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Acquiring system

A bank terminal is a device for accepting payments from bank cards. The client inserts or attaches the card to the device, and the money goes from the plastic to your current account. But the terminal, which is good for a supermarket, is inconvenient for delivering pizza or serving restaurant guests. We will tell you which devices are suitable for different types of business.

The main functions of the banking terminal

  • Work algorithm

  • Device capabilities

Terminal classification

  • Shopping – for shops

  • Autonomous – for any situation

  • Mobile – for distribution trade and services

  • Vending machine – for machines and self-service counters

Terminal models for different types of business

  • Large store

  • Small shop

  • Cafe Restaurant

  • Delivery, taxi, home services

The main functions of the banking terminal

The payment terminal helps to accept non-cash payments from cards and smartphones. It is called banking, as it provides an acquiring procedure in a bank: it transfers customers money to your settlement account, and vice versa. It is from their acquiring bank that entrepreneurs most often buy or rent terminals. The bank installs authorized software on them, configures and maintains the devices.

Work algorithm

The terminal is the first link in the acquiring chain. From the outside, everything looks simple: the buyer inserts the card into the device, the money for the purchase is debited and in a couple of days it is credited to your current account. In fact, the circuit is a little more complicated. It involves:

  • a customer with his card, smartphone or smart watch;

  • the issuing bank, which contains the buyer s money;

  • the seller with his accountant;

  • the acquiring bank, which controls the transfer of non-cash from the buyer s card to the seller s settlement account (the settlement account itself is almost always opened in the same bank).

In addition, the terminal must be paired with an online cash register. Situations when it is possible to trade or provide services without a cash register are vanishingly few today, so these two devices will have to be configured to work together.

Here is the cashless payment algorithm:

  1. The buyer prepares to pay for the purchase with plastic or a gadget, the cashier prepares the terminal to accept payment.

  2. The client brings the card to the device, inserts or conducts a magnetic stripe through a special slot, if necessary, enters a pin code.

  3. The terminal sends information to the processing center of the acquiring bank.

  4. The bank looks to see if the buyer s card is included in the stop-list, and in case of a good situation, transfers the information to the issuing bank.

  5. The issuing bank checks the balance on the account and the amount of payment, if there is enough money, it writes off the amount.

  6. If the terminal has a mini-printer, it prints two acquiring receipts (slip) – one for the buyer, the other for the seller. Slips confirm the wire transfer. If there is no printer, it creates an electronic receipt to be sent by mail or a QR code to go to the page with a slip. At the same time, the terminal sends data about the payment to the cashier, and it prints two cashier s receipts, which confirm the purchase.

The money will not go to your account immediately. At the time of payment, the issuing bank only blocks funds on the buyer s account. When the acquiring bank sends it the supporting documents for the transfer, the issuer transfers the funds. Usually it takes 1-3 banking days, but when concluding an agreement, specify the terms: some banks take a week or more with the transfer.

Device capabilities

Terminals consist of a set of different elements, their capabilities depend on this.

  • The display can be elementary monochrome or color with a high resolution, then programs with a more convenient interface can be installed on the device.

  • Keyboard for managing settings, for entering the payment amount and pin code. In addition to the device, you can connect a small external keyboard on a wire – a pin-pad. Some pin-pads are also equipped with an NFC module for receiving contactless payments.

  • Card readers: for reading cards with a magnetic stripe and a chip, as well as an NFC module – they can all stand on one device. The more payment options you have on your device, the better. Contact payment using a chip or magnetic stripe seems outdated, but such cards are still the cheapest for banks, which means they will be in use for a long time.

  • Elements for accessing the network: Wi-Fi module, Bluetooth, a connector for an Ethernet Internet cable, a SIM card slot for mobile Internet. Most often, one device has several modules from this list, and through the Ethernet connector, you can access the network using a telephone line – for many devices, such a Dial-Up channel works as a backup.

  • Mini printer: some models have it, others don t. Terminals without a printer create electronic slips. Terminals with a printer are of two types: a device independent of the cash register (then it prints slips) and a payment terminal + cash register in the same case (then it prints cash receipts, which differ in information and status from slips).

  • Fiscal registrar – a device for storing and transferring data on purchases to the tax office. As is the case with the printer, some models have it (less often), others do not. Models with a fiscal registrar are a cash register + a terminal in one case.

  • Ports for wired connection to online cash register or pin-pad connection.

  • A block with a processor and RAM.

  • Battery or power supply.

Terminal classification

There are several types of banking terminals, which differ in the range of features and cost. This classification is better known: there are more than a hundred terminal models, and the name of any of them, for example, Verifone VX520, will hardly tell you anything. But ask the bank manager what type the device belongs to and what elements it is equipped with, and you will quickly find your bearings.

Shopping – for shops

This is the largest class of terminals that are connected to a full-fledged online checkout using a cable or wireless.

  • A wired connection is more reliable: the terminal is connected to the cash register using a USB cable or a COM port. The device is powered and connected to the network through the checkout, is faster than wireless, and is cheaper.

  • Wireless connection is convenient for catering or salons, where it is customary to approach the client for payment. The device will have to be programmatically “docked” with the cash register and set up both devices to work in the same WiFi network. Such devices are more expensive than wired ones, and you need to take care of their recharging.

If you have a task to save money, buy a trading terminal without a receipt printer, with the ability to send slips electronically. The device works in conjunction with the cashier, which means that the client will still receive a cashier s check. At the same time, a device without a mini-printer is 5-15 thousand rubles cheaper.

Autonomous – for any situation

This is a device that combines an online cash register and a payment terminal in one case, it is also called a smart cash register. It accepts non-cash payments, punches a cashier s receipt and sends data on purchases to the tax office. A big plus is that a smart cash register is 15-30 thousand rubles cheaper than a set of separate cash desks and terminals. It can be installed in a store or used for distribution trade and courier delivery. Cons – slower data processing compared to a regular checkout and less user-friendly interface: if the company has a lot of products, it will be difficult for the seller to work. Cash payments via smart checkout can also be carried out.

Mobile – for distribution trade and services

It is a small card reader that attaches to a smartphone and is controlled by an app. Banks boldly promote such devices because of their availability: they cost only 3-8 thousand rubles. But the commission for the acquiring service when working with a mobile mPOS terminal is higher, and the security class is lower due to work through applications, and besides, data processing is slower.

An important nuance: in order not to violate the law, you must send the purchase data to the checkout and issue the buyer a sales receipt. The courier will also not carry cash equipment with him, so the issue is resolved through the remote cash register service. You conclude an agreement with an operator who accepts information about your payments through a mobile terminal at the cashier. The remote cash register sends data on purchases to the tax office, and for the buyer generates an electronic cashier s receipt with all the details and sends it by e-mail, phone number or transmits it via a QR code.

Vending machine – for machines and self-service counters

To increase the volume of sales in vending machines, they are equipped with anti-vandal banking terminals. Such devices can also be seen at remote order counters in cafes and at self-checkout counters in supermarkets. Such a terminal looks like a panel with a screen, a keypad for entering a pin code, a contactless payment area and a card reader.

Terminal models for different types of business

Large store

For stores with high traffic, where speed of service is important, a trading terminal with a wired connection to an online checkout and cable Internet is optimal. To save money, buy a device without a slip printer. And for convenience, mount it on a rotating bracket closer to the customer, or add a remote pin-pad. This will make it easier for customers to pay and dial a pin code, and the terminal will not have to constantly move, loosening the connectors, and you will save on equipment repairs.

Another plus of the terminal + full-fledged cash register is a user-friendly interface and work with an assortment of goods. It is easy for the cashier to find the desired product or read its cost and article using a barcode scanner. The checkout will send data about purchases not only to the tax office, but also to your inventory service.

Small shop

For kiosks, boutiques, coffee shops, salons with low traffic and a small assortment, a trade terminal + an online cash register is also suitable (this set, in general, is suitable for any stationary retail outlet). But to save money, you can buy a smart cash register, moreover, it almost does not take up space on the counter. Many smart checkouts support software that connects to inventory systems and customer base management services, so you can easily track sales results.




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Cafe Restaurant

It is more convenient for a catering establishment to work with a trade terminal and a cash desk in order to cover the entire range and serve guests without delay. If your waiters come to the table for payment, you need a terminal with a wireless connection to the checkout. The main thing is to provide a stable Internet connection via WiFi and GPRS. In a large hall, set up several terminals so as not to keep guests waiting if one device freezes.

Delivery, taxi, home services

For the distribution trade, delivery services, taxi drivers, and home-based craftsmen, there are two legal solutions.

An autonomous terminal, or a smart cash register, will help a courier or taxi driver to accept payment by bank transfer or cash and honestly issue a paper cash receipt. You just need to take care of a stable Internet via GPRS or Wi-Fi, which can be distributed from a smartphone. And also – start a charger to recharge the terminal in the car.

The most budgetary option is a mobile reader on a smartphone or tablet. It works wherever there is a cellular connection, the main thing is to monitor the charge of the smartphone. So that the tax office does not have any claims against you, you will have to conclude an agreement with a remote cash register service and send customers electronic receipts by e-mail, phone number or via a QR code.

Post Author: Rachel Reinbauer

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