Telephone POS Terminal

Telephone POS payment solution incorporates bank and telecommunication’s services to terminal users for easy-pay.  It offers comprehensive service for organizations seeking new and innovation ways to connect with people.  It maximizes merchant bank and telecommunication or some organizations profitability and providing unprecedented service and attention to detail in the products and services that we help them bring to market. It is also a perfect solution for to people to use it at home, or in office, retail store, restaurants and hotels etc. Instead of waiting in the bank or carrying cash, the terminals are used in "face-to-face" transactions. The cardholders will swipe their card through the terminal or key-in payment information and operate the user-friendly Keyboard, and the terminal will do the rest.

 

Telephone POS payment system:

Telephone POS payment system is combined with POS processing platform and payment terminal.  The POS processing platform encompasses a complete solution for credit/debit card transaction processing. The card programs acquire BINs(Bank Identification Number ) from the issuing Bank Partners required to effect the movement of transactions across the card association networks. The POS platform creates cardholder account numbers, produces plastics generation media, including magnetic/PSAM card PIN numbers and provides IVR (interactive voice responses) support for cardholder PIN management and inquiries. The platform also authorizes all POS terminal transactions presented by the card association networks, and effects end-of-day settlement with merchant banks causing funds movement between cardholder accounts and affected merchant accounts. Cardholder funds are maintained in a settlement account at the issuing bank.

Each system operator seeks to innovate in its market by providing bundled services for cardholders, such as long distance phone calls, wireless replenishment, healthcare services, payroll services, and so forth. As a result, proprietary closed-loop integration (APIs) is normally developed between POS and its system operators or their vendors. Due to POS' focus on stored value programs, it builds the required closed loop integration facilities for its customers and, once completed, the integration facilities effectively act as a barrier to entry for any competitor seeking to displace POS or its partners.

 

 

Data Processing

The credit, debit or magnetic card system operates in real time as a closed loop integrated network. Operations such as card activation, sales, transactions, voids&balance inquiries from the point of sale, are transmitted to the Data Center. The transaction request is fulfilled or authorized, data is captured in the merchant / client database and an approval or requested information is transmitted via the POS terminal.

POS terminal provides cardholders with a service that combines numerous applications into one POS platform system. This synergy has created a product that increases utility, customer retention and revenue per customer.