Nowadays, POS machines have become one of the effective payment devices for every store, making business management easier than ever.
So What is a POS machine? How does it works? and Is there any charges on POS machine? ATOM will answer all your questions right away!
1. What is a POS?
When you search on the toolbar for “What is a POS ” or “What does POS stand for,” Google will undoubtedly return thousands of results with a variety of definitions and facts.
To summarize, POS stands for Point of Sale, is a device that accepts all card payments used in most commercial centers, stores, restaurants, retail points.
POS machines are becoming increasingly popular due to the benefits they provide, such as their small size, simple interface, and ease of installation.
2. Everything you need to know about POS Terminals
2.1 What are the payment methods for POS?
There are 3 methods of payment via POS machine:
Pay by Smartphone (without using card)
- Download payment app like Android Pay, Apple Pay, Samsung Pay.
- Then, touch the phone close to the POS machine, enter the PIN to complete the transaction.
This eliminates the need to carry a wallet, a card, or money, allowing you to avoid various personal risks.
Pay by swiping a magnetic card
- Insert the card and swipe to the side of the POS machine.
- Enter the PIN, sign the invoice and complete the payment.
This is the most common way to pay via POS machines and applies to domestic cards, the most popular being domestic debit cards.
Pay by inserting a card with an EMV chip
- Insert the card with the chip into the card slot at the bottom of the POS machine
- Sign the invoice and complete the payment
There is no need to enter a PIN code. This payment method applies to Visa/MasterCard/JCB international cards… and is much safer than magnetic cards.
2.2 Which card is used in POS machine?
The majority of State Bank ATM cards are accepted by POS machine.
- International cards including Visa, MasterCard, JCB, Unionpay, American Express.
- Domestic cards include ATM cards of stores such as Techcombank, Vietcombank, Agribank, BIDV, Viettinbank,……
2.3. Is there any charges on POS machine?
- For cardholders
According to current regulations, all payment transactions via POS machines do not charge cardholders. Therefore, paying with a POS machine is completely free.
- For business owners
In addition to the POS installation fee , the business owner will have to pay an additional fee to the bank. Each transaction is made at the POS machine charges a fee that ranges from 2% to 2.5% for international cards and <1% for domestic cards
2.4 Benefits when using the POS machine
There are many benefits of purchasing a POS system for both bussiness owners and customers.
For bussiness owners
- Minimizing risks from cash payments: counterfeit money, torn money, ..
- Improve revenue for businesses because the trend of payment via card is favored by customers.
- Easily manage revenue with transaction reporting system
- Save time, reduce workload for employees
- Convenient payment with a variety of forms
- Fast transaction, minimizing risk from using cash
Surely, after reading this essay, you have a thorough understanding of the POS machine and its associated information. Don’t put it off any longer, use it right now!
To become a partner of ATOM Solution and use ATOM-POS, please contact:
Hotline: 1900 3353