Smart Card-based Commercial Banking And Financial Payment Systems

The reasons that smart cards as a financial payment instrument become a trend are as follows:(1) smart card has a certain logic operations and encryption function, therefore, they can not be easily replicated and their information security is quite good; (2) In order to save phone bills, business household are reluctant to conduct credit card transactions in small amount of payment environment and micro-payment site, as a result, it limits expansion of the bank credit card payment business in micro-payment sites. On the contrary, smart cards can be used in offline transactions, and they are especially convenient to small pay sites. Some small business users can upload bulk data that merchandised offline per day at a time. As a result, charges that generate by using credit card every time can be saved and it is useful to make small business credit card popular in small payment sites. Currently, all banks are expanding their business, and financial payments based on smart cards will become a major highlight of the new commercial banking business.Firstly, this paper constructs the application documents within the smart card basing on analying smart card characteristics and smart CARDS COS related instructions.Next, the paper analyses smart card reader devices and relevant parameters. Combining smart cards with their reader devices command parameters, the paper constructs an operating smart card and reader equipment operation functions and realize the interaction among the payment systems based on USB port and smart card and smart card reader device. Basing on these, I develop the financial smart card payment systems. Besides, commercial banks'access and loans can be achieved with smart cards, so do smart card account in the electronic wallet and ring earmark smart cards and financial payments of smart cards. By fundamental analysis of financial operations, payment system completes a basic financial services business operation, and realizes the transactions of smart card merchant account. The basic framework of commercial banks payment system based on smart cards has a positive meaning to develop and promot the relevant business for commercial banks.