Holders of debit cards can use their cards rather than cash to make purchases at POS terminals. The chip cards issued by FISC in cooperation with participating financial institutions have debit card functionality. In addition, MasterCard has also brought its Maestro brand of debit cards to Taiwan.
1. Features
In addition to ATMs, financial chip cards can also be used via many other channels as well. They can also be used to make debit purchases. Cardholders may use their cards together with a password to make debit purchases from merchants displaying the
or
the logo. FISC's system provides participating financial institutions with year-round 24-hour service to ensure that their customers can make debit purchases anywhere in the world without having to worry about the time or time zone.
2. Benefits
Direct debiting of purchases from a cardholder's account. Eliminates the need to carry cash or find change, and concerns about overdrafts.
A rapid and secure payment mechanism.
A password must be entered for every transaction, decreasing the risk of fraud.
Advanced data security technology ensures that payments are fast and secure.
Detailed monthly statements show all card purchases.
Consumer applies for a debit card from a financial institution offering debit card services. Cardholder can then use card to make debit purchases of goods or services from merchants that provide POS terminals. The issuing bank and acquiring banks use FISC's interbank clearing system to route the transaction data (international transactions are routed through an international credit card organization) and clear and settle transactions, debiting purchase amounts from the cardholder's account and crediting them to the merchants.
1. Ordinary purchases
The cardholder, bearing a card meeting the service's requirements and embossed with its logo, buys goods from a domestic or international merchant also displaying the system's logo.
2. Balance inquiries
The cardholder, bearing a card meeting the service's requirements and embossed with its logo, makes a balance inquiry at a domestic or international merchant also displaying the system's logo.