Integrated Circuit Card

AAA

DEFINITION of 'Integrated Circuit Card'

A card that has an embedded circuit, such as a computer chip. Integrated circuit cards are made of plastic or a similar material, and are most often associated with specific credit cards known as EMV cards.

INVESTOPEDIA EXPLAINS 'Integrated Circuit Card'

Integrated circuit cards allow the storage of information on the card itself. The consumer's information on the card is accessed when the card is used in a card scanner. Combined with other security measures, such as a PIN number or password, the chip allows the secure transmission of personal and financial information.

Europay MasterCard Visa (EMV) cards are known as “smart cards” due to their integrated circuit chip (ICC). Though they’re mainly used in Europe and Asia, they’re beginning to become more frequent in the United States. 

While integrated circuit cards are often associated with credit cards, they are also used in a variety of other settings. For example, employees may be assigned an identification card that they must scan in order to be allowed inside a secure building. 

RELATED TERMS
  1. Credit Card Authorized User

    Definition of an authorized user of a credit card.
  2. EMV

    A standard relating to integrated circuit cards, point-of-sale ...
  3. Gray Charges

    Fees consumers pay via credit card or debit card for unwanted ...
  4. Credit Card Teaser Rate

    A lower-than-normal interest rate that a credit card company ...
  5. Debt Consolidation

    The act of combining several loans or liabilities into one loan. ...
  6. Durbin Amendment

    A part of the Dodd Frank Wall Street Reform and Consumer Protection ...
Related Articles
  1. Best Business Credit Cards
    Savings

    Best Business Credit Cards

  2. 3 Credit Card Benefits You’re Paying ...
    Credit & Loans

    3 Credit Card Benefits You’re Paying ...

  3. 5 Biggest Money Mistakes & How To Fix ...
    Budgeting

    5 Biggest Money Mistakes & How To Fix ...

  4. 7 Weirdest Things You Can Buy With Rewards ...
    Credit & Loans

    7 Weirdest Things You Can Buy With Rewards ...

comments powered by Disqus
Hot Definitions
  1. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  2. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  3. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  4. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  5. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  6. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
Trading Center