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what is A GAMBLING MERchANT ACCOUNT pos?

 POS is abbreviated as “Point of Sale”. POS is the platform used by businesses to take payments from a consumer and give them receipts for the payments made. Most of the POS systems are now computerised for convenience and accuracy.

Important parts of POS systems

If a trader wants to purchase a POS system it is essential to know the basic parts of a POS system before a purchase is made. POS systems can be bought as a bundle which includes the software too. The other option is to make purchases of the different parts and put the system together.

POS Computer – The most essential part of a POS system is the computer. Certain POS computers are similar to PCs and run of POS software that is loaded on the computer. A few POS computers have a software program and do not function like regular computers.

Cash Drawer – This is where all the money, card receipts, checks are kept. A cash drawer is plugged to a POS computer. It will open only when a proper signal is sent from the computer. Cash drawers protect against theft.

POS Monitor – The Pos monitor aids in view what is being fed / inputted into the computer. A number of POS monitors are enabled with touch screen which eliminates the need for keyboards.

Scanner – A scanner enables the scanning of barcodes present on the goods. Most of the scanners are hand-held, while a few others are imbedded into a POS device. Scanners are usually optional devices.

Receipt Printer – This device is plugged into a POS system so that the receipt for a consumer can easily be printed. Receipt printers are sometimes used for printing receipts that is signed by a consumer when payments are made through credit cards.

Optional POS Devices

There are many other POS system components that could be required depending on the type of business. These devices may be of no use to other business owners.

Signature capture device/ credit card terminal – If a business owner accepts credit cards, then there must be a way so that the credit cards can be read. POS systems may have a built-in option for reading credit cards. However if this feature is not present, then a card terminal will be required. A pin pad will also be required for consumers to enter PIN numbers.

Mouse and Keyboard – If the system does not have a touch screen, then a keyboard and mouse will be need for ent3ering information into the system.

Consumer Pole Display – This device is for consumers to see if their orders are being entered correctly. If the consumers cannot see the monitor, then investing in a consumer pole display should be considered. This device shows the consumer of what is being entered in the system. If the summery is shown on a pin pad, then this device may not be required.

When a new store is being built, then it is advisable to consider these basic components. It is best to build a POS system that is efficient and convenient. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.