Is The POS Terminal Reliable? Just Checking These 4 Points.

Due to the popularity of credit cards, mobile phone POS machines have gradually become a must, and there are endless products on the market. How do we judge which ones are really suitable for us when we choose? In fact, no matter which brand you choose, there are two points that cannot be ignored. One is whether the product can guarantee the safety of funds; the other is whether it is good for raising the card. The choice is based on these two points. Specifically, you can choose from following four aspects.

First, whether there is a formal payment license.

Only POS machines handled by payment companies that have issued a payment permit by the state are formal. Only payment companies with licenses issued by the state are eligible to acquire bills. After applying for licenses, payment companies must pay at least a certain amount of deposit to the state, and the funds are managed by a special national custody account, so as long as it is a POS run by a formal payment company it’s impossible for the machine to fail to account.

Second, whether it is a cleanup.

Basically, those with a license are all cleared. The so-called clearing is one clearing machine. The bank or third-party payment company directly settles the money to the bank card bound to the user. The second liquidation is the second liquidation. There is also an intermediate merchant between the end user and UnionPay. After UnionPay or a third-party payment company settles the money to the intermediate merchant, the intermediate merchant then pays the money to the end user's bank. It can be seen that the first clearing machine is the terminal user's bank card directly docking with the bank, and the funds are very safe; while the funds of the second clearing machine are transferred through intermediate merchants, and its security is relatively low.

Third, the rate issue

The rate is not as low as possible. When handling POS terminals, it is best not to be too cheap. Generally, the POS machine rates in the market are around 0.6. If it is lower than 0.5, you should pay attention to it. The rate is not what the agent says you can do if you make it low. You can also know whether the machine is a regular ticket code.

Fourth, the problem of merchants.

When we choose a machine, we must see whether the targeted merchant is a standard merchant. Many informal payment companies use coded machines, and they often encounter this situation now. The so-called code set machine means that you swipe your card from this POS machine for consumption. As a result, the MCC you see on the POS purchase order is completely inconsistent with the UnionPay transaction details or credit card bill. This type of set machine often hurts the card.

In need a quality POS terminal?

Since 2004 as a leading POS terminal manufacturer of China, Justtide has developed kinds of POS terminals, including traditional swiped card POS device, android all-in-one POS machines built in fingerprint and barcode scanner and smart handheld POS terminal with physical keyboard to meet all kind of customers from the industries of bank, telecom, lottery, retail, government, online ordering, etc. OEM & ODM, APP development and TMS software services are also supported. If you have any need for this, please kindly contact us immediately.