Question

____ cards contain a chip that can store a large amount of information as well as on a magnetic stripe for backward compatibility.
A. electronic credit
B. smart
C. purchasing
D. stored- value money

Answer 1

Answer:

(B)

Explanation:

Europay, Mastercard , Visa (EMV) is a payment method based upon technical standard for smart card payments or ATMs that accept them.

These are smart cards (also referred to as chip cards) that are capable of storing large amount of information and also include a magnetic stripe at the back for backward compatibility.

Smart cards can serve as credit or ATM cards, fuel cards, mobile phone SIMs  etc. Smart card chip can be loaded with funds and can be used for paying parking meters, vending machines or merchants.