Credit Card 101

CREDIT CARD L01 00/18 00/14 CHIP N'PIN 00-00-00 01100000 CH2 CH CI CARD DESIGN: i Polyvinyl Chloride Acetate 3x2 inches i ISO/IEC 7810 Roughly 3 x 2 inches, (86mm x 54mm) in size. ISO/IEC 7810 is the international standard which is commonly used for defining the physical characteristics of bank cards. Made of Polyvinyl Chloride Acetate (PVCA) a thermoplastic ! copolymer of vinyl chloride and vinyl acetate. BEND RESISTANT FLAME RESISTANT CHEMICAL RESISTANT NON TOXIC There A0U are more credit and Credit and debit cards are There were I 169m Stacked on top of each other they cards than cards in issue 5 AAA people in the UK.1 .76mm in the UK CREDIT would be higher than Mount Everest thick CREDIT & DERIT CARD * DEBIT CAR PHOTOLITHOGRAPHY CHIP & PIN • Microchips are made from silicon • Built layer by layer using photolithography process involving chemicals, gases, and light. The microchip data includes: o Cardholder name o Card number LIGHT o Expiry date. MASK Provides additional safety against counterfeiting EMV Chip & PIN cards use EMV chip card technology O EMV: a global standard named after the card schemes Europay, MasterCard and Visa. EXPOSED WAFER PINS 1234 1: 10,000 • PINS are four-digit numbers in the range 0000 - 9999, resulting in 10,000 possible numbers (1 in 10,000 chance of guessing one) • 1234 accounts for 10.7% of all PINS. • You should avoid having a PIN that is obvious or easy to guess 88.6 million are credit cards 6.6 million are charge cards 17.4 million are ATM-only cards 56.4 million are debit cards OF THE 169 MILLION CARDS IN USE: CARD FACE Card number • The primary account number (PAN), consists of 16 to 19 digits and comprises: o Individual account identifier - variable length - up to 12 digits a single check digit calculated using the Luhn algorithm. o Issuer Identification Number (IIN) or Bank Identification number (BIN) - 6 digits. ЕЯ 5678- 1234 0000 0000 0000 VALID FROM EXPIRY DATE 00/14 00/18 CARDHOLDER NAME 01100000 00-00-00 SORT CODE (DEBIT CARD ONLY) ACCOUNT NUMBER (DEBIT CARD ONLY) • The first digit of a credit card number is the Major Industry Identifier (MII) which represents the card provider: o Visas start with a 4 o Mastercards a 5 • CARD SECURITY CODE (CSC): American Express - four-digit code. • EXPIRY DATE: Is essential to process a card payment. • CARDHOLDER NAME: Displayed at the bottom of the card. o Amex a 34 or 37. • CARD SCHEME LOGO: Indicates which card scheme will be responsible for clearing payments. PURCHASES 2.2bn £140bn 61% OCT 2013 Average of the adult population own a credit card spend: £17,123 evéry 2.2bn Purchases were made using credit and charge cards. The value of sales was £140bn second? 2013 UK CREDIT & DEBIT CARD STATS CARD REVERSE The magnetic strip is made of minute ironbased magnetic particles. Magnetic stripe • AKA Card Verification Value (CVV2), it is estimated that this feature can cut fraud losses Holds similar data as the chip. • Card Security Code (CSC) Allows you to use your card abroad in countries that have by up to 70%.4 o Generated by encrypting the bank card number, expiration date and service code. yet to implement chip & PIN. Mastercard, Visa and Discover: last three digits on signature strip. AUTHORISED SIGNATURE 0000 000 Embossed hologram Signature • Identifies the card as genuine. Continues to be used for verification when: • Is a rainbow transmission hologram with a mirror (aluminized layer) laminated to the back, • Travelling abroad to a country where chip & PIN is not used. • The retailer has not upgraded to chip & PIN. • Embossed by heat and pressure from a metal stamp onto a thermoplastic medium. • Where the card is used as a cheque guarantee card. 73% 346 of all retail spending that takes place on the high street is made using debit or credit cards. In October 2013, an average of purchases were made in the UK every second using debit and credit cards, based on figures from the UK Cards Association. Total debit and credit card payments are expected to increase £477 billion£840 billion from Brought to you by THE COMBINED TOTAL OF PAYMENTS IN THE UK IS EXPECTED TO ALMOST DOUBLE, FROM: Sainsbury's Bank 9.9bn IN 2012 TO 17.3bn. IN 2022 6 www.sainsburysbank.co.uk SOURCES 1 http://www.stepchange.org/Debtinformationandadvice/Typesofdebt/Creditcarddebt.aspx 2 http://themoneycharity.org.uk/media/Debt-Stats-Full-January-2014.pdf 3 http://www.theukcardsassociation.org.uk/news/UKPlasticCards2013.asp 4 http://www.visaeurope.com/en/businesses_retailers/retailers_and_merchants/security/handling_visa_payments/ card-not-present_sales/card_security_code.aspx 5 http://www.theukcardsassociation.org.uk/news/UKPlasticCards2013.asp 6 http://themoneycharity.org.uk/media/Debt-Stats-Full-January-2014.pdf го13 ик све OK CREDIT & DER CARDS