device the card reader 206 performs various magnetic data operations and checks on the card magnetic data 204 for example a longitudinal redundancy code lrc check that helps assure a valid read of all the data has been made once the card reader 206 has determined the card magnetic data 204 is good an approval request message 208 is sent to a card acquirer 210 such message includes the user account number dollar amount of the transaction and merchant identification id it further contains special transaction serializing information to detect skimming and other fraud the validation processing center 210 provides regional high speed network servers that are often operated by third parties and not the issuing banks the validation processing center 210 checks to see if the user card 202 is not stolen or lost and other first level account validation it may also have cached some information from an issuing bank about this user account if the account has been processed before very recently a card acquirer approval message 212 is sent to an issuing bank 214 it also includes the user account number dollar amount of the transaction and merchant identification id the user account is checked to see if adequate funds are available and if so sends an authorization message 216 a reconciliation of the user account is made and the merchant 39 s account is credited with a day or two the card acquirer 210 records the issuing bank authorization and forwards an approval message 218 the merchant point of sale card reader 206 displays the approval and an.