What Is A Smart Card Reader Code Which Cannot
Every time they use it to buy something, it creates a unique transaction code which cannot be used again.Would be criminals can’t duplicate the information used for the transaction.Customer’s have a PIN number known only to them which they enter to “turn on” the card for purchases. Once they have it, they can use it for whatever fraudulent purchases they choose until the customer finally realizes what is happening.The difference with smart cards is all of the account holder’s personal information is stored in the microchip. When it is swiped through a credit card reader, the information is used to verify the account is valid and to authorize the customer’s purchase.Unfortunately for all of us, the information stored on those magnetic stripes isn’t as secure as it should be and there are a lot of bad people out there who have devised ways of copying information.Because the information stored on the magstripe cards never changes, criminals can use it over and over again. The magnetic stripe on the back of your credit card stores all of your sensitive information about your credit/bank card account.
Once it is fully inserted, the microchip communicates with the issuer’s financial institution to verify the user’s account.The customer enters their PIN number and the microchip is “turned on” and creates an encrypted code for the transaction. In addition to the card swiper, PIN pad, and signature screen smart card terminals have a small slot built into the front of the reader.If a customer wants to use their smart card to buy something at your place of business, they simply insert their smart card into the slot. Having a smart card reader makes you EMV compliant which means you are not liable if a fraudulent card is used in your store.The United State is the last major market to transition to smart credit cards but they’ve already issued hundreds of thousands of them to their account holders and plan to be fully transitioned within the next few years.Most smart card readers look almost exactly the same as non-smart card readers do, with one small difference.
In Germany, every citizen has a smart card associated with their health insurance and is used every time they need medical care.It’s time to get on the ball. Some smart card readers attach directly to computers or laptops via a USB port and can be used for secure logins.Other smart cards are for personal security verification. As long as they have a microchip embedded in them they will accept the card as a form of payment.There are other smart cards which are used for various other security measures.
And you’re currently required to be EMV compliant. Your customers (and you) will have these smart cards within the next few years.
0 kommentar(er)
