Payment Systems and Technologies
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Questions and Answers

What is one of the primary uses of Chip and PIN readers?

  • Reading barcode information
  • Processing payments (correct)
  • Tracking inventory
  • Transmitting data over long distances
  • Why are Chip and PIN readers considered more secure than contactless payments?

  • They use passwords
  • PIN typed must match the stored PIN on the chip (correct)
  • They use magnetic stripes
  • They require a signature
  • Which of the following is a disadvantage of Chip and PIN readers?

  • Fraud risk of PIN being read by someone else (correct)
  • Inability to process transactions offline
  • High cost of maintenance
  • Limited lifespan of the chip
  • What are the two main components of an RFID tag?

    <p>A microchip and an antenna</p> Signup and view all the answers

    What is the primary function of an RFID reader?

    <p>Capturing information stored on an RFID tag</p> Signup and view all the answers

    How do passive RFID tags differ from battery-powered RFID tags?

    <p>Battery-powered tags use an embedded battery to power the RFID</p> Signup and view all the answers

    Study Notes

    Uses of Chip and PIN Readers

    • Payments are made using cards in places such as restaurants, supermarkets, and travel agents.

    Advantages of Chip and PIN Readers

    • More secure than contactless payments due to PIN verification.
    • More robust than magnetic stripe cards.

    Disadvantages of Chip and PIN Readers

    • Susceptible to fraud if PIN is read by someone else while typing.

    Radio Frequency Identification (RFID) Readers

    • Use radio waves to read and capture information from tags.
    • Can read tags from a distance of several meters, an advantage over barcode systems.

    RFID Tag Components

    • Microchip: stores and processes information.
    • Antenna: receives and transmits data.

    Types of RFID Tags

    • Passive tags: use reader's radio wave energy to relay information.
    • Battery-powered tags: use a small embedded battery to power the RFID.

    RFID System Diagram

    • RFID tag: connected to antenna.
    • Antenna: connected to reader.
    • Reader: connected to computer with a double-headed arrow.

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    Description

    Learn about the uses, advantages, and disadvantages of Chip and PIN readers, as well as Radio Frequency Identification (RFID) readers in various payment systems.

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