A payment system is commonly used for transferring money. With the arrival of new technology and electronic communication, a number of optional electronic payment systems have emerged. These include credit cards, debit cards, electronic funds transfers, direct debit, direct credit and internet banking. Payment systems include physical or electronic with each its own procedures. You can choose from a range of IC's for smart cards and readers that feature many processors, security and memory. Some of the components used in payment systems include: