When a credit card transaction takes place, the total amount owed is either entered manually into the card payment terminal or automatically sent through the connected till or Point of Sale machine. The customer inserts their debit or credit card and enters their 4-digit PIN code. The card terminal then processes the transaction by contacting the merchant bank and the customer’s issuing bank for authorisation. If details are validated and funds cleared, approval is sent back to the card payment terminal, the transaction is completed and a receipt is issued. This all takes place within a few seconds via an Internet or phone connection.
An additional question: Respond to this Question
- What are the components of a card processing solution?
- How does a Bluetooth terminal function?
- How does a wireless card terminal function?
- How does a dial up terminal work?
- What are my card terminal connection options?
- What are the latest evolutions in PDQ machines?
- How do I operate my card terminal?
- What are the requirements for using a Chip and PIN machine?
- How long does a PDQ terminal last?
- How do I know payments taken with a card machine are secure?
- Can I turn my computer into a cash register?
- How does a counterfeit detector work?
- Do Epos systems include stock control?
- What type of hardware can I connect to an Epos system?
- How long does it take to install an Epos system?
- Is an Internet connection required for an Epos system?