Methods of Processing Credit Cards
Today a majority of credit card transactions are sent electronically to merchant processing banks for authorization, capture and deposit. Various methods exist for presenting a credit card sale to "the system." In all circumstances either the entire magnetic strip is read by a swipe through a credit card terminal/reader, a computer chip is read, or the credit card information is manually entered into a credit card terminal, a computer or website. The earliest methods, submitting credit card slips to a merchant processing bank by mail, or by accessing an Automated Response Unit (ARU) by telephone, are still in use today but have long been overshadowed by electronic devices. These early methods used two-part forms and a manual device for mechanically imprinting the embossed card number information onto the forms.
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“Methods of thought which claim to give the lead to our world in the name of revolution have become, in reality, ideologies of consent and not of rebellion.”
—Albert Camus (1913–1960)
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—Ralph Waldo Emerson (1803–1882)
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—Charles Lamb (1775–1834)