A POS (point of sale) terminal machine is an electronic system mainly used in physical retail locations to process card payments.
Having a POS terminal machine in-store is integral as contactless payments have become popular among consumers who favour touch-free card payments.
Additionally, having a POS device for in-store card payments can free up time and help you boost your revenue. Besides, who would want to miss out on sales and see customers who prefer to pay by card walk away? Moreover, contactless and mobile payments lead to millennials, an ever-growing demographic with significant economic force. The contactless functionality has helped card payments take off, indicating that retailers who accept card payments of any type should not only diversify their payment offering but remain competitive and drive more sales.
Although there is no silver bullet if you’re on the lookout for the best POS terminal, you should get acquainted with the very basics of card-present transactions.
What is a POS terminal machine?
The definition of a POS terminal machine is an electronic system that is mainly used in physical retail locations to process card payments. In a nutshell, POS terminals enable card data capture and the secure transfer of funds from the customer’s account to the merchant’s.
This is not to say that a single POS machine exclusively represents the checkout process. Modern POS terminals can integrate with ECR (electronic cash registers) and ePOS (electronic point of sale) systems to help merchants facilitate their operations and ongoing tasks.
A POS system often comprises the following components.
- It is a POS terminal where customers tap their card or enter their PIN, better known as chip and pin payment.
- ePOS system used in conjunction with physical equipment such as the POS terminal and a computer or a tablet
- An ECR (electronic cash register)
- A barcode scanner
These are just a few examples of the hardware usually linked with POS terminal machines; each type of business requires different hardware, depending on the nature of the products or services offered to customers.
POS payment solutions for your business
A reliable POS system is indispensable for retailers of all sizes. Consumers want to pay for their purchases anywhere, any time. Paired with advanced technological features and popular payment methods, POS terminals are essential for every retailer to build and grow their business.
POS system can provide a sophisticated range of POS terminals, coupled with the latest security requirements and various network connectivity capabilities, including wireless availability, so you can move your POS terminal around your store whenever needed. On top of that, you can seamlessly accept gratuities with our card payment solutions – tipping is a sought-after feature in sectors spanning from food and drink to beauty salons and hairdressers, to name a few.
With a customer-centric approach, friendly user experience and equipped with the most up-to-date security standards, POS terminal machines allow you to optimise your business and cover all transaction points. Accept major debit and credit cards, chip and PIN, magstripe and contactless payments and popular payment methods such as Apple Pay, Google Pay securely and seamlessly.
The POS terminal machines can integrate into your current ePOS system in simple steps. With expertise in the card payments industry, POS systems can help businesses expand their payment options and optimise the in-store customer experience.