![]() If the transaction is approved, the card issuer sends a response to the card reader, which then transmits information that the transaction has been successful – kaching! Barclays) will then authorise the transaction by confirming the customer’s card details are correct and that there are sufficient funds in the account, resulting in the transaction being approved or declined. Once the merchant account receives the transaction request, the merchant bank will contact the customer’s bank/card issuer to verify the card and process to authorisation. Once the card payment has been made, your (the retailer) merchant account will receive a transaction request. Immediately after the customer has paid via chip & PIN, contactless or e-Wallet (Apple Pay or Google Pay), the card reader processes or “reads” their details that are held within the chip or QR code (e-payments only). One minute the money is in your customers account, the next it’s abracadabra’d into your account via your card reader.Ĭard readers operate by examining a customer’s card information and transferring transaction data to both the banks and the credit/debit card networks.įrom authentication to confirmation, the card payment process follows a series of steps from start to finish, which we’ve explained below: Step 1: Payment Authentication But how does a card reader work exactly?Ĭard readers are the Houdini’s of the payment processing industry. We’ve previously ranked the best card readers and explained the different types of payment cards that are available (and that you should be accepting). Providing your customers with a streamlined method of paying with plastic (or e-plastic) is critical to the success of your business. ![]() We have been evolving into a cashless society over the past decade or so.
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