Introduction to POS terminal

We use the card of Bank of China to withdraw money from the machine of ICBC, that is, the systems of ICBC and Bank of China transfer data through the system platform provided by UnionPay to complete the transaction. POS machines are also connected through UnionPay between the customer's card issuing bank and the merchant's settlement bank.

The settlement bank is the most important. It provides a system to complete the transaction and is responsible for transferring the funds generated by swiping the card to the account opening account of the merchant. Therefore, the merchant should be charged. This is the origin of the handling fee. In fact, there is no unified standard for handling charges. If you can negotiate a satisfactory price with this bank, you can designate it as the settlement bank. Often, the bank even provides you with the POS machine. It is only a hardware carrier of information, and UnionPay is only an information transmission platform. Only the bank has the right to send transaction instructions and transfer funds.

The POS machine must be connected to the UnionPay network to trade. Different connection methods generate different types of POS. This can be interpreted as making a phone call. POS with telephone lines is the most common, just like Telecom; Mobile POS is used in mobile GPRS network, just like mobile phone can be carried with you. Even the computer is called mispos. It is convenient for large-scale merchants to adopt unified management for many POS, which is not used by ordinary merchants. The expenses incurred in this way are the communication expenses. The merchants pay to telecom mobile, which has nothing to do with bank UnionPay.

UnionPay has a subsidiary called UnionPay commerce, which is responsible for providing and installing POS machines and maintaining the hardware of the machines. We can apply to it for the installation of the machine, and the future maintenance will not cost money except for human damage.