PAYMENT GLOSSARY

Credit Card Reader

A credit card reader, sometimes called a credit card swiper, is an electronic device used to read data stored on the magnetic stripe of a credit card. When the credit card is swiped (or inserted) at the point of sale, the information pertinent to processing the card transaction is read and processed. Typically this magnetic stripe data includes the cardholder’s name, credit card account number and expiration date, and also the Card Security Code (CSC), also known as the Card Verification Value (CVV).

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