Features
Features vary by application, but include:
- Instant completion of key data in the POS order form (application) through attached card swipe device (hardware is purchased directly by merchant) including customer and credit card information
- Integrated transaction management capability, enabling the merchant to execute refunds, voids, re-authorizations (i.e. re-authorize an existing transaction for a higher or lower amount without the need to re-enter the credit card number), recurring payments and settlements
- Multiple settlement options (automatic, manual and semi-automatic)
- Access to comprehensive reporting tools for reconciliation and data mining purposes
- Wide range of additional benefits depending upon chosen POS application
Benefits
Features vary by application, but include:
- Signature-based transactions typically qualify for a reduced discount rate from the acquiring bank, reducing overall costs
- Increased customer convenience through faster customer checkout
- Simplified reconciliation of bank deposits
- Fast resolution of customer inquiries regarding payments
Uses
Features vary by application, but include:
- Used in any business where the customer is present with their credit card to make the purchase
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