What features does a payment terminal application need to possess?

Payment terminals are used by businesses to accept card payments all around the globe. All of them have the same purpose and functions but they can possess different features. How to choose a payment terminal application which will meet your specific needs?

The features which you should take into account are 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 presuppose the ability to handle non-payment magnetic cards (points, bonuses etc.) and the ability to use NFC enabled devices.

The next category is 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. If you want to know what they are you can refer to the article at Paylosophy blog.