At present, there are many merchants using POS machines, and all kinds of models are dazzling for consumers. The deadly brands include Lakara pos machine, Lefu POS machine, accompanying POS machine, etc., then everyone is using the process. Do you know the terminology of the receipt, it may not be too well understood, then the following small series will explain to you:
Bank card acquiring business: refers to the bank card that accepts the debit card or credit card provided by the acquiring institution for the special merchants through the acceptance terminal, and completes the relevant fund settlement service, and the resulting merchants Expand and accept terminal installation and maintenance management, transaction monitoring, risk management, transaction error handling, dispute ruling and other value-added services.
The Peoples Bank Of China: referred to as the central bank, is the central bank of the People's Republic of China and the State Council of the People's Republic of China. Under the leadership of the State Council, formulate and implement monetary policies, prevent and resolve financial risks, and maintain financial stability.
China UnionPay: refers to China's bank card joint organization, through the UnionPay interbank transaction clearing system, to achieve interconnection and resource sharing between commercial banking systems, to ensure the use of bank cards across regions, regions and cross-border. The UnionPay network is spread across China's urban and rural areas and has extended to 150 countries and regions outside Asia, Europe, America, Oceania and Africa.
The third-party institution that accepts the receipt: the third-party institution that accepts the receipt refers to the enterprise that has been approved by the administrative department for industrial and commercial administration, and is responsible for the acquisition of the non-focus business of the UnionPay card acquiring institution.
Mobile POS: Mobile POS, also known as mobile point of sale, handheld POS, wireless POS, mobile sales tools for various industries.
Mobile phone card reader: similar to an external card reader, mainly to read the magnetic stripe card information, through the 3.5mm audio jack or Bluetooth to transmit data.
Pre-authorization: Pre-authorization refers to the process by which a special merchant requests a cardholder's payment commitment from the card issuer through POS or other means.
Credit card chargeback (chargeback): refers to the cardholder's payment within a certain period of time (usually 180 days, some payment agencies may stipulate a longer period), can apply to the bank to refuse to pay a transaction on the bill.
Cashing: Special merchants collude with bad cardholders or third parties, or the merchants themselves take cash in a false transaction.
False transactions: If the cardholder does not know, use his account to make a false transaction or make a blank or duplicate card while the cardholder is spending, and fake the cardholder's signature transaction.
Clearing: refers to the process of summarizing transaction records and calculating the amount of mutual settlement.
Consumption: refers to the type of transaction that the cardholder pays online through POS when the merchant purchases goods or services.
Bank card acquiring business: refers to the bank card that accepts the debit card or credit card provided by the acquiring institution for the special merchants through the acceptance terminal, and completes the relevant fund settlement service, and the resulting merchants Expand and accept terminal installation and maintenance management, transaction monitoring, risk management, transaction error handling, dispute ruling and other value-added services.
The Peoples Bank Of China: referred to as the central bank, is the central bank of the People's Republic of China and the State Council of the People's Republic of China. Under the leadership of the State Council, formulate and implement monetary policies, prevent and resolve financial risks, and maintain financial stability.
China UnionPay: refers to China's bank card joint organization, through the UnionPay interbank transaction clearing system, to achieve interconnection and resource sharing between commercial banking systems, to ensure the use of bank cards across regions, regions and cross-border. The UnionPay network is spread across China's urban and rural areas and has extended to 150 countries and regions outside Asia, Europe, America, Oceania and Africa.
The third-party institution that accepts the receipt: the third-party institution that accepts the receipt refers to the enterprise that has been approved by the administrative department for industrial and commercial administration, and is responsible for the acquisition of the non-focus business of the UnionPay card acquiring institution.
Mobile POS: Mobile POS, also known as mobile point of sale, handheld POS, wireless POS, mobile sales tools for various industries.
Mobile phone card reader: similar to an external card reader, mainly to read the magnetic stripe card information, through the 3.5mm audio jack or Bluetooth to transmit data.
Pre-authorization: Pre-authorization refers to the process by which a special merchant requests a cardholder's payment commitment from the card issuer through POS or other means.
Credit card chargeback (chargeback): refers to the cardholder's payment within a certain period of time (usually 180 days, some payment agencies may stipulate a longer period), can apply to the bank to refuse to pay a transaction on the bill.
Cashing: Special merchants collude with bad cardholders or third parties, or the merchants themselves take cash in a false transaction.
False transactions: If the cardholder does not know, use his account to make a false transaction or make a blank or duplicate card while the cardholder is spending, and fake the cardholder's signature transaction.
Clearing: refers to the process of summarizing transaction records and calculating the amount of mutual settlement.
Consumption: refers to the type of transaction that the cardholder pays online through POS when the merchant purchases goods or services.
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