PCI and skimming at POS terminals
Whether online, mobile or at the point of sale, security is and remains one of the most important factors in the payment process.
Point of sale, or POS, refers to the physical place where a transaction is completed. In the payment industry, the POS is the location of the terminal. The latter being the electronic device used to settle in credit and debit card payments in the stationary business.
What is the advantage of POS payments?
POS devices are widely available to allow customers to use their card in most brick and mortar stores. In terms of security, card payments are safer than cash. A stolen credit card can be reported, and therefore block any transaction, whereas stolen money is unlikely to be returned.
Fees of a POS payment
For the customer, POS payments are generally free of costs. The exception is card payments abroad, which might incur foreign service fees. The seller, however, must pay a fee for each transaction.
