What happens when you swipe a credit card
tech.affirm.com
What happens when you swipe a credit card
1–10 of 178 posts
Re: What happens when you swipe a credit card
#2That title is a lot less fun if you're standing in front of a whiteboard and someone is judging your answer.
Re: What happens when you swipe a credit card
#3kinda like https://github.com/alex/what-happens-when
Re: What happens when you swipe a credit card
#4> swipe your card
Sadly swiping is being replaced by chipcard.
Re: What happens when you swipe a credit card
#5> swipe your card Sadly swiping is being replaced by chipcard.
Why sadly?
Re: What happens when you swipe a credit card
#6> swipe your card Sadly swiping is being replaced by chipcard.
Why sadly?
Because it takes five times as long[1] to process in the reader, and adoption for register terminals is spotty.
EDIT: add reference
[1] https://www.quora.com/Why-are-chip-payments-so-slow-in-the-U...
Re: What happens when you swipe a credit card
#7>If the merchant doesn’t settle within a certain time frame specified by the network, then the authorization expires and the reserved funds are released (as with every complex system, there are caveats here too).
Where can I read specifics for each network?
Also, the post doesn't do a good job of explaining what affirm is. All I know is it's some kind of alternative.
Re: What happens when you swipe a credit card
#8> swipe your card Sadly swiping is being replaced by chipcard.
Chip cards replaced swiping over a decade ago, and a couple of years ago contactless replaced chip cards for most purposes.
Does anyone literally swipe a credit card any more? I can't remember seeing it done in years except in some parts of Europe.
Re: What happens when you swipe a credit card
#9> swipe your card Sadly swiping is being replaced by chipcard.
Chip cards replaced swiping over a decade ago, and a couple of years ago contactless replaced chip cards for most purposes. Does anyone literally swipe a credit card any more? I can't remember seeing it done in years except in some parts of Europe.
Yup.
Re: What happens when you swipe a credit card
#10>If the merchant doesn’t settle within a certain time frame specified by the network, then the authorization expires and the reserved funds are released (as with every complex system, there are caveats here too). Where can I read specifics for each network? Also, the post doesn't do a good job of explaining what affirm is. All I know is it's some kind of alternative.
it's almost always a 30 day window to run a capture from the date of initial auth.
i've seen few "caveats". paypal has some tighter constrains on their fund availability guarantees. they make you run a re-auth after 48 or 72 hours - i forget the specifics, but it's in their api docs.