What is magnetic stripe reader in SAP IS-R-POS - Point of Sale?

SAP Term: magnetic stripe reader

• Component: IS-R-POS

• Component Name: Point of Sale

• Description: Device that reads the magnetic stripe on a credit card for account information to automatically be processed for a transaction. A credit card reader is either integrated into a register, attached ontoa register as a separate component or is part of a stand-alone terminal dedicated for the sole function of processing credit card transactions.

Smart SAP Assistant

• Key Concepts: 
  A magnetic stripe reader is a device used to read the information stored on the magnetic stripe of a credit or debit card. It is a component of the IS-R-POS Point of Sale (POS) system, which is used to process payments in retail stores. The magnetic stripe reader reads the information stored on the card and sends it to the POS system for processing. 
  
  How to Use It: 
  To use a magnetic stripe reader, the customer must first swipe their card through the reader. The reader will then read the information stored on the card and send it to the POS system for processing. Once the payment has been processed, the customer can then complete their purchase. 
  
  Tips & Tricks: 
  When using a magnetic stripe reader, it is important to ensure that the card is swiped correctly. If the card is not swiped correctly, it may not be read properly by the reader and could result in an unsuccessful transaction. Additionally, it is important to keep the reader clean and free of dust and debris as this can interfere with its ability to read cards correctly. 
  
  Related Information: 
  The IS-R-POS Point of Sale system also includes other components such as barcode scanners, cash drawers, and receipt printers. These components are used in conjunction with the magnetic stripe reader to process payments in retail stores. Additionally, there are other types of payment processing systems available such as contactless readers and mobile payment systems.