payment-card

Vocabulary Word

Definition

A 'payment card' is a tool for carrying out transactions, acting as a substitute for cash. It's like a portable virtual bank that fits within your wallet, allowing you to purchase items directly from your account.

Examples in Different Contexts

In payment technologies, 'payment card' innovation focuses on security and convenience. A technology consultant might comment, 'Implementing biometric verification for payment cards could revolutionize the industry.'

Practice Scenarios

Tech

Scenario:

We are working on a new update for the e-commerce platform that should include broader payment options. We want to ensure a quick and easy process for customers.

Response:

Good idea, integrating more payment card options should enhance the user experience on our platform.

Banking

Scenario:

Our customers value features that offer them maximum convenience while making transactions. Such value additions could improve our customer retention significantly.

Response:

Sounds right, we should study customer usage patterns with their payment cards and consider adding features that they prefer.