Credit card swipe security: the principle of overseas POS machine and the risk analysis of overseas credit card

Credit card swipe security: the principle of overseas POS machine and the risk analysis of overseas credit card

I don't know when to start, there is a way to swipe the card online, saying that as long as the so-called overseas POS brush is used to brush your credit card, one out of the temporary, two out of the reserve fund, three fixed. Then let a lot of cardholders feel excited and buy without hesitation. But is it really as they say? The key point to be said today is to expose the principle of POS machines outside the country and the risk of swiping cards! Friends, let's take a look down.

The overseas POS machine refers to: using the domestic (domestic) credit card to simulate the credit card consumption on the POS machine of the overseas (foreign) merchant, so that the card issuer thinks that the cardholder is abroad, on the one hand, it is considered to have sufficient consumption. The ability to improve credibility will, on the one hand, allow card-issuing banks to provide consumers with temporary quotas and other financial services for consumption abroad.

It is important to point out that this kind of overseas POS card is different from the general cash. Generally, such overseas POS only provides 100-200 yuan for small consumption. This money will eventually go to the account of the overseas merchant controlled by the system operator. For the user to receive the account, the money received is used as the service fee to be obtained by the system operator, and then distributed according to the parties in the industry chain.

Overseas POS industry chain profit:

System builder: machine opening price, activation code and other opening fees, deducting part of the cost and getting the full amount of credit card funds.

Agents: Selling overseas POS machines to earn a difference for all types of credit card intermediaries, while earning a share of credit card funds.

The benefits of the intermediary are: to help the cardholders with the need for funds to operate the temporary quota to earn commissions, to help the cardholders with the card needs to make false purchases, to provide credit card credibility and to obtain a fixed amount of credit card.

End-users: Generally, if you want to obtain a temporary quota, you need to “reserve” and “report” in the issuing bank, and then you will open a package such as “Universal Gold”, “Yuanmengjin”, “Caizhijin” and “Suixing Loan”. Simulate the consumption of small-scale consumption of 100-200 yuan abroad, and obtain a high temporary quota (10-30 days). As some card-issuing banks will determine that the cardholders are spending overseas, indicating that the customer's quality is high, the fixed amount of the credit card will be increased. . The general user's fee is: the amount of credit card and the payment of the intermediary service fee based on the temporary amount obtained.

Summary: Friends read the above information, it can be clearly seen that this so-called overseas POS machine is not a POS machine in the strict sense. The so-called card temporary and out of the reserve fund is just a gimmick, reminding friends, and paying for any products and things in the industry is not shallow, because many things are not accessible to ordinary users at ordinary times and difficult to understand The information will cause blind spots on friends' information, and friends should choose carefully when using so-called foreign currency POS machines. I hope this information will help my friends.