A system in which each transaction is routed to the host computer for processing and storage. The stored transactions are used to create settlement files and transactions reports.
a series of lines in the magnetic strip of a credit card that contain information necessary for credit card authorization and make the credit card processing system more secure
EDC is a point-of-sale terminal that reads the information encoded in the magnetic stripe of bankcards. These terminals electronically authorize and capture transaction data, eliminating the need for a paper deposit.
the system, in which the transactions are transferred from different places to the central computer (Host Computer) for the storage and the processing. The transactions accumulated during the period are then transferred to the processor of payments.
A method of processing bankcard transactions electronically via a Point of Sale (POS) terminal or other compatible equipment. The transaction information (cardholder account number, transaction amount, transaction date, authorization number) is captured electronically and housed in the POS terminal until the terminal is settled.
The collection, formatting, and storage of data in computer memory according to predetermined capture fields, such as name, account number, and/or the amount of purchase.
A system in which the transaction data is captured at the merchant location for processing and storage.