Terminal for payment by bank cards for a store

[Father]

With the advent of plastic payment cards, the turnover of cash not only in Russia, but all over the world began to decline sharply. Now buyers prefer to pay by non-cash method. For this reason, it would be quite reasonable for shop owners to decide to install a card terminal.

In the event that the revenue of your store is at least 60 million rubles per year, this condition is mandatory. Failure to comply will result in a fine for the store owner.

POS terminal: what it is and how it works​

A POS terminal (abbreviated from the English point of sale - point of sale ) is equipment with the help of which funds are debited from the buyer's account in favor of the seller. The device communicates with the buyer's card issuing bank, approving or prohibiting withdrawals.

If the store has several cash registers, then the terminals can correspond to their number. At the same time, the equipment itself can be both stationary and mobile (for example, for waiters, couriers, etc.). Communication is established via the Internet.

Purchase, installation, setup​

In order to equip your company with a card terminal, you need to go to the bank and conclude an acquiring agreement, after which an additional current account will be opened for the organization , which will receive funds received through the terminal.

The purchase and installation of terminal equipment requires the provision of the following documents for individuals:

• passport and its photocopy
• notification received at the statistics office
• EGRIP extract, valid at the time of submission of documents (within 1 month)
• certified (with a blue seal and signature) copy of the certificate of registration of an individual entrepreneur and TIN
• a certified copy of the license to carry out trading activities (if the category of goods is included in the list that is mandatory for licensing)
• information on r / s

For legal entities:

• extract from the Unified State Register of Legal Entities, valid at the time of submission of documents
• notification from the statistics office
• certified copies of the following documents: the charter of the enterprise, the director's passport and the order for its approval, the certificate of registration of a legal entity and that its activities are subject to taxation, information on the bank account

The equipment can be rented from the same bank, while the conditions for its acquisition and operation will be spelled out in the contract. You can also buy a terminal, which will be reflected in the accounting reports on expenses. The setup and maintenance of the equipment will be handled by the organization that issued it.

Benefits of using the terminal​

The acquiring service (accepting payment for goods by credit card) is a great advantage over those stores that do not have such a function:

• attracting more buyers
• increase in sales
• the ability to avoid the criminal actions of counterfeiters
• the cashier does not need to look for change money in order to give change
• simplified work with the cash desk (recalculation of cash, elimination of shortages, etc.)
• savings on the services of collectors

Imagine a situation when a customer is ready to make a large purchase, but you do not have terminal equipment. What are the chances that he will not change his mind on the way to the ATM and back?

How much does a payment terminal cost​

Usually, the point about renting terminal equipment from a bank does not incur additional costs, since they are already included in the commission fee. However, in the case when the monthly turnover of non-cash money does not exceed a certain limit (for each bank it is individual), then the use of the terminal can cost the entrepreneur in the amount of 500 rubles. up to 3 thousand rubles per month .

Where are the best acquiring conditions?​

There are several factors that can influence the decision when choosing an acquirer:

• Commission. It looks like a deduction to the bank. The percentage charged for the service is different for each financial institution. In addition, always pay attention to the "small print" - the contract may state that the size of the commission fee may increase
• Working with different types of cards. The cooperation of the bank with various payment systems (Visa, MasterCard, etc.) is of great importance. Of course, it's better to use the multifunctional option.
• The timing of the operation. The average duration is one to three days. But there are also banks that make payments within a week.

One of the most important points is the level of service. This includes:

• training of personnel to work on terminal equipment (not only directly with the device, but also reporting, etc.)
• a bonus system that works for the buyer in the event that he purchases goods in a particular store, which is an additional reason to attract customers
• information control, which involves the provision by the bank of statements of operations performed, reporting of system failures, possible episodes of fraud, etc.
• maintenance is perhaps the main service that is provided to the store in the event of equipment breakdown (it is desirable that this be done around the clock and on demand)

The principle of operation of POS equipment​

1. insert the card into the terminal (if there is no chip, then you need to swipe it with a magnetic stripe in a special compartment, or simply attach plastic to the screen if the card has the ability to contactless payments)
2. enter the required amount, approve
3. upon request, the buyer enters a PIN, approves
4. the terminal issues the result of the actions performed (approved, insufficient funds, etc.) and prints two checks: for the client and for the bank. If the operation was successful without entering the PIN, then the client must sign on the bank check

The terms for debiting and receiving funds can vary from three days, depending on the servicing banks. In the event that the seller has evidence that the buyer is not the owner of the card, then he has the right to seize the payment instrument and call law enforcement agencies to clarify the circumstances.