Smart Card Technology
ITC Systems smart card solutions utilize
a computer chip embedded in a plastic card to store data such
as digital cash and patron demographical information. A standard
credit card or debit card, by contrast, uses a magnetic stripe
to store data.
 With
smart card technology, financial institutions are now able
to issue one multi-purpose client card that can serve as a
cash card, debit card, as well as a credit card.
In addition to all of the proven features of
the magnetic stripe card, smart cards offer superior transaction
security. Unlike magnetic cards which simply store data, chip
cards generate a digital key used to encrypt stored data.
Other advantages over magnetic stripe cards include greater
performance reliability, the ability to store up to 100 plus
times more information, the ability to perform multiple functions
(e.g. banking, healthcare, transportation) via one card and
the reduced risk overall of tampering and counterfeiting through
high security mechanisms.
With the enhanced security this technology now
offers, some observers believe that, over time, cash cards
and the "electronic purse" will replace notes and
coins completely.
ITC offers a full range of smart card alternatives,
from basic memory cards to microprocessor based smart cards
with up to 64K of memory capacity.
These card options, combined with ITC's full range of smart
card hardware solutions, have made ITC a leader in the smart
card industry in North America.
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ITC
Systems has been a leader in magnetic stripe card based technology
since 1989. Our systems utilize a combination of ISO, ABA
and proprietary magnetic stripes to enable our customers to
identify their patrons, offer them various on-line programs
such as meal plan accounts, and enable them to perform small
value transactions. Typical examples are laser printers, vending
machines, laundry, cash registers and other self-serve applications
via placing monetary value on the card.