IC downgrade transaction refers to a transaction method in which a magnetic stripe chip composite card is used at a payment terminal (such as a POS machine, etc.), and the chip card cannot be used for transactions and the magnetic stripe method is used for payment. If when paying with a card, it shows that the bank card does not support downgrade transactions, it may be due to the bank card being damaged and not being read, or the payment terminal malfunctioning, etc. If after checking it is found that the payment terminal is not faulty, then you need to contact the bank staff. Have staff investigate the cause and resolve the issue. There may also be some merchants or cashiers who don't know much about this. When you swipe the card in the future, you should also remind the other party that this is a chip card and requires a chip. Otherwise, if your transaction has already swiped the magnetic stripe, then the transaction will be done. If it fails, you can no longer insert the chip unless you change the POS machine.

1. What does a downgrade transaction mean?

1. A downgrade transaction refers to the transaction of a financial IC composite card with both a magnetic stripe and a chip on a terminal that already has the chip acceptance function. Instead of inserting or swiping a card, the transaction is completed through a less secure magnetic strip.

2. The main reason is that cashiers have long developed the habit of swiping magnetic strip cards to accept cards. On terminals that already have chip acceptance functions, cashiers still use the method of swiping magnetic strips to accept financial ICs. Card.

3. This operation reduces the security of financial IC card transactions, which is called a downgrade transaction in the industry.

2. How to cancel the downgrade transaction at the POS machine

1. Before using the POS machine, you need to check whether the power is on, whether the printer and the host are connected normally, and whether the POS printing paper is installed.

2. The operator should perform "end-of-day processing" at the end of the business day. Special attention should be paid to that when the POS machine needs to be replaced for some reason, the "end-of-day processing" must be completed before shutting down and replacing it. .

3. Do not debit cardholders repeatedly due to repeated card swiping. During the transaction, if the purchase order is not printed out, the operator should first select the "reprint" function. If the voucher still cannot be printed out after reprinting, the operator should select the "query current transaction" function to query the batch number and merchant of the transaction. Serial number, then cut off the power, check whether the printer is connected correctly, unplug it again, and then choose to print specific records.

4. If you still cannot print, check the balance on the POS machine, and then check with the UnionPay Customer Service Center whether the transaction has been reversed. If the answer is that the consumption was successful, you can copy the consumption elements on the POS consumption slip. , the cardholder can take away the goods by signing, or cancel the transaction. Do not swipe the card again at will to redo the transaction, otherwise the cardholder will be debited repeatedly.