A Smart card consists of a microelectronic chip embedded in a credit-card sized plastic card with a contact pad on the card's surface and/or an embedded antenna for "contactless" communication. As a payment device a smart card is a much enhanced and more versatile version of a magnetic stripe credit card or debit card. Value loaded to a smart card's purse is prepaid and resembles cash. Smart cards can be used for secure purchase of goods via a payment terminal interfaced to a soft drink vending machine, snack vending machine, laundry unit (washer or dryer), newspaper vending box, pay-and-display parking terminal, transit gate, photocopier or other Unattended Point-Of-Sale (UPOS) device. There is no need for exact change or for any change at all.

Smart Cards

Smart cards can be used as well for payment in attended Point Of Sale (POS) applications, and can also be used to confirm identity, to access buildings or to carry data such as personal health records, driver's license details, and biometric data including finger prints or voice prints. Biometrics can be used to further authenticate identity for high security applications.