Point of sale

Payment terminals

What are payment terminals in POS Systems?

POS payment terminals typically have a keypad and a screen. This screen allows the cashier to enter the transaction information including the credit card information and the amount of the purchase. Compared to swipe and contactless methods, payment terminals facilitate a smooth and secure means of payment.
When the customer uses a credit or debit card as the chosen mode of payment, a point sale terminal reads the cards magnetic strip to check for sufficient funds in a customers bank account to make the transfer. HP, Approx, 10pos, Approx TPV, and Avpos are the well known brands that offer complete equipment and accessories needed for setting up a POS system.
When payments are made through a POS terminal, the risk of internal and external fraud is lower. To ensure the safety of customers’ information, the person in charge of the payment terminal uses a privacy policy to avoid unauthorized access of the customer data and minimize the risk of credit card information theft.
POS systems comprise hardware and software systems that carry out the entire process from accepting to processing card payments at retail stores. The major advantage of a POS terminal is that compared to traditional methods of payment it accepts payments faster.
Today, the POS payment terminal is considered the most integral part of the system that has made it easier to record, track and process, calculate taxes, and create reports about the transactions.