- May 6, 2018
- Posted by: SBSAfrica
A computer program and associated data that reside on an integrated circuit chip and satisfy a business or risk management function; i.e., a set of defined parameters, for transaction processing. Examples of applications include payment, terminal behavior, CVM preferences, security keys, rules, risk policies, stored value, and loyalty. Programs on card chip that allow card to be used for payment, to store value and to get loyalty rewards..