How does Laser Card work?
When paying for goods and services at a Point of Sale (POS) terminal:
- The shop assistant enters the purchase amount into the terminal
- The card is dipped or swiped at the PIN pad or terminal
- The cardholder checks the amount and keys in their PIN to verify that they own the card
- If the customer wants Cashback, the amount requested is simply added to the cost of the purchase and is detailed on the transaction receipt.
The transaction amount is debited from the cardholder's account and credited to the retailer's account, normally within a few days.