The word acquiring owes its origin to the English acquire, which means “receive” or “acquire”. In fact, this term means receiving payment for a service, product or work through a payment card. The authorized acquirer bank, which installs payment terminals at retail outlets, is responsible for this process. In the case of using standard merchant acquiring, the bank makes the connection of the acquiring terminal. This applies to service structures, such as public transport, service stations and others. The Bank installs mobile POS-terminals there, if there is a need for mobile acquiring.
Now around the world there is the possibility of paying for most purchases and services with payment cards at more than 18 million trade enterprises and the service sector. This is a huge time saver for both the consumer and the seller. Types of acquiring terminals contribute to this.
The vast majority of the acquiring market is occupied by banks that are members of the MasterCard and Visa payment systems. In the United States, American Express has long been used. The cards of this company are widely distributed all over the world and are also used in acquiring terminals.
Everyone who knows about Internet acquiring who uses the Internet to carry out various financial transactions such as telephone recharge, payment of utilities, extension of the Internet and others. Fans of purchases in online stores pay for purchased goods with credit cards or electronic money.
Acquiring is also considered the usual issue of money to a plastic card holder, for example, in the premises of any modern post office. Mostly this kind of issue takes place through an ATM located there or a specially prepared mobile POS terminal. All sorts of self-service gadgets for accepting bank cards are also credited to this area.
Mobile acquiring technology accepts payments for purchased goods or received services, using a bank card through a smartphone or a regular tablet, to which a mobile POS terminal is connected.
The presented technology was developed in the USA. The basis for it was the 2004 Square project, which meant improving the security of business operations and simplifying the process of conducting various calculations on mobile devices. A few years later, we also became users of all its advantages. However, Russia is paying more attention to security measures. Apparently, national characteristics are taken into account.
Banks are guided by the established rules of international payment systems MasterCard and VISA of payment transactions. The client’s desire to pay for a perfect purchase with a bank card leads to the fact that the acquirer bank sends a request to the appropriate international payment system, after which it sends an appeal to the issuing bank that issued it. Upon receipt of a satisfactory answer, the operation is considered completed, and the required amount is debited from the card.
There is no standard payment processing as such. In each country, it differs in some, sometimes very insignificant, nuances. An example is the Kazakh system and the Russian one. Banks do not coordinate certain operations with payment systems to simplify the interaction of processes in the processing of payments. However, the difference between the Kazakh market and the Russian one in its level of development.Having chop issue cards, it is almost completely protected from fraudulent activities. The low turnover on cards makes contesting ongoing transactions almost pointless.
POS terminal
The store is the main component of its acquiring activities. What is this device? What should it be? Who is the market leader in the production of terminals that accept bank cards?
Details about this device will be described below. In modern life, such information can be very useful. Especially for those who often make various acquisitions and would like to know more about the acquiring terminal (or POS terminal).
This acquiring device was created by a genius of engineering to scan the data contained on a plastic card, which is used by the buyer to pay for any kind of goods or services received. This process involves a contactless module, magnetic strip or chip. The data read in this way are transmitted instantly to an organization providing an acquiring service or an acquiring bank. The acquiring terminal is set up by a specialist.
During the transfer, the acquirer will receive identifying information about the buyer, which will confirm the user’s intention to pay the bill. In principle, this data is contained in the personal PIN code of his bank card, for the input of which the buyer uses the terminal keyboard.
When the acquiring bank completes the data processing, the acquiring terminal makes its decision to make a payment or refuse.
At the end, he can issue a printed receipt of the payment. The same result is displayed on the terminal screen or information is transferred to the cash register for printing on a receipt printer.
If you give mobile POS-terminals classification, then we can distinguish the following varieties that accept credit cards.
Offline devices
These are fully functioning devices with flawless performance of these functions. No computing module in the form of a computer, tablet or smartphone is connected to them. These autonomous devices are divided into a pair of subtypes, such as stationary and mobile. The first of them either do not have a battery, or they have, but are very weak and transmit the received data via wired Internet. The second, mobile, equipped with a powerful battery and transmit all data wireless channels.
Modular Binding Devices
The purpose of these devices is to implement a connection between a pin pad and a card reader, the main function of which is to read the card used and receive the pin code. Its contents are known only to the buyer. Bundles between computing modules such as a tablet, computer, or smartphone. They are designed to process payment data.
Vending devices for embedded terminals
A vending machine is responsible for automatic settlements with customers, and therefore such devices are built into it. If such a terminal is available at the time of purchase, it is an opportunity to carry out calculations both in cash through the banknote receiver, and by debiting the amount of money from a bank card.
Category of autonomous stationary POS-terminals
VeriFone Vx510, Ingenico iCT220, PAX S80, VeriFone Vx510 are the models of acquiring terminals of this category that have proven themselves the most positively in the field of cashless payments.
All listed devices are connected to the Internet, GSM, backup Dial-Up channel. Thanks to these channels, it is possible to exchange data with a bank card. Speaking of their “iron mincemeat,” he is impressive. For example, a built-in printer prints receipts on 58 mm wide paper at a speed of 18 lines per second. This is a standard paper tape for acquiring terminals on which checks are printed. A special reader has been introduced for chip and magnetic cards.The RAM, although small, is only 2 MB, but enough for this amount of processed information. Actually, like 4 MB flash memory. Built-in 128 x 64 pixel display transmits very high-quality images. And the eight-key programmable keyboard is very easy to use.
Outlets that have very high sales rates use acquiring terminals due to their unprecedented performance.
The multitasking operating system of such devices allows launching several applications simultaneously. Launched applications may not only apply to cash registers. Some are intended to pay for various services, such as replenishing the balance of a mobile phone with customer’s funds or transferring to another card.
Ingenico iCT220 Terminal
Also used to pay cashless by credit card. The device has capabilities that, in principle, should not be compared with the characteristics of the above examples. The most notable components of its hardware are the additional ARM 7 processor. A significantly increased RAM capacity of 16 megabytes and similarly flash memory. An integrated receipt printer prints 18 lines per second.
The advantages of the PAX S80 terminal are expressed by such competitive qualities as making contactless card payments. Equipped with a powerful ARM11 mini-processor. A significant amount of RAM is 64 megabytes and flash memory, reaching 128 megabytes. An integrated receipt printer prints 25 lines per second. This device downloads settings and applications remotely.
Detailed instructions for acquiring terminals are included in the package.
The considered models have passed appropriate certification for technical capabilities to conduct safe financial transactions with bank cards. Including encrypted transactions.
The category of mobile terminals for payment by bank cards includes portable acquiring terminals of such proven models as the Yarus M2100F, VeriFone Vx610, PAX S90, Ingenico iWL220.
The Russian-made Yarus M2100F device has some advantage, since it is capable of function both as a POS terminal and as a cash register machine, which, in turn, includes online cashier operation under the requirements of 54-F3. In its filling contains 16 megabytes of RAM and the same flash memory. Sometimes RAM reaches 32 MB. The main element is a powerful ARM9 processor. Externally, it presents a color display with 320 x 240 pixels of resolution and a monochrome display of 160 x 80 pixels of resolution. Supports contactless card payments. Supports Wi-Fi connection, 3G, data transfer via Bluetooth.
VeriFone Vx510 Terminal
The device from this Vx510 series, which was previously considered, almost repeats its main functions. The difference is in the powerful battery. Because of this, the versatility of its use is significantly increased, while in terms of performance it does not exceed the stationary model. Instructions for the acquiring terminal will tell more.
About PAX S90
We can say that its characteristics are quite similar to the S80 device. However, its superiority over the stationary model is in providing a powerful battery. Most wireless standards are available on this device to support the exchange of payment data. Acquiring a user card on this device is easy to implement and convenient.
Speaking about the above devices, it would be unfair to deprive the Ingenico IWL220 mobile terminal and its capabilities. Hardware performance is almost the same as its stationary version. However, it features a more powerful battery.
Remote keyboards or pin pads
If we consider this type of payment terminals, then the most popular models are the Yarus P2100, VeriFone Vx805, Ingenico iPP320, PAX SP30.
Each model can become a fully functional POS terminal if you install specialized software and connect it to one of the computing modules, which can be a tablet, smartphone, cash register, computer, or a standalone POS terminal.
The purpose of the remote keyboard The P2100 tier lies precisely in the joint use of cash registers with a variety of POS systems. If the merchant is already provided with cash infrastructure, this feature gives him the opportunity to acquire all the necessary hardware solutions for acquiring with minimal cost.
The Tier P2100 operation is controlled by the Linux operating system. Like other gadgets, it has a processor, or rather ARM 9. RAM - 16 megabytes and the same flash memory. Monochrome display with decent resolution - 160 x 80 pixels.
Function Pin-pad VeriFone Vx805 - to use the banking module to support payment by bank cards. It has a powerful ARM 11 processor. 32 megabytes of RAM and 128 megabytes of flash memory are more than enough. Computing modules are connected to it via Ethernet, USB, RS232 interfaces. During the process of processing payment information, the most demanding encryption standards are supported.
It is also convenient to make contactless payments with the Ingenico iPP 320 device. Its configuration consists of the main processor ARM 9, additional cryptoprocessor ARM 7. The amount of RAM in the module is 16 megabytes and 128 is the amount of flash memory. Communication ports - USB, RS 232, Ethernet.
It is worth paying attention to the PAX SP30 remote keyboard device with memory modules of similar parameters of the aforementioned device. The keyboard has six function keys, the communication ports are USB, RS 232.
All these pin-pads are certified and meet modern requirements for transaction security.
You can also consider the latest modifications of terminals for acquiring, the so-called MPOS devices. After 2010, they began to spread widely and have already proven themselves excellently. As expected, the championship thread in the Americans. This device was first used by Square.
Acquiring services are now enough in the post-Soviet space. They also engage in similar innovations, including Pay-Me, 2can and Yandex.Cash.
This latest high-tech device is an advanced version of the previously reviewed pin pads. In fact, we are talking about terminals of this kind, which is the founder of a separate group of cash equipment with unique qualities. Among them, the device is particularly compact, due to which it is inferior in size to a bank card several times. The computing module is connected to it very quickly and no more complicated than headphones to the tablet. It complies with all security standards in the same way as it is done by pin-pads and classic terminals, it has the ability to read cards and process payment data.
Which manufacturers of MPOS devices are the most famous on a global scale? These include Square, Sunyard, PayPal. These types of acquiring terminals are unique in their kind.
The MPOS terminal owes its existence to Robert Morley. A professor at the University of Washington, he was one of those partners who stood at the origins of the founding of Square. His contribution was the concepts that became the basis for the creation of such a terminal. Subsequently, they were finalized and improved by various innovations in technological options. Currently, the MPOS terminal market can focus on such categories of solutions as:
- Devices that can provide payments through bank cards, where there is a contactless module, chip or magnetic strip.
- Devices that connect to computing modules from Bluetooth, USB, audio jack.
As you know, not all interfaces are the same. There are specialized interfaces of this or that brand. Actually, 30pin from Apple.Therefore, the use of alternative methods.
Depending on the modification, some MPOS terminals may have differences in size, as well as in the placement of relatively different positions of the tablet case or smartphone.
One of the most significant implementations of this device is in its format, connect directly to the audio jack and very small dimensions. Or rather, does not exceed ¼ part of the size of a bank card.
Sometimes there are troubles in carrying out settlement operations, and the display gives error codes of acquiring terminals. Each code indicates a specific reason for the rejection of payment or transfer of funds.
The most branded terminal manufacturers, which we often use in order to make automatic payments with our credit card, are ViVOpay, Yarus and Vendotek. These terminals are typically embedded in the walls of buildings outside or inside.
The market is also full of many co-production products of different brands. A good example is the Yarus Vendotek T2100 terminal, which supports contactless payments. Using Ethernet, GPRS, 3G interfaces, it communicates with a bank host.
Among other things, this device in its equipment has a high-performance processor ARM 9. An impressive RAM module - from 16 to 64 megabytes. It has modules of more impressive flash memory, from 16 to 128 megabytes. The resolution of the color display is 240 x 320 in pixels.
Vending Accessories
Vending machines and terminals for them are provided with various technological accessories manufactured by ViVOpay. It is distinguished by its famous Vend III reader, capable of providing contactless transactions. Its equipment is a high-contrast convenient display. It has remote control and a very powerful processor. In addition, its RAM contains modules of large volumes.
POS-terminals in their options have one of the most popular vending machines function is the ability to remotely control. If it is necessary to carry out diagnostics or some settings, the owner of the business where the use of such devices is practiced will surely encounter inconveniences associated with periodic visits to the place where the device is located. The ability to solve such important tasks without any glitches and remotely by terminals for vending devices is their strong competitive advantage. Everyone who often uses them knows how acquiring terminals work.
