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Smart Card Processing
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What It
Is |
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Smart
cards and credit cards are basically the same
except for the fact smart cards contain a smart
chip inside them (see graphic below, chip is on
the left side of the center blue logo) that
secures personal information about the cardholder
making for easier and more secure purchases both
in the retail and Internet industries.
For detailed information
about Smart cards:
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How It
Works |
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Smart
cards work pretty much the same as a credit card
except this solution can make web purchasing much
more easier. Many people don't like to have to
constantly complete the order form questions for
each purchase they make. With your computer
coupled with a smart card reader you can easily
slip in your smart card and it will automatically
complete the order form questions (cardholder
name, address, card number, exp. date, etc.) thus
saving you valuable time. Smart cards are much
more secure than traditional credit cards. Many
smart cards have the card number inside the
"smart chip" processor rather than on
the outside and will not allow access to the
information without the proper password. As a
result decreasing the amount of credit card
fraud.
Otherwise,
processing a Smart card is no different then
processing your traditional credit card with the
magnetic strip on the back, nor does it cost any
more or less to process than traditional credit
cards -- All the same rates and fees apply.
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Who Needs
This Solution? |
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Smart
cards have been used in Europe for quite some
time and have just recently moved into the US
market. Most all newer credit card processing
terminals will support smart card swiping and so
will Internet transaction processors, also. No
new equipment or services are usually needed
unless your retail establishment uses an older
swipe terminal.
Your
swipe terminal equipment NOT Smart Card
compliant? It may be possible to connect
a Smart Card Reader/Writer, either a handheld or
desktop device similar in appearance to a PIN Pad
(for Debit/ATM card processing) that reads the
microchip in the Smart card, to your current
swipe terminal. Some older terminals may end up
needing replaced with a newer unit. Contact
the manufacturer of your terminal for details.
VeriFone
Smart Card Reader Equipment
Lipman
(Nurit) Smart Card Reader
(Lipman now owned by Verifone)
Hypercom
Smart Card Reader
NOTE:
If you're also shopping around for a PIN Pad for Debit/ATM card processing, you'll find that many
Smart Card readers double as PIN Pads, also.
Check above links for details.
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Smart
Card Processing Resources |
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Many existing Merchant Account Providers will be able to set you
up to accept Smart Cards if you are interested. Search
for one here on MerchantSeek, click here.
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