The whole process of credit card brush pos machine
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For UnionPay direct connected merchants, the process is as follows:
1. The card-swapping information (including the track and password) is sent to the UnionPay's acquiring system through the acquiring institution after being accepted by the POS machine.
2. The UnionPay Receipt System sends the message to the issuing bank of the credit card through the UnionPay core exchange platform, and debits the corresponding card account of the issuing bank according to the transaction instruction.
3. After receiving the successful return of the debit, the UnionPay core exchange system returns the transaction result to the POS terminal.
4. At 11 o'clock that evening, the clearing information began to be processed in batches.
5. On T+1, each bank's position account in the PBOC will allocate funds according to the clearing documents (instructions) of UnionPay, that is, the transaction funds will be transferred from the issuing bank of the credit card to the acquiring bank of the merchant.
6. The acquiring bank transfers the funds to the merchant's specific clearing account (which can also be directly transferred by UnionPay).
As long as the card is swiped by credit card, there will be cardholders, merchants, acquirers (banks or institutions that provide services to merchants), transfer clearing institutions (CUP, VISA and other card organizations), and card issuers (credit card banks).
If the acquiring bank and the issuing bank are the same, for example, the pos of the merchant is the ICBC as the acquiring bank, and the IC bank credit card is swiped, so that the transaction message will not be forwarded by UnionPay/visa/MC; but it is sent directly from the acquiring system. Authorized by the Bank's authorization system, this transaction is not distributed with the CMV card organization. This kind of transaction is called on us, and the card organization is called off us.
Haha, did the friends understand? I believe many of my friends are now using Alipay and WeChat.