A single bank card - debit card for operating various account s of a person suppose one has accounts in different banks...possible?
It is possible, if same payment switch or interconnected switches are formed a network. I can't explain you better from IT background. But it is possible from my secondary study. But the advancement of deep learning and data have given us to rethink the whole virtual monetary mechanism.
If we consider the POS machine, it is more easy to understand the architecture?
The main requirement I believe is the high level security as all the banks will work on a single platform.
Possible, But it requires coordination between different banks in which a person has accounts and of course, security is main concern.
If security is the issue, can there be a common federated encryption infrastructure, with central payment gateway as a solution exists ? (Blockchain like but connected centrally at a single platform?) Dear Dr. Bhavin S Patel ? or Dear Emmanuel Vijayanand Murray ?
It is possible but some issues takes place in that case like Security Issue.
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