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What is the difference between Smart card based access and Password based access to SPEED-e?

based card password SMART speed-e
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What is the difference between Smart card based access and Password based access to SPEED-e?

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In password based operation, the access is given on the basis of “What you know (User-Id & Password)”. The User-Id should be ‘Alphanumeric’ with minimum of three and maximum eight characters. The password also has to be ‘Alphanumeric’ with a minimum of eight and maximum of sixteen characters. In smart card based operation, the access is given on the basis of “What you have” (smart card) and “What you know” (the PIN). The smart card based operation affixes digital signature to the transactions which is non-repudiable and authenticates that only the person possessing the smart card and knowing the PIN has submitted the instruction.

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