A payments terminal is a device used by businesses to accept card and digital payments from customers. When a customer swipes, taps, or inserts their card into the payments terminal, it reads the payment details securely. The terminal then sends the encrypted transaction data to the bank or payment processor for approval. Once approved, the payments terminal confirms the transaction and generates a receipt for the customer and merchant. Finally, the funds are transferred from the customer’s bank to the merchant’s account after settlement.
How does a payments terminal work? |
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