What is mPOS Machine?
mPOS (Mobile POS) refers to a mobile point of sale system which is the combination of software and hardware. This is an electronic device used by merchants for a transaction in daily business life. Now a day’s mPOS machine is going to be the key element in businesses just because of its cashless transaction function. Basically, it is used in retail shops where customer likes to perform transactions through Credit or Debit card. This is basically used in a retail shop, grocery, food, and beverage industry.
I think till now you have understood for what machine talking about. Even if you have doubt I give an example which helps you to understand this clearly. Have you ever go to malls for shopping, or MacDonald’s for food, whenever you don’t have cash money, what you do? You preferred your credit or debit card for payment. Am I Right?
And the shopkeeper or seller swipes your card through a small machine and you enter your pin code for complete payment. I am definitely sure most of you experienced this, That small machine is known as mPOS machine and this whole process is known as a mPOS payment system.
So now you are very familiar with mPOS machine, But ever you think how this mPOS machine works, how our payment process?
Is this question in your mind now?
Yes sure, Don’t be worry, now we will discuss this topic, so keep tuning with us till the end for more informative knowledge.
How Does mPOS Machine Work?
We all used mPOS machine in grocery shop and malls for payment. But we never think how this mPOS machine works? How our payment settled? Without wasting time I come to the point after all how this works. As we know mPOS machine is the combination of software and hardware and its software part is integrated with the seller’s bank account. The hardware part of mPOS machine consists of a card reader chip. Now we come to the process.
At first merchant or seller swipe credit or debit card of the buyer through this machine.Then mPOS machine which works as a card reader and read the barcode of credit or debit card. After confirming buyer input the pin code as password.Then this input data sent to the central regulatory account.After confirming all the input details from central regulatory, amount transfer to sellers account and receipt generate. Here process complete and you got the receipt of your payment, now you can get your goods and services.
So now you understand how our payment settled through mPOS machine. This is the safe, secure and cashless transaction process which is trending in business now a day’s.
Learn More: Best mPOS Machine Near Me
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