The debit card is the method of payment that can be used to access this funds either directly or in an indirect manner.
This is the term that is used to refer to the payment method through which money can be deducted directly from the checking account of the holder of that particular card. The debit card is also called check card it contains other information such as the date of expiry, card number, cvv and a chip. This information helps in accessing the card. The chip is useful for reading the card while being used in other machines such as Automatic Teller Machine (ATM), point of sale machines (POS). and so on.
The debit card is held for transactions sake. It is used to pay for services and goods and tells the amount of money that is directly deducted when one makes payments. The debit card can access funds immediately whenever the necessary information or equipment are available.
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