Introduction of Payment Terminal

A payment terminal is a combination hardware and software device that allows retailers to accept payment from a customer’s debit or credit card. The payment terminal often called the point of sale (POS) or point of purchase (POP) is where a transaction is made.  The payment terminal is also called a credit card terminal or Electronic funds transfer at point of sale, EFTPOS. The term most widely used for a payment terminal is a POS System. 

The installation cost of the payment terminal depends on the size of the business. Small businesses can rent the terminal while paying a fee per transaction. Large business rent also but most purchase a whole POS system.

Best Payment Terminals:

• Square
• Shopify POS
• QuickBooks Payments
• PayPal Payments Pro
• Equinox Payment Terminal

Benefits of Accepting Credit Cards:

• Maximize Sales: Accepting payment from multiple sources is always convenient for both the customer and business owner.  With 70% of people having credit or debit cards and 1.5 Billion cards in circulation. It is a must to have a payment terminal for credit cards.
• Improve Cash flow: Credit and debit card transaction are processed electronically and settled quickly. All transaction amounts are directly deposited into a business’s bank account. 
• Eliminates Risk: Credit card transactions are secure and reduce the risk of fraud. Using a secured and professional merchant service provider, you can easily deliver secured credit card payments that protects a customer from fraud.
• Convenience/Rewards: Customers always want several payment options and credit cards are easy to use. Some credit cards companies offer shopping points, travel mileage, and reward options. These incentives encourage card holders to use their cards.
• Customer Support: When accepting credit cards if there is an issue the support team is usually available 24/7.

One great payment terminal system is the Equinox POS.  With smart architecture, advanced security, rapid deployment, smart hubs and Intuitive card readers, the Equinox payment terminal leads the pack. Hire Equinox developers from Chetu and get better and effective Equinox payment terminal development services.