Online Transaction Vs Card Present Transaction- Which One Is Safer Amid COVID-19
Online transaction has become a new way of making transactions in the 21st century. Along with the online transaction, people are making bill payments through card present transactions. However, it does not matter whether you are making card present transactions or online transactions, both are efficient and better than cash transactions. But, COVID-19 has changed the entire ecosystem of payment. Standing in such a situation, we can clearly see the difference between card present transactions and online transactions.
Difference Between Card Present Transaction And Online Transaction
Well, there are differences between card present transactions and online transactions. As a merchant, you have to understand his to cope up with the present competitive situation.
When it comes to card present transactions, the credit card or debit card is required. Moreover, the presence of cardholder is compulsory. The cardholder needs to swipe or tap the card over the payment terminal. Thus, the merchant will able to accept credit card payment. However, the merchant must have an advanced credit card machine in order to complete the transaction flawlessly.
Now, in such a case, if the customer loses his or her credit card, the transaction will not be completed. Moreover, the cardholder must put the right PIN to complete the credit card transaction. However, customers can also make a contactless transaction where he or she does not need to enter a PIN.