Expert Eye

Timeline

1950 The first ever paper payment card was created in America by Diners Club followed by American Express in 1958. 1958 Bank of America released the first bank card which allowed consumers to carry their balance over for a fee. 1959 American Express launched the first ever plastic card. 1960 The Manual Card Imprinter was born, which copied the embossed cardholders name and identification number as proof of purchase

1973 Saw the introduction of electronic authorisation, merchants had to make a phone call to seek approval for the transaction. 1979 Barclaycard launched the first UK debit card and Visa introduced the first electronic card machine. 1987 Creation of the computer chip smart card, deployed across France in 1988, which saw significant benefits in the reduction of fraud. 2000 The Early 2000s saw the innovation and development in WIFI technology leading to Wireless/Mobile terminals.

2004 Chip and Pin were introduced in the UK and became mandatory in 2006. 2007 Contactless payments introduced into the UK by Barclaycard.

2010 Onwards

Saw the invention of eWallets such as Android Pay (2011) and Apple Pay (2014) and the creation of the smart payment terminal.

About Us and The Smart Terminal

HAL:PAYMENTS are a team of payment experts offering advice and consultancy services to help merchants drive down costs and optimise payment technology. Here they share their views on the rise of the Smart Payment Terminal.

The modern-day lifestyle demands speed and efficiency, and the payment industry has most certainly evolved to meet those demands. From the first inception of the payment card in the 1950’s to the myriad of payment options now available to consumers. As competition gains pace in this industry, so does the technology that sits alongside it, the payment terminal is no longer just a device to process your customer transactions, it now boasts to offer a far wider selection of services claiming enhanced ease and efficiency for the merchant. The new generation of Smart Payment Terminals (SaaS Terminals) have evolved to provide not only a payment processing functionality, but allowing the integration of applications designed to help improve business efficiencies, such as inventory management, appointment booking and accountancy services, all centralised within the Smart Terminal. Arguably one of the unique selling points of the Smart Terminal includes the ability to integrate different functions, evolving it into a multi-functional asset for your business. The majority of Smart Terminals utilise cloud storage, which is known to be more secure, and under increasingly strict GDPR and PCI DSS governance is a major USP for the modern-day business.

Benefits of Smart Terminals

1. Some models allow you to text or email receipts, thus saving on costs for paper rolls and the need to secure merchant paper copy receipts. 2. Increased hygiene - perhaps a must in this day and age.

With touch screen displays the Smart Terminal is easier to clean with just a simple wipe across the display screen. 3. Visually, Smart Terminals definitely have the edge, sleek and modern akin to the look of the ‘Smartphone’. 4. Ability to download a ‘Virtual

Terminal’, thus making the device suitable for mail order transactions. 5. Access to the providers appmarket place with 100’s of available downloads. 6. Typically cloud based, it allows the terminal supplier to remotely update the terminal with the most up-todate technology. 7. Requires much less in-person maintenance, reducing labour and call out costs.

_ For more on HAL:PAYMENTS Consultancy please visit www.halpaymentsconsultancy.com