Does terminal mean credit card?
Does terminal mean credit card? A payment terminal, also known as a point of sale (POS) terminal, credit card machine, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for Process Data Quickly), is a device which interfaces with payment cards to make electronic funds transfers.
What is a terminal on a debit card?
The terminal allows the merchant or their client to swipe, insert or hold a card near the device to capture the information. They are often connected to point of sale systems so that payment amounts and confirmation of payment can be transferred automatically to the merchant's retail management system.
Why does the transaction terminal ask credit or debit?
When store clerks ask you credit or debit, they're really referring to which network your transaction will run through and what documentation will be requested to prove you have the right to use that card.