Lingo To Know When Looking For A POS System

There are several abbreviations used in marketing, but none are as important as the point of sale, or POS for short. For retailers, POS refers to the moment a customer completes a transaction. By comb

credit card reader and barcode scanner, this process has become faster and more sophisticated than ever before. Today, a point of sale system can be customized to a retailer’s specific needs with integrated tools and features.

Before you decide on a POS for your business, here’s a few pointers on words you need to know:Merchant Account A merchant account allows a business to accept debit and credit card payments with the assistance of a third-party processor. The processor is sometimes called an acceptor.

Without a merchant account, most businesses wouldn’t be able to grow, and online businesses wouldn’t exist. These essential accounts make it possible to process and manage different types of payments; but this service doesn’t come without a price. The company providing the service determines fees and rates.PCI DSS Compliance PCI DSS stands for Payment Card Industry Data Security Standard. This abbreviation sets the standard for payment security.

When a payment solution is PCI compliant, it means that there are built-in features to ensure data is properly encrypted and secured. Whether you’re buying payment terminals, or a merchant theme for an e-commerce site, always look for this abbreviation to ensure your business is operating within standard security regulations.Wireless vs. Mobile

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