Abstract: A system and a method for processing a payment by using a card reader device is provided. The method includes: initiating, by a processor, a communication with a server that is associated with a financial institution via an Internet connection; receiving, from the server, a first payment processing application that is associated with the financial institution; receiving, from the card reader device, payment information that relates to a proposed transaction; using the first payment processing application to determine whether to authorize the proposed transaction based on the received payment information; displaying either a confirmation message indicating that the proposed transaction is authorized or a rejection message indicating that the proposed transaction is not authorized; and transmitting a result of the determination to the server.