What features does a payment terminal application need to possess?

There are a lot of reasons why merchants use payment terminals in order to accept payments, mostly because they are convenient and affordable. All of them have the same purpose and functions but they can possess different features. Find out what they are in order to be able to choose the best option for your business.

Special attention should be paid to the features related to the following aspects: payment processing, loyalty programs, management of agreements, and more advanced matters. Let’s find out what these features are.

Payment processing-related features include the ability to handle ACH payments, magnetic stripe cards and manual card entry, contact and contactless EMV payments, gift cards, RFID cards and payments (e.g. Apple Pay, Google Wallet) and offline transactions.

Features concerning loyalty programs are the ability to handle non-payment magnetic cards (points, bonuses etc.) and the ability to use NFC enabled devices.

The next category comprises features concerning agreements management (typical for large-screen terminals). The aim of these features is to organize the interaction with customer through dialogs and forms. These features are customer dialogues, signature capture and custom forms.

There are two more groups of categories which you need to be aware of: features of stand alone offering and advanced payment terminal application features. The profound explanation of them can be found in a new article at Paylosophy blog.