chip reader
A merchant terminal that reads and writes a credit or debit card that contains a microcontroller chip. To make a payment, the card is inserted into the reader and removed when the transaction is completed. See EMV and card reader. |
| Contact and Contactless |
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| This Verifone reader accepts chip-based credit and debit cards (arrow) as well as contactless payments via NFC. (Image courtesy of Verifone Systems Inc., www.verifone.com) |
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| Insert and Wait |
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| Unlike the magnetic stripe which is quickly swiped through the reader, the chip card is inserted and only removed when the transaction is completed. |
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| A Wireless Terminal |
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| Also accepting payments via chip cards or NFC, the Square reader is a portable unit that transmits via Wi-Fi to a tablet or smartphone. (Image courtesy of SQUARE INC., www.squareup.com) |
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