Credit card small white science: one minute to understand the principle of POS machine receipt


Use the card small white science: one minute to understand the principle of POS machine receipt

The small series of popular science series has begun again.

Many people will ask me, can I buy my own card for the POS machine I purchased?

The answer is: Of course. The pos machine can swipe any credit card to collect the order.

Then, someone will continue to ask, can the bundled payment card be my own?

The answer is: Of course you can.

Why is this so? Do you brush your credit card to your own payment card without being noticed by the bank?

Of course not, UnionPay’s record will be a normal collection. The same is true for banks, so what is the reason?

This involves the first keyword we share today: the payment mechanism.

Why is the payment mechanism not discovered? That said, it is necessary to comprehensively introduce the rise and development of China's payment industry. To this day, the regulatory authorities have not been able to grasp the details in substance.

Therefore, there is still a considerable gap in the market. It is in a place that has not been touched by the supervision. Therefore, the personal pos receipt that we are so convenient now will appear.

Is personal POS receipt legal? Of course, legal, because Alipay is one of the largest payment tools for personal receipts, if you want to say that personal pos is illegal, then Alipay is the biggest illegal institution.

So where is the difference? It is the payment mechanism that realizes the payment mechanism of T0. On the one hand, it can be said to be financial innovation, but there are many risk factors.

We complete a normal credit card payment, and payment settlement is a complicated process.

What is the normal process?

We swipe 1 pen, this order POS will transfer the pen, and it will reach the payee account after the settlement of UnionPay Bank. This is a normal normal process, and the time will be T+1.

What is the payment process?

We swiped a card on the pos machine, and the account with the pos binding will immediately receive the settlement payment for this payment. The realization of this speed depends on the payment agreement signed by the payment institution and the bank.

That is to say, the payment account is paid by the bank, not the settlement amount of your card payment. The real settlement needs to be completed within T+1 working days. That is actually how to pay the payment between the company and the bank. The problem is.

Therefore, some POS in the market to swipe or collect money, why not worry about the problem of the payment card and your own credit card, that is because the account body that gives you the settlement payment is different, although it is the same as the payment institution’s public account in the bank, but definitely Not the same specific account.

The existence of different public accounts is the reason

That is to say, between your credit card and the payment card, there is an intermediate account: the public account of the payment institution exists, and the credit card is linked, so you don't have to worry about it.

Because payment institutions and banks can now bypass the existence of UnionPay's separate settlement of receipts, wherever you are, all the data you display will be split.

That is: on the same day my credit card swiped a sum of money and paid out.

On the same day, my savings card received a settlement, but where is the settlement, UnionPay does not know.

So, do you understand why?

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