At the point when a purchase is made, the cardholder agrees to pay the card issuer. Also, many merchants currently accept verbal authorizations via phone and electronic authorization utilizing the Internet, known as a card not present transaction. Electronic verification frameworks allow merchants to check in almost no time that the card is valid and the cardholder has adequate credit to cover the purchase, allowing the verification to happen at time of purchase. The cardholder indicates agree to pay by marking a receipt with a record of the card details and indicating the amount to be paid or by entering a personal identification number. The verification is performed utilizing a credit card payment terminal or purpose of-sale framework with a communications connect to the merchant's acquiring bank. Data from the card is obtained from a magnetic stripe or chip on the card the latter framework is called Chip and PIN in the United Kingdom and Ireland, and is executed as an EMV card.