Smart Card

magnetic card containing a mini-processor and memory (performs various computerized actions such as: credit card, electronic wallet, etc.)

A smart card, chip card, or integrated circuit card (ICC), is defined as any pocket-sized card with embedded integrated circuits which can process information. This implies that it can receive input which is processed - by way of the ICC applications - and delivered as an output. There are two broad categories of ICCs. Memory cards contain only non-volatile memory storage components, and perhaps some specific security logic. Microprocessor cards contain volatile memory and microprocessor components. The card is made of plastic, generally PVC, but sometimes ABS. The card may embed a hologram to avoid counterfeiting.
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Noun
1. a plastic card containing a microprocessor that enables the holder to perform operations requiring data that is stored in the microprocessor; typically used to perform financial transactions
(hypernym) open-end credit, revolving credit, charge account credit

Any plastic card (like a credit card) with an embedded integrated circuit for storing information.
Smart cards are being incorporated into soldier's dog-tags and used to store hospital patients' medical records. This way they are always instantly accessible.
Other uses are as a form of token in banking systems. You could store electronic money on the card or less valuable tokens such as those given away by petrol companies which you collect to exchange for free gifts at a later date. The idea being that one smart card is easier to carry around than a multitude of paper tokens.
news:alt.technology.smartcards
(1995-01-06)

an ultra-thin card, similar to a bankcard or credit card, containing computer chips capable of receiving, storing and transmitting significant amounts of data with marketing applications.