If you need to swipe a foreign card, you need to apply to my acquiring (settlement) bank, that is, the bank that handles the account for the merchant to open the foreign card function. After the bank is approved, it will sign a foreign card acceptance agreement with me, and then a staff member will change the POS settings before accepting foreign cards. If it is a UnionPay card that cooperates with China, or an internationally accepted visa, it is still possible.
We use Bank of China's card to withdraw money from ICBC's machine, that is, the systems of ICBC and Bank of China transmit data through the system platform provided by UnionPay to complete the transaction. The POS machine is also connected with the system of the guest issuing bank and the merchant settlement bank through UnionPay.
The settlement bank is the most important. It provides a system to complete the transaction, which is responsible for transferring the funds generated by the credit card to the merchant's account, so it charges the merchant, which is the origin of the handling fee. In fact, there is no uniform standard for handling fees. If you can negotiate a satisfactory price with this bank, you can designate it as the settlement bank. Often the bank will even provide you with a POS machine. It is just a hardware carrier of information, and UnionPay is just an information transmission platform. Only banks have the right to send trading instructions and allocate funds.
POS machines must be connected to the network of UnionPay to trade. Different connection methods produce different types of POS. This can be understood as making a phone call. POS with telephone lines is the majority, just like telecommunications is the most common; It is a mobile POS using mobile GPRS network, just like a mobile phone can be carried with you. Even the computer is called MISPOS, which is set up to facilitate the unified management of many POS by large businesses, and is not used by ordinary businesses. The resulting cost is the communication fee, and it doesn't matter if the merchant pays for the telecom mobile.
UnionPay has a subsidiary called UnionPay Business, which is responsible for providing and installing POS machines and hardware maintenance of the machines. We can apply to it to install the machine, and we don't have to spend money on future maintenance unless it is damaged artificially.
Card reader-Baidu Encyclopedia