An apparatus for processing a recording medium with embedded information is disclosed, which comprises: a Y shape channel mechanism including a first channel, a second channel and a third channel, wherein all the channels are joined with each other at the inner end; a processing device including a magnetic head mechanism which is located in the first channel and used for reading magnetic information of the recording medium and a print mechanism located on one side of the third channel or one side of the second channel ; and a guide mechanism, located at the joining position of the first channel, a second channel and the third channel and used for guiding the recording medium to be conveyed among the channels. A method for processing a recording medium with embedded information is also disclosed. The solution can realize the reading of the magnetic information and the overturn of the recording medium so that the printing on both sides of the recording medium can be realized by using one print head.