Credit card consumption process:

1. Swipe card at POS machine

Swiping card at POS machine is the most common way to use credit card, and it is a way of swiping card online. . When swiping a card, the operator should first check the credit card's validity period and cardholder's last name and other information. Then, select the corresponding POS machine according to the card issuing bank and the currency type to be paid. The magnetic stripe of the magnetic stripe credit card is crossed on the POS machine, or the chip credit card is inserted into the card slot, connected to a payment gateway such as a bank, and the corresponding amount is entered. After the remote payment gateway accepts the information, the POS will print out a receipt for payment by card (at least two copies). The cardholder should sign the receipt after checking that the information on the payment receipt is correct. After the operator checks the signature on the receipt and the signature on the back of the credit card (including that the name completely matches and the handwriting basically matches), the credit card and a copy of the credit card payment receipt are given to the cardholder. At this point, the card swiping procedure on the POS machine is completed.

2. RFID machine taps the card

Taking the card on the RFID machine is a new type of credit card usage method, and it is also a networking method. When tapping a card, the operator should first check the credit card's validity period and cardholder's last name and other information. Then, select the corresponding card machine according to the card issuing bank and the currency type to be paid, enter the corresponding amount, and place the credit card flatly no more than 10cm above the sensor. The RFID machine will emit a signal after sensing the credit card, and then continue the operation process. After the remote payment gateway accepts the information, the printer (if connected) will print a receipt for tap-card payment, but unlike the previous method, the cardholder does not need to sign. Faster and more convenient than ever. At this point, the card sensing program on the RFID machine is completed.

3. Manual order pressing

Manual order pressing is usually used when there is no POS machine or the Internet is not available. The order pressing operation must have a pressure-sensitive copy of the "direct purchase order" (at least two copies) and a telephone number. The inspection work before pressing the order is the same as that of the POS machine. Then, the operator uses the credit card pressing equipment to print the card number, name, etc. raised on the credit card onto the purchase form, and writes the amount, date and other information, then calls the acquiring bank's authorization hotline, reports the card information and applies for authorization, and The authorization code obtained is written on the purchase form, and then the cardholder signs it after confirming it is correct. After the operator checks the signature, the credit card and purchase order copy are handed over to the cardholder. At this point, the manual order pressing process is completed. Authorization calls are usually made immediately. In some areas with poor communication or good credit ethics, merchants may encounter situations where the merchant will deliver the goods to complete the transaction after pressing the customer's signature. The authorization will be completed in the future, but the merchant is at risk of encountering credit card fraud (if a customer pays with an invalid card, it will not be discovered immediately without applying for an authorization code immediately).

4. Online payment

From the perspective of cardholders, online payment is considered to be the riskiest among several credit card payment methods, because people with malicious intentions Phishing, eavesdropping on network information, and fake payment gateways may be used to steal user information. When paying online, you need to enter the card number, credit card validity period, Visa CVV2 code/MasterCard CVC2/UnionPay CVN2 number next to the signature column on the back of the card, online transaction password, sometimes you need to enter your name, a verification code randomly generated by the web page, etc. After the input is completed, click Submit to complete the online payment. With the development of the Internet, the security of online payment and credit card payment has gradually improved, which has also set off the trend of online consumption.

5. TV and telephone transactions

Similar to online payments, card number, validity period, Visa CVV2 code/MasterCard CVC2/UnionPay CVN2 and other information are required.

6. Pre-authorization

Pre-authorization is generally used to pay the deposit, that is, freezing a part of the available credit card limit as a deposit. The process of pre-authorization is similar to that of manual order pressing, but the content of the call requires pre-authorization of the corresponding amount. It does not require payment, and there is no need to press the order. You only need to issue a certificate of receipt of the deposit. Generally, pre-authorization will be canceled by the merchant during checkout. If the merchant forgets to cancel, you can call the merchant to request cancellation. You cannot cancel by calling the authorized agency. Or, wait for the bank to automatically cancel the pre-authorization (usually 7 to 30 days).

Credit card application:

In most cases, citizens with full capacity for civil conduct (citizens over 18 years old in mainland China) and with certain direct financial resources can Apply for a credit card from the card issuer. Sometimes, legal persons can also be applicants.

Those who apply for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed. To apply for a credit card, an individual must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have the applicant's signature.