How to Use POS To Make Payments – P.O.S Machine
So many people are oblivious of the usage of POS and how it works or operate. It is no longer news that the Central Bank of Nigeria (CBN) has introduced the cashless policy system in the country.
With POS, payments are usually done with ease without carrying large amount of money anywhere you go. Before we continue with this article on how to use POS to make payment, we need to define and understand the meaning of POS machine.
HOW TO START A FREE MULTIPLICATION GAME
What Really is a POS Machine ?
POS is simply the acronym for Point of Sale machine. It sounds right? The POS machine is a system that allows a buyer to make a cashless payment with his debit card. This device is only accepts payment to the account registered in it, making it very different from an ATM machine.
HOW TO CHECK ECOBANK ACCOUNT BALANCE ON YOUR MOBILE
Is Making Payment Via POS Safe?
This is one question that should come to the mind when dealing with such a transaction that involves money. The transactions on POS are 100% safe, because they are handled by Interswitch.
Debit Cards Are Eligible for This Kinds of Transactions
All debit card activated to carryout online transactions are eligible for this type of transactions.
HOW TO CHECK YOUR BANK VERIFICATION NUMBER WITH YOUR MOBILE PHONE
Working Principles of a POS Machine
The POS machine like the Automated Teller Machine (ATM), has its working principles. With the POS payments can be made easily by buyer to the sellers account. The following steps are procedures to follow to use the POS machine for payments;
- After the calculating the amount of sold items the buyer hands over his/her debit card to the seller
- The seller inserts the debit card in the POS and type the calculated amount of the purchase made.
- The buyer the checks the amount and makes sure its the same, before secretly entering his pin.
- On successful completion of the transaction, the buyer will have his/her account debited with the purchased amount, and the seller in return will have his/her account credited with the amount.
- Two transaction receipts will be printed out, one for the buyer and the other for the seller.
Hope this tutorial on how to make payments on POS has really explained what you need to know about making payments on POS.
The post How to Use POS To Make Payments – P.O.S Machine appeared first on TrendyUpdates.