The evolution of the plastic money from the time it was called metal money by patrons of Western Union in the early 1900's has seen radical changes with the departure from typical credit card issuers. Credit card use passed through a slack period because of the high interest rates and charges that banks imposed. But with the entry of merchant acquiring providers, there was a resurgence of credit card use. Card processing also became popular, penetrating the small and medium scale enterprises (SMEs), giving them opportunities expand their consumer base.
One of UK's leading credit card services provider has upgraded the card processing systems to boost the profitability of SMEs. CardProcessing offers merchant account set ups, pdq machines to accompany the card processing system, payment gateways and payment terminals using Chip and Pin devices. This new development in card processing for Britain's SMEs was made possible with the full back backing of Verifone and Elavon. Verifone is responsible for creating payment terminals while Elavon has significantly modified the merchant account system.
PDQ Machines And Chip And PIN Devices
PDQ machines are devices used in credit card or debit card payments. The establishment that accepts card payments has a pdq machine to process card payment. With Verifone's card machines, the latest Chip and Pin technology guarantees the security of the transaction. The personal identification number (PIN) is uniquely the cardholder's identity, which is composed of 4 digits, known only to the cardholder. A chip is embedded in the card that transmits information to the card terminal about the authenticity of the card. The cardholder enters the PIN and when it matches the information in the smartcard, the chip sends the information to the terminal if the PIN is correct or not. This innovation disables fraud risks exposures especially for stolen cards. The Chip and PIN technology is a UK initiative due to the increase in fraudulent credit card or debit card transactions. This historic credit card processing system has secured transactions and provided a safety net to both consumers and businesses alike.
CardProcessing provides 3 models, all designed with the Chip and PIN technology that makes card processing fast, easy, fraud-free and reliable. It is a stand alone card machine or can be interfaced to a computer, easy to install, and fast card processing speed. The counter-top model can process payments over the counter, or via email and telephone. The portable is a small and wireless card terminal, comes with a BlueTooth Communication Station and handy because you can bring it anywhere within your business premises. The GPRS is a fully mobile card machine that allows card processing anywhere in the UK.
The new technology in card processing has made other credit card services expedient and convenient. Businesses now have a lot of choices for their customers to pay goods or services from them. The merchant account set up is the basic requirement for SMEs to receive payments from customers via a website, phone or email or fax. With the e-commerce business solution, payments are received on time, secured and fast.
Author Resource:
Alison Cook is the author of this article on card processing .
Alison Cook is the author of this article on pdq machines .
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