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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.
A virtual terminal is a software application (often a web application) for merchants which allows them to accept payment with a payment card, specifically a credit card, without requiring the physical presence of the card (“card not present transaction”).
Payment cards are part of a payment system issued by financial institutions, such as a bank, to a customer that enables its owner (the cardholder) to access the funds in the customer's designated bank accounts, or through a credit account and make payments by electronic transfer with a payment terminal and access automated teller machines (ATMs ...
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Payment gateways are a service that helps merchants initiate e-commerce, in-app, and point of sale payments for a broad variety of payment methods. The gateway is not directly involved in the money flow; typically it is a web server to which a merchant's website or POS system is connected.
A QR code payment is a mobile payment method where payment is performed by scanning a QR code from a mobile app. [1] This is an alternative to doing electronic funds transfer at point of sale using a payment terminal . [ 2 ]
Free-to-play games that include a microtransaction model are sometimes referred to as "freemium". Another term, "pay-to-win", is sometimes used pejoratively to refer to games where purchasing items in-game can give a player an advantage over other players, particularly if the items cannot be obtained through free means. [3]
It emulates swiping a physical card without having to upgrade the terminal's software or hardware to support more advanced technology, such as contactless payments. Hence, in contrast to payments using near-field communication , MST technology is compatible with nearly all payment terminals that possess a magnetic stripe reader.