What are “card present” or “swiped” transactions?
A transaction qualifies as a “card present” or “swiped” transaction when the customer and credit card are present at the point of sale and the card is swiped through a credit card processing system (ie. credit card terminal, POS system or card reader) that obtains the card holder’s information by reading the black magnetic stripe on the back of the card.
A transaction qualifies as a “card present” or “swiped” transaction when the customer and credit card are present at the point of sale and the card is swiped through a credit card processing system (credit card terminal, POS system or card reader) that obtains the card holder’s information by reading the black magnetic stripe on the back of the card.
