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Information about Media Card Payment:


1. Different types of Card

EMV Cards (Chip & PIN, Chip and signature, CONTACTLESS)
A chip card (also known as ICC (Integrated Circuit Card) or smart card) is a card with a microprocessor chip inside. The chip card can be considered as a miniature computer. It has its own operating system, memory, communication interface, security features, and the ability to encrypt and decrypt data. As expected, this technology comes with its own terminology, acronyms, data formats, and various types of keys and cryptograms. Some of the important benefits of a smart card include the ability to store information securely in the chip card and the ability to send and receive sensitive financial information in a secure manner. A card with Chip and PIN also offers the possibility that the cardholder to enter a PIN code (four to twelve digits) each time you use the card. This is a good way to ensure that the cardholder is the owner of the card. If the cardholder is using a chip card and signature will have to sign for trade at the end of the transaction.
Finally, there may also be reached through contactless cards. No contact is not actually a type of card; rather a feature of some credit cards or debit cards. This feature allows you to make payments by simply placing your card a few centimeters away from the reader for purchases.

Magnetic stripe cards
Magnetic stripe card refers to the rectangle of magnetic material affixed or printed on the back of a bank card. Information such as account number, personal identification number of the customer, the expiration date is stored in the magnetic strip. In trading, sliding the card is used in a payment terminal in order to pay for goods purchased. All EMV cards also have a magnetic strip that serves mainly as an alternative payment if the chip is damaged.

Card types
There are three main types of payment cards:
• A credit card lets you make purchases using a credit line provided by the card issuer.
• A debit card works just like cash. When a debit card is used the money is deducted directly from your checking account.
• A prepaid card must be loaded with funds - and then can be used until funds are exhausted



2. How a transaction work?

The typical transaction consists of five parts:
• The cardholder is any consumer or business using a card to make payments.
• Trading is any entity - a store, restaurant, medical, utility, online retailer, hotels, airlines and so on.
• The acquiring bank is a financial institution that initiates and maintains contractual agreements with businesses in order to accept and process transactions and allow card payments customer.
• The issuing bank is a financial institution that offers brand cards (Visa, Mastercard and others) to consumers and businesses. The issuing bank is for the bank card holder.
• The card network whose purpose is to provide the infrastructure to support financial institutions in issuing and processing debit and credit cards.

The life cycle of the transaction:
1. The cardholder presents its debit / credit to make a payment.
2. Trade processes the data of the card and the transaction with your payment terminal, requesting authorization bank business.
3. The investment bank also called acquiring bank, it submits the application for authorization to the network of credit card.
4. The network of credit card sent the requests to the card issuer, who is also the bank card holder.
5. The bank issuing the holder accepts or rejects the transaction depending on the availability of customer credit. The card issuer sends the decision to Visa or Mastercard.
6. The network card then sends the response to the acquirer.
7. The investment bank then forwards the message to trade.
8. The merchant receives the authorization response in the terminal payment and complete the transaction or refuses.

3. Advantages of accepting card payments (*)

• Access to new income from the sale of airtime, charging for services, sending and receiving remittances, etc.
• Reduce need for idle capital that should be left to "make change"
• Leverage sales Rewards offered by banks: Points, cashback, etc.
• Eliminate competitive disadvantage when other trade do offer to accept other means of payment besides cash.
• Financing alternatives to customers through months without interest.
• Reduce collection risk involved when granting trade credit to their customers.
• Generate a credit history by having a receiving account funds generated by the Point of Sale.
• Eliminate the risk of receiving counterfeit bills.
• Ability to handle transfers with suppliers as it has a receptive fund account which can make money dispersion.

• People use cards for:
◦ Security (no use of cash)
◦ Comfort (associated with the revenue account without lines at ATMs)
◦ Benefits (insurance, rewards, discounts and contests)
◦ Control (registration fees)
◦ Prestige

• Card types:
◦ Credit
◦ Debit
◦ Prepayment
◦ Corporates

As entrepreneurs, we are always aware that our business everything runs smoothly, we seek that costs are kept low, bring better products for our customers and provide the best possible care, but an issue that often neglect and always leave "when there is time", it is precisely that of our own finances and ways to grow our businesses.


4. Different means to accept Cards (*)

Plastic Transactions Presence
1. Point of Sale. Traditional transaction terminals with 3 types of communication:
• Landline (Dial Up).
• Cell phone line (GPRS / 3G).
• Internet (Ethernet and Wi-Fi).

2. Pin-Pad. Where the transaction terminal (Pin-Pad) is connected to a computer, which has an application to create and send the transaction. The application may or may not be integrated into the management system of trade.
3. Unattended terminals. Transaction where the terminal is installed on machines where the cardholder follow instructions for payment.
4. Mobile Terminals. Transaction using a Smartphone and a card reader to turn the phone into a POS terminal.

Transactions without the presence of Plastic
◦ Telephone Sales. Transaction manually entering the card information to make a single charge.
◦ Recurring charges. Transaction manually entering card information for a recurring charge (usually it is monthly).
◦ Electronic Commerce. Transaction where the cardholder manually enter the card information on a web page (from a PC) or a App (from a Smartphone) to perform a single charge.


(*) Source: MasterCard®

Frequent questions:


1. Do you have a physical trading? - Choose your business needs TPV
If you have a physical store you can receive receipts with our solutions Integrated POS / ATM or POS Mobile. With our online management application you can check and manage sales and returns of all your terminals in a single panel, and if you have multiple shops you can take overall control of them all.


2. Differences between dataphone and PIN PAD and advantages?
A dataphone is a compact device, installed in a shop or store, allowing customers to charge their credit card or debit card. It consists of a card reader, using magnetic stripe or chip, a receipt printer and a connection system through a phone line or the Internet. Besides this, it allows online communication with the bank when the customer pays with his card.

A PIN PAD is a device connected directly to POS received the amount due, displays it for the customer, it introduces your card and your personal PIN and sends the result to the POS operation to print the ticket.
The basic advantage of PIN PAD is the integration of the entire sales process and collection in a single ticket and automatic handling of the amounts receivable to avoid errors and simplify the collection process and Cuadre order of the day.


3. What is a mPOS? - Bringing payment to small businesses and freelancers
The mPOS is a portable terminal which can make payments via mobile phone or tablet with the help of an application within the device, allowing users to perform transactions.              The terminal is connected to the audio input of a smartphone or tablet or it can be connected via Bluetooth and has a card reader that can process chip cards with PIN, and / or magnetic stripe.
The mPOS device works only with the smartphone or tablet with which the individual become a member.

With this solution, businesses can not only accept credit card payments in mobility, increasing security by not handle so much cash, save costs compared to traditional billing systems, but (and above all) thanks to the App environment mPOS may have tools at a very low cost, enable them to be placed in a position to compete.

They can manage their stocks with agility, have accounting tools, loyalty, marketing and communication with their present and future clients, send coupons, promotions, effectively manage customer information and products, and, in general, have access to a catalog infinite solutions, previously unimaginable, to help them manage their business efficiently and successfully.


4. Do you have an online business? Your choice is the Virtual POS
A virtual POS is a system that lets you charge for your services or products on your website, where the customer enters their data from Internet card in Secured mode.
Con el TPV Virtual vender por Internet es más fácil y seguro, para que tus clientes paguen en ella con la misma seguridad que en un terminal tradicional.
With the Virtual POS selling online is easier and safer for your customers to pay into it with the same security as in a traditional terminal.


5. What is a payment gateway?
The payment gateway is the adaptation of the POS system (Point of Sale) of credit card receivables Internet. They are platforms provided by banks or other service providers like Ecopaynet, to join in the process of payment of the virtual store. Assume the tasks of validation of transactions with credit cards connecting to private networks of card issuers across the Web.
To ensure the security of online transactions these gateways employ systems and security protocols.


6. What is 3D Secure?
The 3D Secure security protocol are the hallmarks of "Verified by Visa" for Visa, and "SecureCode" for MasterCard. This system ensures that the user who is making the purchase is the holder of the card used, preventing fraudulent transactions for misappropriation of a payment. The authentication process goes through, once entered card data, redirect the user to the page where the issuing bank in a key known only to the account holder requested. Once the password is entered (each bank chooses the type of key to be defined by the user), the client returns to your online store where payment is confirmed. 3DSecure Ecopaynet offers a configurable functionality according to your security needs.


7. What do you need to charge your business through electronic means of payment?
You need a Merchant account is a bank account for payment, which receive the amounts related to sales. Any bank account can be a Merchant account, just that you indicate where your provider should transfer you the money. This account is associated with a Merchant Merchant ID, a bank code that identifies you as authorized to trade receivables electronic payment
Ask your bank account and such it will manage the risk associated with it. The main risk from a merchant account is that any payment made appropriate to be canceled, fraudulent or customer complaint, and the appropriate amount should be borne by the trade cashed. In the event that the trade does not have funds the bank will be forced to take care of it.
There are also risks of irregular practices, which are subject to fines and penalties that will face the ultimate entity.