Debit Cards & Credit Cards - Comparison

Similarities:

Both of these cards are used as an alternative to cash. Credit cards and debit cards both are electronic cards made according to ISO 7810 standard.

Differences:

In credit card system, money is lend to the user by the card issuer. On other hand in debit card system, money is transffered from the users savings bank account directly.

In credit card system, the purchaser need to pay the money into the account before due date and has the facility of revolving the credit. In debit card transactions, the transfer of money is reflected upon the savings account immediately.

In credit card transaction signature is put by user as an authentication. In debit card system PIN authentication system is used.