Once the card transaction request has been received, the merchant bank will contact the customer’s card provider (e.g Visa, Mastercard, Barclays) to verify the card and obtain payment authorisation from the customer’s bank.
Straight after the card payment has been made, the retailer’s merchant bank will receive the transaction request.
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Seconds after the customer taps (contactless) or inserts (chip & PIN) their debit or credit card, the card reader processes the cardholder’s details using the data incorporated into the cards chip (or QR code for mobile payments). The credit card payment process follows a few stages that we’ve underlined below: We’ll also touch on how contactless readers work, as well as giving you an insight into the technology behind card reader payments.Ĭredit card readers are the Houdini’s of the payment processing industry – one minute your money is there and a few seconds later it’s been zapped into a tiny little contraption.Ĭredit card readers work by examining a customer’s credit card information and transferring the transaction data to both the banks and the credit card networks. In this article, we’ll help you understand how a range of different card readers work and how your payments are processed. They both process card payments in the same way. In some instances, customers may be required to pay a minimum card payment if a business wants to eradicate small value transactionsĬard readers are a relatively new payment solution – they’re small, pocket-friendly and work round the clock.Ī card reader is essentially a slimmer, better-looking alternative to a card machine. When it comes to in-store payment methods, customers are usually given the option of either a credit card reader or a traditional credit PDQ machines with chip and PIN and contactless functionality. Today we live in a largely cashless society and card readers play a key role in providing a smooth and swift customer experience.Īt this rate, it’ll be no surprise if the next generation asks their parents, “ what is chip and PIN?”
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