A payment terminal, also known as a TPE, is a device that reads bankcard details and accepts payments. Its purpose is to facilitate sales and make each payment transaction run more smoothly. There are many suppliers of payment terminals. Various models are available, including Smile and Pay, Yavin. Others include Zettle, Ingenico, Square...
The transaction is instantly recorded and transmitted to the customer's bank via the Eftpos terminal. This is known as the telecollection function.
The TPE is connected to the bank for payment authorization requests via three channels. There is the Internet connection (wired or wireless), 3G/GPRS and the telephone line. This last option is used when the Internet is inaccessible. The choice of your payment terminal can be made during the process of setting up your company, to ensure proper programming of your accounting management.
Some Eftpos terminals offer additional functions. Depending on the device you choose, you can take advantage of additional services such as the acceptance of international payment methods. Other types of Eftpos terminals allow you to offer payment on credit or loyalty offers. Online payment terminals are also synonymous with convenience for merchants. Square Reader and Smile and Pay, Ingenico are leaders in the field of Eftpos terminals.
What are the different types of payment terminal?
Before buying your payment terminal, it's important to know the different types and their specific features.
The fixed payment terminal
The fixed payment terminal is placed directly on a counter, usually near the cash register. This type of Eftpos terminal requiressubscription to an IP monetary gateway, which ensures the security of each payment. It is ideal for retailers who collect small amounts during the course of a sale. Zettle and Sumup offer POS terminals of this type.
The Pinpad payment terminal is also a fixed device with an extension keyboard. It is equipped with a credit card reader for payment. This terminal offers excellent security for both customers and merchants.
The autonomous mobile payment terminal
This payment terminal is ideal for retailers on the move (markets, fairs, door-to-door sales). The mobile aspect of this POS terminal lies in its connection to a smartphone. It's a payment terminal that works with a pre-installed application. The Zettle application is a perfect example. It turns your smartphone into a complete cash register.
Yavin offers this type of POS terminal. You can also find them at Smile and Pay, Ingenico... The TPE Sumup 3G is a small stand-alone reader. It's a mobile POS model manufactured by Sumup.
Particularly interesting for itinerant retailers, the mobile payment terminal enables you to cash in anywhere, as long as mobile operator coverage permits. You can use this terminal 24/7, thanks to its charging stand.
The virtual payment terminal and TPE santé vitale
With the virtual payment terminal, your screen becomes a bank card reader via a web interface. The supplier of the virtual payment terminal gives you the possibility of cashing up on the web using the same software. This makes it easy to manage both physical and online sales. Sumup is one of the leading providers of virtual payment terminals.
The Santé Vitale payment terminal is designed for healthcare professionals. It can be used to read health cards and pay by credit card.
There is a category of payment terminals with an integrated printer. Its role is to print the receipt for each transaction. There are also so-called intelligent payment terminals. A distinction is made between myPOS mobile terminals and those offered by fintechs. Smile and Pay also offers the Smart Smile, a modern payment terminal.
What are the criteria for choosing the best terminal for your business?
The best payment terminal is the one adapted to your professional sales activity. It must also secure your customers' data. Your payment terminal budget may also be a factor in your choice.
The right payment terminal for your professional sales activity
The work environment and equipment vary depending on the business. For example, a self-employed entrepreneur may use a payment terminal that sends notes to customers by SMS or e-mail. A restaurant owner might opt for a mobile payment terminal. This enables credit card payments to be made directly at the customer's table.
Merchants generally use contactless terminals such as Sumup solo and Zettle, which allow bankcards to be inserted into a machine for rapid payment. Payment can also be made by smartphone, tablet, connected watch, etc. The TPE can enable merchants to directly fund their partners' current account, enabling reinvestment of the money generated by these payments.
The secure payment terminal
Merchants need to prevent their customers' data from being hacked when making payments. To do this, they need to equip themselves with secure equipment. During a bank payment, a great deal of information passes between the POS terminal and the customer's bank. Malicious parties may try to hack into the company's connection to retrieve confidential customer information and access their bank account.
To protect customer data, the terminal can encrypt the information transmitted during payment by credit card. This makes customer data unusable in the event of hacking.
The right payment terminal for your budget
Merchants need to consider their budget when choosing the right payment terminal model. POS terminal prices vary according to capacity and functionality. The least expensive payment terminal is the Mini Smile, a competitor to the Sumup Air and Zettle Reader.
Written by our expert Editorial staff
March 23, 2023
