Sentences with phrase «accept magnetic stripe»
The new terminals require you to dip your card in a slot, not swipe, as the older terminals that accept magnetic stripe cards do.
https://www.inc.com/ Not exact matches
It's complicated, but under the new rules, if a customer walks into a store with a chip card and the store hasn't updated its point - of - sale equipment to accept chip cards, the merchant is liable for any fraud that occurs from using the card the old way, by swiping the magnetic stripe.
Torous opened her shop just three weeks ago, and had previously purchased a terminal that accepted only magnetic stripe cards for $ 150.
The $ 29 reader will accept both magnetic - stripe and chip cards, and can be used with iPhones, iPads and Android devices.
In certain countries, for example, it's not uncommon for travelers to encounter merchants that don't accept cards with magnetic stripes at all.
When retailers update their terminals to accept chips, just insert your card instead of swiping the magnetic stripe.
While they won't be accepted at every kiosk overseas, you'll probably find them easier to use than cards with magnetic stripes.
In the meantime, while retailers wait for certification to be approved, they must still accept traditional magnetic stripe payments, even if they've upgraded their payment terminals so that they accept chip - based payments.
PagPop, founded in 2006, enables product sellers or service providers to accept credit card payments using smartphones, tablets and an optional magnetic stripe reader.