Card Reader
Categories: Tech
Like a psychic with tarot cards. Also, a way to pay for things...a very important device in today's world. More and more people rely on credit and debit cards to make purchases (as opposed to old fashioned cash that your grandpa uses). Whether it's an automatic teller machine (ATM) at your bank or a point-of-sale terminal at a store or gas station, card readers transmit the information that's on a magnetic strip and/or microchip on the credit or debit card.
If you are making a purchase, the name on the card, the account number, the expiration date and the validation code are sent to a payment processor. If you are using an ATM, the info gets sent to your bank.
Also, many electronic devices, such as an iPad or smartphone, can be used to accept credit card payments by attaching a small portable card reader.
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Finance: What is an ATM?23 Views
Finance a la shmoop what is an A-T-M... hmm that's automated teller machine ATM
there there the big ugly machines that puke $20 bills when puking is good you [ATM spitting out $20 bills]
see them in front of your bank and it stores the magic Aladdin lamp rub comes
via your plastic debit card which you insert and wait then
you type in your PIN or personal identification number and then well if [Person typing in PIN number on ATM]
you have cash in your account the cash machine will spit out the money YUM
these computerized robot machines also let you take care of other bank stuff
without having to schlep into the bank transferring dough between accounts and
depositing checks and so on...Basically all the stuff you can do with an app on [Girl using an app on her phone]
your smartphone now and the irony here should not be lost
ATMs replaced tens of thousands of bank tellers when they came out in the 1980s
they were the first mass job replacement of human beings with robots and and yes,
phone apps now are replacing those testy ATM robot machines yeah and for those of
you with job phobia over robots while the advent of the ATM machine is a good
allegory to follow your jobs coming next you [Mans eyes turn red]