Debit card

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/debit-card

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the primary mechanism?Directly accesses funds from a linked bank account for immediate payment
2. What is the economic role?Facilitates commerce, reduces cash handling, and provides spending data for economic analysis
3. What is a debit card and how does it work?A debit card lets you buy things using money from your own bank account. When you swipe or tap it, the card sends your account info to a bank that checks you have enough money and then gives the merchant permission to take the money.
4. How is a debit card different from a credit card?A debit card uses money you already have in your checking account, so you can only spend what you own. Credit cards let you borrow money and pay later.

EMV Chip: A microchip embedded in cards that provides enhanced security for transactions through dynamic data generation.
Point-of-Sale (POS) Terminal: The device used by merchants to process card payments, often including a card reader and keypad.
Tokenization: A security process that replaces sensitive card data with a unique digital token for transactions.
Interbank Network: A system that allows different banks to communicate and process financial transactions between their customers.