In the payments industry, a card imprint refers to the physical impression or imprint of a payment card onto a sales slip or a carbon-copy form. It was a common method of processing payments before the widespread adoption of electronic payment terminals. Here’s how card imprinting works:
- Sales Slip and Imprinter: The merchant prepares a sales slip or a form with the customer’s purchase details, including the transaction amount. The sales slip typically consists of multiple layers, including a carbon-copy layer.
- Card Placement: The customer presents their payment card to the merchant for payment. The merchant places the payment card on the designated area of the sales slip, with the carbon-copy layer positioned beneath it.
- Imprinter Operation: The merchant then uses a manual device called an imprinter, which consists of a sliding mechanism and a roller. The imprinter is positioned over the payment card and the sales slip.
- Sliding and Imprinting: The merchant slides the imprinter across the payment card, applying pressure to create an impression of the card details onto the sales slip. The roller transfers the ink from the card onto the sales slip, capturing the cardholder’s name, card number, and expiration date.
- Transaction Completion: After the card imprint is obtained, the merchant fills in any remaining details on the sales slip, such as the date, merchant information, and the customer’s signature. The customer signs the sales slip, acknowledging the payment and agreeing to the transaction.
- Merchant Retention: The merchant retains the original copy of the sales slip for their records, while the customer may receive a carbon copy or receipt as proof of the transaction.
Pros of Card Imprinting:
- Backup Option: Card imprinting provided a manual backup method for processing payments when electronic payment terminals were unavailable or malfunctioning.
- No Power Dependency: Imprinting does not require electricity or network connectivity, making it useful in situations where power outages or connectivity issues occur.
- Accessibility: Card imprinting allowed merchants to accept payment cards without the need for expensive electronic payment terminals, making it accessible to businesses with limited resources.
Cons of Card Imprinting:
- Limited Information: Card imprints only capture basic cardholder information like the name, card number, and expiration date. It does not capture additional security features like the card’s CVV code, making it less secure compared to electronic payment methods.
- Manual Processing: Card imprints required manual handling and processing, which could be time-consuming, prone to errors, and less efficient compared to electronic payment systems.
- Chargeback Challenges: In cases of disputes or chargebacks, card imprints might provide limited evidence compared to electronic transactions, making it more challenging for merchants to dispute claims.
It’s worth noting that card imprinting has become less common with the widespread adoption of electronic payment terminals and the shift towards digital payments. Electronic transactions offer enhanced security, real-time authorization, and more detailed transaction information, providing benefits for both merchants and customers.