chip reader


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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
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)







Insert and Wait
Unlike the magnetic stripe which is quickly swiped through the reader, the chip card is inserted and only removed when the transaction is completed.







A Wireless Terminal
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)
References in periodicals archive ?
In addition to the inventory buyer will get 2 computers, 2 printers, POS system, finger print scanners, chip readers, 2 receipt printers and the Pawn Master software as well as 2 safes.
WASHINGTON -- Delays by the card industry have left thousands of new chip readers unused and consumers with less improvement in security than what was sought by merchants, the National Retail Federation (NRF) asserted on the one-year anniversary of the deadline for retailers to accept new chip-based credit and debit cards.
migration to EMV chip technology, fuel merchants are working to implement chip readers at fuel pumps which will protect against counterfeit card fraud.