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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.
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).
When a customer wants to pay with a card over the phone, a virtual terminal allows the person accepting payment (such as a call center agent) to enter the customer's credit card details to process the payment. Unlike when using a regular payment terminal, the presence of the payment card is not required.
Square charges a fee of 2.6% plus $0.10 on every electronically scanned credit card transaction [55] or 3.50% plus $0.15 per manually-entered transaction. No monthly or set-up fees are charged. The firm claims that its costs are, on average, lower than the costs charged by conventional credit card processors. [56]
EMV contactless symbol used on compatible payment terminals. EMV stands for "Europay, Mastercard, and Visa", the three companies that created the standard.Contactless payment systems are credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices, that use radio-frequency identification (RFID) or near-field communication (NFC) for ...
SHAZAM is a United States–based interbank network and EFTPOS network headquartered in Johnston, Iowa that operates primarily in the Midwestern United States.The network was founded in 1976 and is a member-owned financial services and payments processing company.
Verifone has sold numerous point-of-sale credit card reading products, including the ZON Jr (1984), Tranz 330 and ZON Jr XL(1987), Omni 460 (1991) and Omni 3200 (1999) which were the most successful transaction terminals of their times. [50]
Bancnet interconnects with international card networks Diners Club, Discover Card, KFTC, MasterCard, and VISA BancNet serves more than 41 million ATM cardholders of its 114 members and affiliates with over 12,000 ATMs and more than 5,000 POS terminals. In 2008, Expressnet outsourced its ATM operations to BancNet.