Smart card technology:
A) Allows debit cards to store a cash balance on a card and electronically transfer some of it to others to pay for items and services
B) Is not yet available in the United States
C) Is commonly used by banks to read and process checks
D) All of the choices are correct.

Question

Quizplus · Accepted Answer

Smart card technology allows for the storage of a cash balance on a card and the transfer of funds electronically, making option A the correct choice. Option B is incorrect as smart card technology is available in the United States. Option C is also incorrect as banks typically use MICR technology to process checks.

Smart Card Technology