- Chipknip
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Chipknip is an electronic cash system used in the Netherlands. All ATM cards issued by Dutch banks have smart cards that can be loaded with value via Chipknip loading stations next to ATMs. All bank cards are interoperable. Chipknip can be used for payments at parking machines, shops etc. No network access is required by the payment collection terminal. The system is therefore complementary to the online electronic point-of-sale payment system known in the Netherlands as "PIN" which transfers money between bank accounts in real-time. The maximum value of Chipknip storage and transactions is quite limited, but adequate for small retail transactions.
Chipknip was introduced in 1996, based on technology used in the Belgian Proton electronic cash system. Value stored on the card does not need a PIN to unlock it: the card is entered into the reader at the point of payment, and the card holder simply confirms the transfer of value. Typical uses of the card are in public transport, for car parking, office canteens, and for small retail transactions.
Statistics issued at the beginning of 2007 indicated that Chipknip use grew by 12% in 2006 over 2005, and was used for 165 million transactions. The average transaction value was €2.68.[1] Transaction volume has grown from 9m transactions in 1998.[2]
See also
References
Categories:- Electronic currencies
- Smart cards
- Money stubs
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