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To be a POS agent, you need to understand these (POS machine knowledge)

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To be a POS agent, you need to understand these (POS machine knowledge)

Now more and more people are joining the pos machine payment industry, because there is indeed money to be made, and the pos machine industry will never go out of style. Some small partners want to join the pos machine agency, so what knowledge do you need to know first? Woolen cloth? Today, I have compiled some knowledge points, I hope to help you.

First of all, we must have a basic understanding of these four concepts, which are the foundation of the pos machine industry and the focus of the industry’s operation.

1-China UnionPay

China UnionPay is a joint-stock financial service institution approved by the People’s Bank of China and jointly established by more than 80 domestic financial institutions, with a registered capital of 1.65 billion yuan. UnionPay is a Chinese bank card association. Through the UnionPay inter-bank transaction clearing system, it realizes interconnection and resource sharing among commercial banking systems, thereby ensuring the use of bank cards across banks, regions and borders.

2-Network connection

NetsUnion Clearing Corporation (NUCC) is the operator of a non-bank payment institution network payment clearing platform established with the approval of the People’s Bank of China. Under the guidance of the People’s Bank of China, the China Payment and Clearing Association organized non-bank payment institutions in a market-oriented manner to jointly participate in and contribute capital under the principle of “co-construction, co-ownership, and sharing”. It was incorporated in Beijing in August 2017 and is a corporate enterprise legal person.

As a unified national clearing system, the online payment clearing platform for non-bank payment institutions mainly deals with online payment services involving bank accounts initiated by non-bank payment institutions, realizes one-point access for non-bank payment institutions and commercial banks, and provides public, safe, efficient, Economical transaction information transfer and fund clearing services, organize the formulation and implementation of unified standards and specifications related to the platform system and online payment market, coordinate and arbitrate business disputes, and provide professional supporting and extended services such as risk prevention and control.

3 – Acquirer

Including banking financial institutions engaged in bank card acquiring business, and payment institutions that have obtained bank card acquiring business licenses, provide bank card acceptance and complete fund settlement services for entity special merchants, and have obtained online payment business licenses. A payment institution that provides bank card acceptance and fund settlement services.

4-Bank card acquiring business

Refers to the act of an acquirer signing a bank card acceptance agreement with a special merchant, and providing transaction fund settlement services for the special merchant after the special merchant accepts the bank card as agreed and concludes a transaction with the cardholder.

pos machine professional terminology knowledge:

After understanding the most important structure of the pos machine, let’s take a detailed look at the professional terms of the pos machine. You must have encountered these problems.

1- What is “pos machine”

Simply put, it is a collection device used by merchants for non-cash settlement. It can read the information of bank cards, membership cards, and barcode QR codes. It is mainly used in bank card acquiring business.

2-What types of pos machines are there?

Fixed Pos machine: communication methods include telephone line and broadband line;

Mobile Pos machine: Communication methods include GPRS, Bluetooth, WIFI, etc.

Audio card reader: The communication method is: access to the mobile phone audio port, commonly known as audio hand brush;

Bluetooth card reader: The communication method is: connect to the mobile phone Bluetooth; there are mainly a version with a password keyboard and a bayonet version.

3- The difference between “one clear and two clear”

pos clearing machine: The bank or a third-party payment company with acquiring qualifications directly settles the payment to the bank card bound to the user. A clearing means “one clearing”.

pos Second Clearing Machine: It means that if the merchant’s transaction funds are settled by the UnionPay clearing organization and then settled by a third-party payment company. You can identify the payment party by looking at the bank card statement.

4- What is “rate”

That is, the transaction fee for swiping the card with pos is determined according to the different industry types of the merchant and according to the MCC code standard stipulated by UnionPay. , UnionPay clearing institutions get 1 percent.

5- What is “MCC code”

It refers to the merchant number. The merchant number is 15 digits in total. The meaning of the number is: institution code (3 digits) + area code (4 digits) + merchant type (4 digits) + merchant sequence number (4 digits).

The merchant category code is set by the acquirer for the special merchant, which is used to indicate the UnionPay card transaction environment, the main business scope and industry affiliation of the merchant, and is the main basis for judging the settlement fee standard of domestic inter-bank transaction merchants; it is also the main basis for the development of UnionPay cards. Risk analysis and reporting in the transaction industry, one of the important basic data for risk management and control of UnionPay card business.

6- What is “code hopping”

After using the pos machine to swipe the card, there is a merchant code consisting of 15 digits on each pos machine swipe card consumption order. The first three digits represent the acquiring bank; the fourth to seventh digits are the administrative division code, which is consistent with the first four digits of the ID card, representing the region where the merchant is located; the eighth to eleventh digits are the merchant code (mcc code).

The code hopping means that the MCC code on the UnionPay wallet (or the MCC code queried by the 95516 official account) is inconsistent with the MCC code on the transaction receipt. For example, the transaction receipt is clearly a 7011 hotel, but the UnionPay query is a 5411 supermarket. This is a typical code hopping.

7- What is “Limit”

For example, the single transaction limit (5W), or the single transaction limit, or the daily credit limit, etc., make different limit requirements according to the different risk control policies of the acquirer to reduce the risk of illegal transactions. Common limits are pos machines and merchants who settle private accounts.

8- What is “local settlement”

Landed merchants: Refers to the pos machines or card swiping devices that some individuals apply for self-use, and each transaction can automatically jump to display a different merchant name, and the merchant’s address is local.

9- What is “optional”

In fact, it is similar to the local meaning, self-selection: it means that when some individuals apply for pos machines or card swiping devices for self-use, they can choose the industry name and business name independently.

10-What is “one machine, one code”

The machines that are formally processed are all one machine, one code, and one terminal, just like everyone has only one ID card, so each pos machine has an S/N code behind it to ensure the safety and reliability of the machine.

11- What is a “cutting machine”

Switching is to switch from one system to another, replacing the original bank card acquirer provider of the pos machine with a new bank card acquirer provider.

12- What is a “traffic card”

The traffic card refers to the SAM card used for pos machine networking communication, and now it is mostly the Internet of Things card. It can be recharged and inquired and only has the function of surfing the Internet, but it cannot make calls and send and receive text messages.

13-What is “Portable Internet Access”

There are generally two sources of pos terminals, either a customized machine provided by a payment company, and a pos program belonging to the brand has been installed in the pos machine, or a bare machine sold by a pos terminal manufacturer and sold by downstream channels. Negotiate the purchase price, and install the pos machine program of this model provided by the payment company by yourself, and you need to enter the device number of these self-carrying bare metal into the system database of the payment company. Many payment companies support their own agent channel merchants to bring their own machines to the network. But in fact, according to UnionPay regulations, such behavior is likely to cause transaction security risks and is not allowed.

14- Arrival D+0, D+1, T+0, T+1

D is for Day

D+0 means that the account arrives on the same day throughout the year, including holidays and rest days

D+1 means that the account will arrive the next day, including holidays and rest days

T-day is a working day (except Saturdays, Sundays, or statutory holidays).

T+0 means that the account arrives on the working day on the same day

T+1 means arrival on the second working day

15- What is “Underlying Secret and Decryption”

Bottom secret: The full name is the bottom key of the pos machine. Generally, the bottom key is a model customized by a third-party payment company in the terminal manufacturer. It is used to protect the security of the program and data transmission of the pos machine.

Decryption: refers to clearing the program to facilitate writing a new program and cutting the machine. In most cases, the pos machine that must have the underlying key needs to replace the chip that stores the program to cut the machine.

16- What “Tone”

It means that the acquirer or UnionPay or the bank has doubts about the disputed or risky transaction, and needs to obtain the original transaction certificate to prove the real transaction scene of the cardholder at that time, confirm the consumption or carry out the certificate of responsibility division. A common situation is that the acquirer requires the pos machine merchant to submit some transaction receipts for a certain period of time. Within a certain working day, the transaction fee will be temporarily frozen, and the payment will be made again after confirmation.

17- What is “Rejection”

Rejection is the behavior that the payer refuses to pay for the goods for some reason after paying the payee by credit payment method.

Chargebacks can occur for many reasons, including but not limited to the following:

Situation 1: The cardholder refuses to pay (the following 5 points are the common reasons for the refusal)

The cardholder has doubts about the validity of the purchase. The cardholder is charged repeatedly for the same order. The cardholder is dissatisfied with the content of the transaction and has not been able to resolve the dispute with the merchant. Purchased items and instructions received by the cardholder Inconsistent Cardholders did not receive their purchased items

Situation 2: The card issuer/issuer refuses to pay (the following 5 points are the common reasons for the refusal)

The unauthorized party used the cardholder’s credit card to make a purchase. The merchant failed to provide a valid transaction voucher. The merchant failed to provide a valid voucher after the specified time limit. The actual consumption place of the card person is inconsistent with the voucher consumption place. Same card payment

18- What is “consumption reversal”

It refers to a card-swiping transaction that was successfully operated on the pos machine, but in the subsequent online process, due to the failure of the pos machine and the UnionPay settlement center during the data transmission process, the system host did not return a transaction success message, and the terminal could not determine the transaction. If the transaction is successful, send a request to the host again to cancel the transaction flow, and the host will roll back the transaction after receiving the request. The transaction amount is successfully reversed and returned, and the transaction needs to be re-swiped. If the transaction is unsuccessful, the transaction will be regarded as If the transaction is a failed transaction, but the account of the transaction originator has been debited, the refund needs to contact the pos provider or the customer service of the acquirer to manually correct the transaction funds and return the transaction funds to the cardholder’s account for consumption.

19-What is “Three Singles in One”

Three-in-one means that the merchant displayed on the purchase order after the credit card is swiped, the merchant displayed on the credit card consumption statement, and the merchant displayed in the UnionPay transaction query are all one merchant name.

20- What is a “downgrade deal”

When using a bank card to operate on the pos machine, when the data of the chip card cannot be read, the transaction is downgraded to reading the magnetic stripe card. Many cards are now chip + magnetic stripe, and then the bank will slowly close the descending transaction. When operating, if the magnetic stripe card is swiped and the chip is inserted, the pos will prompt to reject the downgrade transaction.

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