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PAX Technology S90 credit card terminal with a Visa card inserted.. A payment terminal, also known as a point of sale (POS) terminal, credit card machine, card reader, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly" [1]), is a device which interfaces with payment cards to make electronic funds transfers.
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed.At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment.
Electronic Funds Transfer at Point Of Sale, abbreviated as EFTPOS (/ ˈ ɛ f (t) p ɒ s /), is the technical term referring to a type of payment transaction where electronic funds transfers (EFT) are processed at a point of sale (POS) system or payment terminal usually via payment methods such as payment cards (debit cards, credit cards or gift cards).
The terminal uses a CVM list read from the card to determine the type of verification to perform. The CVM list establishes a priority of CVMs to use relative to the capabilities of the terminal. Different terminals support different CVMs. ATMs generally support online PIN. POS terminals vary in their CVM support depending on type and country.
The MX 870 is capable of full screen video and is used to build applications by Verifone customers. The MX 870 is the first in the MX 800 series of Visual Payment Terminals, to compete with MX 850, MX 860 and MX 880. All of these terminals run Embedded Linux and use FST FancyPants and the Opera (browser) for their GUI platform.
Square Terminal features a display, prints receipts, and accepts chip, swipe, and contactless payments. [42] Unlike the basic card reader, it does not require a phone or tablet. It is more affordable than Square Register. It was designed to replace the older credit card terminals encountered in many stores.
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