POS‘smart terminal
On this article you will learn about POS‘smart terminal .Gone are the times when everyone took cash, but are conventional card machines also phasing call at favor of the newest smart POS terminals? First, the basics: what does the overall term smart terminal mean? The name has been around since the first days of computing, therefore the explanation isn’t exclusive to card payment technology. Originally, it refers to any electronic terminal rendering graphics or with some micro processing capability independent from a number computer. In the context of card payments, the simplest thanks to explain is to match with the still prevalent simpler card machines.
POS‘smart terminal
Traditional card machines
A traditional card machine is additionally mentioned as POS (point of sale) terminal, PDQ (Process Data Quickly) terminal, EFTPOS (Electronic Funds Transfer at Point Of Sale) machine, or just a mastercard terminal – many names, same thing. This is often still the foremost common quite payment terminal, although it comes in several sizes, shapes and produced by different manufacturers. Its sole purpose is to simply accept payments by chip, contactless or magnetic tape. The terminal reads the credit or open-end credit (or mobile with the cardboard saved during a digital wallet), then processes it over a secure internet connection. It typically finishes off by printing a receipt for the transaction to verify the payment was successful or that it had failed.
There could also be other features on a standard card machine, like manual entry of card details for over-the-phone payments and therefore the ability to print Z reports at the top of a trading day, detailing sales totals by card type, failed transactions, refund then on. Until recently, you didn’t depend upon the cardboard terminal to perform more of your point of sale (POS) operations within the same device. Now that more people are wont to iPad and other tablets, smartphones and touchscreen interfaces in e.g. supermarkets and check-in terminals in airports, it comes as no surprise that this could reach card payment terminals.
From “smart” to “smart POS” terminals
“Smart terminal” has actually been around within the payment industry since the emergence of the primary open-end credit, i.e. chip (EMV) card. An EMV (Europay, Mastercard, Visa) card has an embedded chip acting as a security token for the cardboard machine to verify electronically. Terminals processing such cards with an inbuilt microprocessor – which could also use NFC (Near-Field Communication) and other contactless technologies – are mentioned as ‘smart terminals’ no matter how they appear. You still see internet sources using ‘smart terminal’ about card machines with standard push buttons and non-touch display. However, the definition in today’s world has shifted towards the unfolding trend of touchscreen card terminals. Today’s smart terminals may have both a touchscreen and physical keypad for PIN entry, or simply a touchscreen (or two). The familiarity of a typical PIN pad puts some customers comfortable, because it remains unusual for several to enter a PIN code directly on a screen.
But calling these newer-generation machines smart terminals isn’t almost appearance. Almost like a “smartphone” characterised by its amplitude of app functions packed into one touchscreen device, the new-generation “smart terminals” have the potential to try to do many things aside from card processing through an integrated app market with features downloaded specifically for the terminal. A number of these functions are enabled through terminal hardware features like an inbuilt camera or weight scale support.
Since card payments are a part of point of sale operations, it’s natural that the smart functions relate to POS features. Hence the name smart POS terminals, or SmartPOS terminals as some avid techies call them. Usually, when companies use ‘smart POS terminals’, they ask the cardboard terminals with a dominant touchscreen where PINs also are entered – so no physical keypad.
Characteristics of a sensible POS terminal
The software features available to the terminals are offered through the manufacturer’s own Android-based app market, usually with the choice to integrate other software or build new applications for the terminals.
Examples of features include offers displayed on the terminal screen, customer loyalty functions, barcode scanning, product library and registration of parcel deliveries for couriers Just like simpler card machines are made by different manufacturers, smart payment terminals are available different shapes and makes, e.g. the Spire SmartPOS terminals, Verifone Carbon series and myPOS Smart series. As for tech specs, smart POS terminals may:
Have 1 or 2 touchscreens. If there are two, one among them would typically be customer-facing.
Have a physical keypad, or use the screen for PIN entry (PIN on glass) and signatures.
Accept contactless, chip and swipe cards.
Have an inbuilt camera for barcode scanning and more.
Function through WiFi, 4G or 3G.
Have an inbuilt receipt printer.
Be portable, stationary or both. Some smart terminals from an equivalent manufacturer can even be synced, as within the case of Clover POS by First Data.
Most smart POS terminals can still be integrated with a POS system, external barcode scanner and other equipment if you would like it.