We all used mPOS machine in grocery shop and malls for payment. But we never think how this mPOS machine works? How our payment settled? Without wasting time I come to the point after all how this works. As we know mPOS machine is the combination of software and hardware and its software part is integrated with the seller’s bank account. The hardware part of the mPOS machine consists of a card reader chip. Now we come to the process.
- At first merchant or seller swipe credit or debit card of the buyer through this machine.
- Then mPOS machine which works as a card reader and read the barcode of credit or debit card.
- After confirming buyer input the pin code as password.
- Then this input data sends to central regulatory account.
- After confirming all the input details form central regulatory, amount transfer to sellers account and receipt generate .
- Here process complete and you got the receipt of you payment, now you can get your goods and services.
So now you understand how our payment settled through mPOS machine. This is the safe, secure and cashless transaction process which is trending in business now a day’s.
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