted. It does not contain any sensitive data, but is handled in the same way as when paying with real money.

Various money cards, photo: Geldkarte.de

Various money cards, photo: Geldkarte.de

To load the Geldkarte, it is inserted into a chip card terminal or a secoder and the Geldkarte-laden.de website is selected. An alternative is contactless handling, which uses near field communication( NFC). In this application, NFC payment, the cash card is equipped with an NFC tag via which communication with the ATM takes place. Giropay establishes the connection to the customer's own account. This procedure, developed by the German banking industry, ensures the merchant's ability to pay.

Signs of the Geldkarte

Signs of the Geldkarte

If the electronic money card can be used for general payment transactions in a wide variety of applications, it is referred to as an open wallet. If they are released only for specific applications, it is a closed wallet. In a direct transaction from one electronic purse to another, the purse-to-purse transaction, the funds are transferred between the two electronic purses involved. Such a function can only take place via a shared key. Purse cards can also be issued as customer cards for local transport or other purposes.

Informations:
Englisch: electronic purse - e-purse
Updated at: 20.09.2012
#Words: 291
Links: memory, chip card, standard (STD), enterprise network (EN), end user (EU)
Translations: DE
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