A POS system is a combination of software and hardware that allows businesses to make transactions and simplifies key day-to-day business operations.
It typically includes features for processing sales transactions, managing inventory, and handling customer data. In modern setups, POS systems can be entirely digital, running on tablets or other mobile devices, and integrating directly with other business management tools.
Used in retail stores, restaurants, and other businesses where customers physically purchase products or services.
Payment gateways are e-commerce services that process credit card payments for online and traditional brick-and-mortar stores.
They ensure the secure transfer of payment information from the customer to the acquiring bank.
Payment gateways are essential for handling online transactions and are integrated into websites through e-commerce platforms or custom-built websites.
Utilized by e-commerce sites, online service providers, and any business that requires processing payments online.
EMV is a global standard for credit and debit payment cards based on chip card technology. Cards equipped with EMV technology contain a microprocessor chip that securely stores data and performs cryptographic processing during a payment transaction. Unlike magnetic stripe cards, EMV chip cards generate a unique transaction code for each transaction, making it much harder to fraudulently copy or counterfeit.
The adoption of EMV technology significantly enhances the security of card-present transactions and supports additional authentication methods, including PIN (Personal Identification Number) and contactless payments.
EMV technology is used primarily in physical stores where customers use chip-enabled cards to make secure payments. It is also the basis for secure contactless card transactions that use NFC (Near Field Communication) technology, as well as for certain types of mobile payments.
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