What are cards that have embedded microchips and can store, use, and restore value called?

Cards that have embedded microchips and can store, use, and restore value are known as smart cards. These cards can contain integrated circuits that provide a secure method for storing and processing data, which allows them to perform transactions. The microchip enhances security by enabling encrypted transactions and the ability to manage various applications, including payment processing and information storage.

Smart cards can be used in various capacities, such as for identification, access control, and electronic cash transactions. Their functionality goes beyond a traditional magnetic stripe card and offers added features like contactless payment options and advanced data security.

In contrast, debit cards and credit cards primarily serve as methods of payment linked to a bank account or credit line without necessarily having the capacity for storing re-loadable value. Gift cards, while they may have a certain amount of money stored on them, do not have the functionality of restoring value once spent, unlike smart cards.