World Library  
Flag as Inappropriate
Email this Article

Credit card terminal

Article Id: WHEBN0013142265
Reproduction Date:

Title: Credit card terminal  
Author: World Heritage Encyclopedia
Language: English
Subject: Secure access module, Merchant account, Gemalto, National Association of Convenience Stores
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Credit card terminal

A credit card terminal is a type of a Point of sale (POS) terminal that can do transactions with a credit card. There are a few types of credit card terminals are available to merchants. Most have the same basic purpose and functions. They allow a merchant to insert, swipe, or key in manually the required credit card information and transmit such data to the merchant service provider for authorization and then later on the transfer the fund to the merchant.

Most newer models not only process credit and debit cards but can also handle gift cards, checks, and so on. The majority of card terminals transmit data over a standard telephone line or an Internet connection (either wired or wireless). Some also have the ability to cache transactional data and transmit the data to the gateway processor when a connection becomes available; immediate authorization is not available at the time the card was processed which can subsequently result in failed payments. Remote wireless terminals can transmit card data using either cellular or satellite networks.

Using a Personal Computer or smartphone with appropriate software and reader device, a merchant can replace the functionality of dedicated credit card terminal hardware using a terminal application running on a PC or smartphone. These terminal applications usually also support manual entry of the credit card number. The applications may work with hardware readers that can transfer smart card ship information to the application, however most of the credit card readers that are available for smartphones are only able to read the older magnetic stripes. PCI DSS requirements also need to be considered when using unsecured and unencrypted systems based on generic or open platforms; cardholder data security is integral to mandatory merchant PCI compliance. Several high profile breaches resulting in mass theft of cardholder data have occurred in the past where people have accessed data stored insecurely on bespoke or custom systems operated by merchants.

Merchants have largely moved to using card terminals to directly capture card information instead of manually entering in card details. This provides an efficiency benefit of decreased transaction processing times. Previously, merchants could obtain lower processing costs by processing chip cards instead of magstripe cards.

Key Entry (for Customer Not Present mail and telephone order)
  • Tips / Gratuities
  • Refunds and Adjustments
  • Settlement (including Automatic)
  • Pre-Authorisation
  • Remote Initialisation and Software update
  • POS Integration
  • Multi-merchant Capabilities
  • Pen or PIN authorization by the customer
  • Surcharge Function
  • Secure Password Operation

Manufacturers

References


This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.