A store selling goods can install a payment terminal to allow its customers to pay their bills by bank card. How to go about installing a TPE in your supermarket?
Summary
Types of payment terminals
The preliminary stage is the choice of the type of payment terminal likely to give you satisfaction for the reliability and security of payment transactions. There are four on the market.
Fixed TPEs
They are stabilized on the counters and process bank card data using an Internet connection.
Portable type TPEs
They use Wi-Fi and Bluetooth for operations. These payment terminals are practical, in the event that the cashier has to travel outside the store to receive payment by credit card.
Autonomous VSEs
They are very practical for itinerant trade, such as that of representatives, carriers or delivery people. They work through a 3G Sim card or a GPRS connection, like a phone device.
So-called smart TPEs
These are very popular card readers. They are equipped with a set of features that allow them to facilitate operations with safety and speed.
How it works ?
A payment terminal has three main functions, which have made it a tool that is increasingly used in commerce and financial transactions. The transaction takes place in five stages.
Receipt of payment from the customer
The cashier records the amount of the purchases in the device, and the customer inserts his bank card into the terminal. The types of software integrated into the terminal determine the type of bank cards accepted by the TPE. It is advisable to install a payment terminal equipped with the EMV system. This acronym designates the “Europay Mastercard Visa”, which authorizes transactions with all bank cards used in Europe.
Verification of the transaction
Thanks to its connection mode, the terminal connects to the bank’s server to check the provision in the customer’s account. The bank’s terminal returns a message (« authorization in progress »), which confirms that the bank is checking several parameters related to the transaction.
The authorization request is mandatory when your shop is subject to a threshold amount (generally less than or equal to 100 euros) of transaction by the bank or when your customer is the holder of a foreign bank card.
Read also: how to choose the right mobile payment terminal
The integration of the transaction in your TPE
After validation of the transaction, the amount paid is available in the terminal. It joins all the operations carried out during the day. The stock of the transactions will be transferred to the account of the business at the end of the day, thanks to an electronic system.
Electronic transfer of transactions
The transfer of bank card transactions is done electronically using a secure IP address or by 3G Sim card, from the terminal to the bank’s server. This is what is called the “payment gateway”. This « payment gateway » must be equipped with all the security guarantees for the protection of transactions.
The frequency and times of electronic fund transfers are set by mutual agreement between the bank and the merchant.
The availability of funds
The bank’s server feeds the trade account, after validation of the operations of the monetary gateway. It is the end of an operation on a payment terminal, an instrument that facilitates salesperson/customer relations.
How to install a payment terminal for your supermarket?
You have the choice between renting a TPE from your banker, buying a terminal according to the brands and versions available on the market or buying an electronic payment device offered by certain banks.
Know first that the signing of a direct debit contract is mandatory between your business and your banker! This is necessary for the payment gateway (transfer of transactions from the TPE to the bank server) and authorizations.
The option of installing a payment terminal rented from your bank
Your banker will provide you with a code in the direct debit contract. This code contains the configuration parameters of your payment terminal. This option can be accompanied by a commission that the bank will take on each transaction.
The option of installing a purchased TPE
The bank domiciliation contract and the monetary gateway configuration code are required for the installation of a TPE acquired on the market. In this sense, electronic payment equipment manufacturers offer various brands and versions.
Types of TPE installations
TPE on telephone line
Your TPE will be connected to your PSTN telephone line for a fixed TPE or to your 3G Sim for a portable TPE.
TPE on GPRS
More practical, it is operational after configuration with the code communicated by the bank. For TPE brands, many offers are available online.
