Mobile terminal

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A mobile terminal is a portable electronic device that allows businesses and entrepreneurs to accept payments from customers using bank cards anywhere with access to a mobile network. These devices are designed to operate outside of physical stores and offices, making them especially convenient for mobile entrepreneurs and outdoor events.

Operating principle of the mobile terminal:

The mobile terminal is equipped with wireless communication and can connect to a mobile network such as 3G, 4G or Wi-Fi to transmit data.
The merchant enters the payment amount information on slovenia email list the mobile terminal. This can be done using the touch screen or keyboard on the device.
The customer provides their bank card to the merchant. The merchant uses a mobile terminal to read the data from the magnetic strip of the card or read the information from the microchip if the card is equipped with a chip. There are also contactless payment methods, where the card is simply brought closer to the terminal to be read via NFC.
The card data is sent for authorization. The mobile terminal contacts the bank that issued the customer's card to check for sufficient funds and other factors that may affect authorization. If the payment is approved, the merchant and customer receive a notification of a successful transaction.
The seller issues the customer a receipt or check confirming the payment. This is important for accounting of purchases and returns.
The transaction is completed and the money is transferred from the customer's bank card to the merchant's account. This process usually occurs at a banking institution or payment processor.
To ensure security and compliance, payment data is typically encrypted and protected during transaction and storage.