Centralized Credit/Debit Card Acceptance

The past decade has seen an increasing use of credit and debit cards by consumers for purchase of goods and services at retail outlets. Payment through these cards provides consumers convenience, security and a credit period for paying for their purchases. Retailers also benefit through lesser cash management hassles, higher security and improved walk-ins through promotions carried out by card issuing banks. The traditional card processing methodology at retail involves use of an Electronic Data Capture (EDC) machine that connects to an Acquiring Bank for real-time authorization of cards presented at the retail. However the EDC machine runs independent of the retail IT system leading to certain wastages in the card processing. Use of modern payment technologies such as Innoviti's uniPAY can help both the Acquiring Bank and the retailer reduce wastage.

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Home >> Solutions >> Payment Processing >> Centralized Credit Card Acceptance

Centralized Credit/Debit Card Acceptance

Conventional credit/debit card systems at retail use an EDC machine that connects to an acquiring bank and authorizes credit/debit cards presented at the machine. These EDc machines are provided by the banks or purchased by the retailer and operate independent of the retailer's IT system. This kind of an architecture leads to the following wastages: a) hardware equipment and maintenance costs, b) human errors in reconciliation of billing and payment, c) communication costs and d) settlement delays. Innoviti's uniPAY client-server product addresses these limitations as shown in the architecture below. Innoviti's solution is certified under PA-DSS guidelines by PCI Council for management and processing of credit/debit card transactions.

Centralizes Credit Card Acceptance

How it works?

  • uniPAY client is integrated with the retailer's POS to accept credit/ debit card and to route the transactions towards uniPAY switch over LAN, GPRS, VSAT, Internet or any other communication medium.
  • uniPAY switch routes the transactions to acquiring banks based on retailers preference over lease line.
  • Acquiring banks send the transaction to issuer banks through Master/ VISA for authorization.
  • Once the transaction is authorized approval comes back on POS along with the bill copy.
  • End of the day batch for all the outlets closed automatically and centrally with each acquiring bank.

Benefits

  • Integrated billing and payment application removes human errors related to value entry on EDC, payment mode selection and other common human errors such as double swipes.
  • Rationalization of hardware by elimination of EDC and associated maintenance charges.
  • Removal of telephone charges as transactions are routed over a retailer's existing IT network.
  • Central settlement (batch-closure) across all POS systems, eliminating settlement delays that arise in EDC based systems due to EDC failures.
  • Automatic discounting based on bank, card type, association.
  • Faster transactions (< 5s).
  • Integrated bill and payment charge-slip allowing for easier records management.
  • Analytical reporting ability for identifying card brand/grade usage.
  • PA-DSS certified secure application helping in protection of card-holder data at the retailer.

FAQ's

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