Term – Card-Present Transactions
Summary – With this type of transaction, the card which can be a credit or debit card is physically present. The card will be presented at either a point of sale (POS) or a payment terminal during the transaction. Card-Present transactions are able to be done with traditional merchant processing and cash discount programs.
This is an important term as it offers the cheapest rates for traditional processing. Card-Present transactions is the opposite of card not present transactions where a card is taken over the phone or entered online. As you may imagine, card not present typically presents an increased likelihood of fraud.
Card-Present Transaction Examples:
A customer physically swipes their credit card in a terminal at a car dealership. Cash discount program or merchant programs both apply.
A customer hands their credit card to a waitress at a restaurant.
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