How Do POS Terminals Work?


Points of sale (POS) terminals are used in payments. Wholesalers use point-of-sale terminals to take buyer payments by credit card. A financial tracking method is connected to point of sale terminals through systems that process credit and debit card payments. Point of sale equipment can print copies of the sale for the customer and the merchant. Internet-based point of sale terminals is used by businesses with multiple locations or absentee owners who can view the day's transactions from anywhere.
1 Additional Answer
POS terminals are loaded with software and hardware that can read a magnetic stripe from a credit or debit card. It then transmits financial information of the purchase to a processor, who then routes the information to the appropriate financial institution for approval or denial.
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