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

    A card issued by a financial company giving the holder an option ...
  2. Automated Teller Machine - ATM

    An electronic banking outlet, which allows customers to complete ...
  3. Authorization Only

    A type of sale transaction that creates a pending transaction ...
  4. Transaction Identifier

    A unique identifier assigned by a business to each transaction ...
  5. Reference Number

    A unique identifier assigned to each transaction made using a ...
  6. Straight-Roller

    A credit card account which is increasingly delinquent, and in ...
RELATED FAQS
  1. How do prepaid debit cards work?

    Prepaid debit cards work almost like a combination of a credit card and a checking account. Prepaid debit cards are issued ... Read Full Answer >>
  2. How do I get a higher limit on my credit cards?

    Before applying for a higher credit limit, it is important to demonstrate responsibility. One way to do this is by making ... Read Full Answer >>
  3. Where are secured credit cards accepted?

    Secured credit cards can be used just like regular credit cards wherever credit cards are accepted. Secured credit cards ... Read Full Answer >>
  4. Do prepaid Credit Cards have monthly fees?

    While prepaid credit cards differ in their fee structures, some come with fees to purchase the card, activate the card, add ... Read Full Answer >>
  5. How have low interest rates affected lease rates in the automotive sector?

    Low interest rates have contributed substantially to increased lease rates in the automotive sector. In recent years, the ... Read Full Answer >>
  6. How often is interest compounded?

    Interest can be compounded on any given frequency schedule. Common interest compounding time frames are daily, monthly, semi-annually ... Read Full Answer >>
Related Articles
  1. Credit & Loans

    What You Need To Know About EMV Credit Cards

    Finally, the U.S. is beginning to move to EMV credit cards. Here's how they'll keep us safer and what they won't fix.
  2. Credit & Loans

    Credit Card Tutorial

    Credit cards can be a useful tool if you know what you are getting into. Learn the risks, rules, history of credit cards.
  3. Forex Fundamentals

    Bitcoin Transactions Vs. Credit Card Transactions

    We provide an overview of the differences between bitcoin and credit card transactions, and the advantages of using one over the other.
  4. Credit & Loans

    The Pros & Cons Of Personal Loans vs. Credit Cards

    One is not like the other. We help you decide where to borrow money from.
  5. Credit & Loans

    How Is Cashback Profitable For Credit Card Companies?

    Cashback rewards are not as beneficial to the consumer as they might initially seem.
  6. Savings

    Why Do Credit Cards Expire?

    Credit cards expire for more reasons than you could imagine – including, so you don't forget you have the card.
  7. Credit & Loans

    Meet The Company Behind Your FICO Score

    There are other credit scores that evaluate lending risk, but FICO is still the choice of most U.S. lenders.
  8. Stock Analysis

    How MasterCard Likely Earned a Spot in Your Wallet

    An in depth look at MasterCard and its future prospects as an investment.
  9. Credit & Loans

    6 Ways To Build Credit Without A Credit Card

    It's definitely possible – if a bit more complicated – to build a credit history without traditional credit cards. Just follow these steps.
  10. Credit & Loans

    Terrible Credit Score? Try These Credit Cards

    When your credit is less than stellar you have fewer choices. But some are still better than others. Here's our read on which cards to get.

You May Also Like

Hot Definitions
  1. Expected Return

    The amount one would anticipate receiving on an investment that has various known or expected rates of return. For example, ...
  2. Carrying Value

    An accounting measure of value, where the value of an asset or a company is based on the figures in the company's balance ...
  3. Capital Account

    A national account that shows the net change in asset ownership for a nation. The capital account is the net result of public ...
  4. Brand Equity

    The value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. ...
  5. Adverse Selection

    1. The tendency of those in dangerous jobs or high risk lifestyles to get life insurance. 2. A situation where sellers have ...
Trading Center