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From what I understand, merchants can do a quicker swipe (basically record the card # and transaction amount without waiting for authorization), but the merchan
by joezydeco 8y ago
From what I understand, merchants can do a quicker swipe (basically record the card # and transaction amount without waiting for authorization), but the merchant fees are slightly higher because of the possible higher fraud/chargeback rate. It's up to the chain to decide on what to do.
Perhaps CFA can do it even better since they could possibly keep a database of bad cards at the edge. Remember those books that cashiers used to thumb through to verify if a card was stolen?
- btown 8y agoOr keep a Bloom filter of hashes of repeat customers’ cards on the edge to accelerate their experiences.
- joezydeco 8y agoThe goal is to detect stolen/deactivated cards. Not sure how that helps.
- btown 8y agoIf it's a repeat customer, at the same location, then you can avoid contacting the payment processor gateway, and just record the transaction on the local cluster for later payment processing. The expected value of the loss if someone stole their card, and used it at the same restaurant that they frequent as a regular, after the card was canceled, and the restaurant gave the thief a chicken sandwich, and now corporate needs to eat that cost because the asynchronous CC transaction doesn't go through when they finally run it... is absolutely miniscule.