The POS machine holding the wallet reads the magnetic stripe information on the cardholder's bank card through the card reader, the operator of the POS machine inputs the transaction amount, and the cardholder inputs the personal identification information (password). The POS machine sends these information to the card issuer system through the UnionPay center to complete the online transaction, give the information of success or failure, and print the corresponding bill.
There are two signs for putting wallets on the POS machine, which are UnionPay and China UnionPay Express, indicating that the POS machine has passed UnionPay certification and supports China UnionPay Express. This product has a payment license authorized by the state, so it is a regular POS machine. At the same time, POS machines with wallets have magnetic stripe card slots and ic card slots, which support magnetic stripe cards and chip cards.
The POS machine with wallet is a multifunctional terminal. It can be installed in special merchants and acceptance outlets of credit cards, and connected with computers to realize automatic transfer of electronic funds. It has the functions of supporting consumption, pre-authorization, balance inquiry and transfer, and is safe, fast and reliable to use.