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Verifone introduced its first POS product in 1982. [21] By lowering manufacturing and operating costs through outsourcing production, Verifone brought its first system to the market at $500. Working with Visa, Verifone captured a large share of the POS market. In 1984, the company introduced ZON credit card authorization system was priced at $125.
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 TRANZ 330 is a popular point-of-sale device manufactured by VeriFone in 1985. The most common application for these units is bank and credit card processing, however, as a general purpose computer, they can perform other novel functions.
It went on to dominate the South Pacific region in terms of payment terminals. In 1988 the company signed a deal with American Express to provide its terminals to them in the US. To consolidate the deal, Hypercom moved its head office from Australia to Arizona in the US. It then faced head-to-head competition with VeriFone on its home market. [1]
PAR Introduces New Value-Priced POS Terminal - PAR EverServ® 500 The Compact, Reliable PAR EverServ 500 is Distributed Globally Through Channel Partners NEW HARTFORD, N.Y.--(BUSINESS WIRE ...
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).
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