How Do Payment Systems Work?

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The payment gateway is what enables a merchant to accept payments via credit card, whether that’s online or physically. They are comprised of the physical card-reading systems and payment terminals plus the transaction payment processing portals. You’ve likely noticed that most restaurants have also adopted payment services like Google Pay and Apple Pay, courtesy of Near Field Communication technology, better known by its NFC acronym.

It’s worth noting that payment gateways differ from payment processors. The former is responsible for approving or declining a transaction between a customer and merchant while the latter is the transaction facilitator.

The gateway operates by encrypting sensitive information and transferring it securely between the merchant and customer. The information for the transaction is sent to the corresponding bank and it also figures out which major provider issued the customer’s card (i.e.: Mastercard, Visa). All of this information plus the amount of the transaction is sent via a payment switch. The bank will run fraud detection to ensure the legitimacy of the transaction and to determine whether the transaction can be approved.

With its EMV enabled mobile terminals, On the Fly POS is ready to handle your payment needs.

This update is by On The Fly POS, a restaurant point of sale app focused on a simple to use, yet highly effective digital tablet menu system. Our system can replace paper menus using a modern solution available in multiple languages that integrates seamlessly with modern POS systems. Features include table ordering and payment, a user-friendly backend, email or printed receipts, and menu integration complete with high-quality photos and video. For more information or to schedule a demonstration, visit our website or email info@ontheflypos.com.

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On The Fly POS is the easiest way to serve up a unique digital tablet menu for your restaurant including all benefits you get from Restaurant Software POS Sector for Bars & Restaurants.

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