Get FREE Quote

How A Mobile Credit Card Reader Works

You own a small construction company. You and your crew travel to the construction site and re-model kitchens or bathrooms. After the work is finished, you have to get paid. You have a small attachment to your smart phone that lets you swipe credit cards. You slide the card through, have the customer sign the screen with his finger and you’ve been paid. Credit card processing moves money from the customer’s account to your merchant account in a split second. Very convenient. Very secure. You’re using a mobile credit card reader to gather the information on the magnetic stripe on the credit card and send it to the credit card company or bank.

The stripe is composed of magnetic oxide tape laminated in plastic. The tape contains three tracks of encoded information. The card reader usually reads either track one or track two, but not both. Track three isn’t used. Track one has a higher bit density than track two and is the only track with alphabetic text. It contains the name of the card holder, his credit card number, the expiration date of the card and any personal identification number information or card verification value. The second track contains a restatement of the credit card number and the expiration date.

IBM developed the magnetic stripe in 1971 as a identification device for the Central Intelligence Agency. Engineers first tried to glue magnetic tape to the plastic card but stopped because they couldn’t find an appropriate glue. One engineer told his wife about the problem. She suggested using a heat source like a clothes iron. It worked. To manufacture the cards, the engineers at IBM had to convert the IBM 360 computer from scientific/business applications which involved data storage and computations to a process control computer which would monitor the process of creating and imprinting the magnetic stripes.

Mobile card readers carry out the same processes as fixed card readers. The user swipes his credit card across the surface of the card reader which separates the information on the magnetic stripe into discrete pieces of information. The magnetic parts of the stripe are arranged like trees in a forest. Vertical stripes across the stripe alternate with blank spaces. Each vertical stripe carries a set piece of information. Any businessman who wants to stay solvent has to be able to collect money from customers and put it in a merchant account at his bank. The ability to handle credit card processing in a quick, efficient manner makes it easy for the customer and effective for the business owner.

GET FREE QUOTE TODAY AND START SAVING


Testimonials

It took me a while to decide who I wanted to settle with to handle all of my credit card transactions because every company wants to make it sound like they're offering you the best rates. CreditCardProcessing.com was able compare and beat all of the other offers I received. They were also able to provide me the fairest price on my EMV-compliant terminal. My sales representative and the support team were there to assist every step of the way. Ultimately, I'm looking forward to a long term relationship with this company.

Roland Tran from the Hong Kong Kitchen

It is a pleasure dealing with these folks. Their pricing is fair, their statements are understandable and their employees are knowledgeable and friendly.

John MacMillian from the Great Lakes Baking Company

The service was very professional, my sales person (Steven B.) was very well versed in the product and most helpful in getting our company set up to accept credit cards via my cell phone. Their rates are some of the lowest on the market and their service is unparalleled. I will recommend them to anyone requiring a credit card processing service.

Michael Harper from Deluxe Auto Body

Jonathan C. is wonderful to work with. He is very helpful, accommodating and resolves any issue quickly. It is hard these days to find someone who gives great customer service, but I can say, Jonathan is the best! I would not hesitate to recommend him to any business owner and to assist you in helping to grow your business.

Linda Garner from Regali Da Forno

I called indecisive about getting a device, but speaking to your Sales Consultant completely settled me. He was very professional, knowledgeable and patiently walked me through the process. He always responded to my voicemails and answered all my questions. After I received my merchandise, he called following up to ensure that I had received it. Customer service I would say is 5 stars. Stellar! Thanks Credit Card Processing, I will definitely recommend you.

Sarah Morgan from Vision International Ministries
Call Us Today!

© 2017 CreditCardProcessing.com. All rights reserved. Privacy Policy
CREDITCARDPROCESSING.COM, LLC is a registered ISO of Wells Fargo Bank, N.A. Walnut Creek, CA

*Further terms and conditions may apply. Promotion contingent upon CreditCardProcessing.com's receipt of written competing offer(s).

**Certain restrictions may apply.

Promotional offers brought to you by CreditCardProcessing.com.

EMV™ is a registered trademark of EMVco, LLC. Apple, the Apple logo, iPhone and Apple Pay are trademarks of Apple, Inc., registered in the U.S. and other countries. Android™ is a trademark of Google, Inc.

Call for details.