It is fact that smart cards are the next big thing when it comes to data storage and security. By now it has found application in numerous fields. The use of smart cards, particularly in the field of education has helped parents to address a wide range of concerns.

With smart cards parents are able to monitor what their ward spends money on. Before going into the details of how this is made possible, it is only wise to know what a smart card is.

Smart Cards

The commonly used smart cards are a range of plastic devices embedded with an IC (Integrated Circuit). The integrated circuit can either be a micro-controller or some equivalent. It has an internal memory or a memory chip for the purpose of storing data.

With the provision of an in-built memory, large amounts of data can be stored. These cards can also carry out their own on-card functions.

They are available in a variety of forms like plastic cards, key fobs, watches, SIM (Subscriber Information Module) cards in GSM mobile devices and USB based tokens.

Working of Smart Cards

Though hybrid smart cards have entered the market, contact and contactless smart cards are the most commonly used ones these days. Their operations are very closely related.

In both type of cards the information is stored in a chip embedded on the smart card. The difference between the two technologies is in how power is supplied to the card and also how data is transferred between reader and card.

As the name suggests this is done without contact in contactless smart cards. Instead, it is done by using magnetic or RFID signals. The cards are provided with antennas which when comes in the range of an electro-magnetic signal activates the card, hence supplying power and enabling data transfer.

How does it help to track expenditure?

Now it’s time to answer the all important question of how exactly smart cards help you to track the money spent. This aspect of the smart cards has been helpful for parents to track their child’s allowance. What he spends it on or how much he spends, can easily be tracked without even a moments delay.

The students can use these smart cards to make purchases on and off the campus, like books, food and to even pay his/ her school fees. As soon as the smart card is used for any of these purposes, a notification is sent to the parents on a web portal, such as Parent Portal. The purchase details will also be stored for future enquiry.

Parents can also get information on the go with the help of a mobile app. Parent app is one such app which sends notifications to the parents. Hence, the misuse of cash can be taken care of by the parents. Moreover, using such smart cards also helps students to learn proper management of money. It also avoids the situations like losing cash, had it been carried by hand.

More Benefits of Using Smart Cards

Vast student information can be stored and made readily available to the school and also the parents. It can also be used for the purpose of marking student attendance. The IC in the smart card gets activated when in the range of an electro-magnetic field, therefore registering attendance.

It is an effective method of storing data. Since it is tamper proof and provides high level of security, it can provide safety of information. Using a smart card is not a complicated task, which makes them desirable when it comes to data handling.