A bank issued plastic card that is widely accepted by merchants as a result of a standard set of rules for the authorization of its use, clearing, and settlement of transactions, used to credit an account for processing a sales transaction. The most common bank card is a credit card. Transactions are usually not profitable for amounts of less than $5 ( U.S.); micropayment schemes are designed for much smaller increments of payment.
The card contains a magnetic stripe that holds a machine readable identification code which is used at EFTPOS and automatic teller machines. Bank Cards can also be used for online payments.