How The IPhone Credit Card Reader Works

July 13, 2012 · Posted in Business · Comment 

The iPhone credit card reader has contributed to changes in how point of sale payments are processed. Business people are now able to process sales at different locations without being tied down at one place. Transactions are processed securely and data safety is upheld. The data transmission channel is encrypted and no customers’ personal information is stored on the phone.

Few requirements are needed when getting started. A small reader is attached onto the phone, and an application installed in the phone is used to capture data and transmit it to the processor. No other hardware or software is needed to begin processing sales. Although other features can be added, the basic functions do not require much resources to set up.

This is advantageous as it enables the user to learn and understand how to use it quickly. Less time is therefore spent learning and instead, it freed up for use in more productive tasks. Although getting started is easy, security is not compromised in any way. The application requires a password in order to begin processing a transaction. Unauthorized people can therefore not take the device and manipulate it.

Incidences of fraud are further reduced by processing every transaction in real time. By confirming immediately after a sale that the transaction has been handled properly, the seller is protected from losses. If the sale does not go through, the merchant gets notified about it right away. If need be, receipts can be configured to be delivered in several ways including email and text messages.

Data transmitted into and out of the system is secured from unlawful access by the unauthorized parties. Encryption is the technology used to make this information unreadable by the unintended person. Only the authorized systems are able to decode the data, read and understand it’s meaning.

After a sale has been completed successfully, the buyer’s information is stored by the processing bank. Sensitive client information is not stored on the phone due to safety issues. If by bad luck the phone gets in to the wrong hands, there is no data in there that may be leaked out. This ensures that client information remains confidential as it should always be.

An iPhone credit card reader is a device that influences the way payments are processed. Those who visit clients at their premises, for example, can now do so and get paid without much hustles. Transactions are completed fast and securely which reduces the risk for everyone involved.

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