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Diagram showing different types of POS terminals used for card payments

Merchant & POS

What Is a POS (Point of Sale)?

Virtual or electronic authorization devices connected to a bank, used by merchants to accept card payments. The term comes from the English phrase Point of Sale. Covers POS types by communication method, their advantages, who can use one, and the transactions a POS can perform.

EMV chip card illustration

Online & Authorization

What is EMV?

EMV stands for Europay, Mastercard and Visa. In 1994 these companies formed a working group to set chip-card standards, leading to the EMV standards used worldwide today.