Debit cards are used mainly in two forms:
⚫ Like an ATM card for immediate withdrawals of cash.
⚫ Like a cheque when buying an item. The money used to pay for the transaction is usually deducted from your account within a day or two depending on when the retailer presents the transaction for payment.
How does Debit Card work?
When you use your Debit Card offline, you usually make the payment using a card machine. Payments using Debit Cards are very swift and convenient. Once the merchant inputs the amount, all you have to do is input your unique PIN to complete the transaction, and you will receive a notification of your completed payment. Your bank processes the request made by the merchant using the Debit Card and releases the required amount.
When you use your Debit Card online, you need to enter the 16-digit Debit Card Number, the expiry date, and the three-digit CVV number (found on the reverse side of the Debit Card) to make a purchase. Once the details are entered, there is an OTP triggered (One Time Password) to your registered mobile number which needs to be entered at the merchant’s site to complete the transaction.
Types of Debit Cards
Visa Debit card
Enjoy the convenience of paying directly from your account, with all the security that Visa provides. It works like cash, only better. They are issued by your bank or other financial institution and one can use funds directly from your bank account. Accepted worldwide, Visa Debit cards offer quick, secure, and convenient access to your money in person, online, overseas, and over the phone. Visa’s significance in the global financial markets is tremendous. There are more than 1.46 billion Visa debit and credit cards in circulation, across the globe, which generate in excess of over $4.3 trillion in sales, accepted in about 200 countries.
FIGURE 12.3
Communication flow of MIES, MICS, and MIIS between local and remote entities.
- Media-independent command service (MICS): it enables MIH users to manage and control link behaviors relevant to handovers and mobility.
- Media-independent information service (MIIS): it provides details on the characteristics and services provided by the serving and neighboring networks in order to enable effective system accesses and effective handover decisions.
Figure 12.3 shows a flow of MIES, MICS, and MIIS between local and remote entities. MIES is generated asynchronously, while MICS and MIIS are gen- erated synchronously by a query/response mechanism. Now we present a detailed description of each service.
12.2.2.1 Media-Independent Event Service
MIES defines events that indicate or predict changes in state and transmis- sion behavior of physical and link layers. Events may be originated from the local node or remote entity in the network. Remote events traverse across the network medium from one MIHF to a peer MIHF through the reference points RP1, RP2, and RP3. The event model is based on a subscription/deliv- ery mechanism. Therefore, MIH users interested in an event type should register to the event. Local events are subscribed by the local MIHF within a single node, while remote events are subscribed by a remote entity and are delivered over a network.
There are two categories of events: link events and MIH events. Both link and MIH events traverse from a lower to a higher layer, and the relationship