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Dynamicod named Top 15 POS manufacturer
Smart Drinks Vending Solution by Dynamicode Co. Ltd
Traditional EFT POS can also scan QR code to collect money?
DynamiPOS® P62, a new full-payment POS recently launched by DynamiPOS, is one of the highlights of this product, which allows the expansion of traditional POS to realize the function of scanning code payment, and is more environmentally friendly, using paperless electronic signature technology , the printer is no longer required.
The development of traditional POS machines has benefited from the popularity of credit cards and bank cards. The deployment of POS machines by merchants is equivalent to acquiring customers who often use credit cards and bank cards. Nowadays, even in the era of mobile payment, there are still many POS machines on the cash register of merchants. For merchants, traditional POS is something they cannot give up.
Based on the needs of merchants, DynamiPOS® P62 equipped with a high-performance security processor not only supports magnetic stripe card, IC card, contactless card payment, but also supports QR code payment function, which can satisfy all kinds of consumers' payment in one stop need. Merchants will neither worry about losing the traditional payment terminal of POS, nor worry about too many payment terminals at the cash register.
A full-featured mobile payment product also creates favorable conditions for merchants to stimulate consumer consumption and increase store turnover.
PCI SSC Publishes New Standard for Mobile Payment Solutions
PCI Security Standards Council (PCI SSC) published a new standard designed to support the evolution of mobile payment acceptance solutions on Nov.16, 2022.
PCI Mobile Payments on COTS (MPoC) builds on the existing PCI Software-based PIN Entry on COTS (SPoC) and PCI Contactless Payments on COTS (CPoC) Standards, which individually address security requirements for solutions that enable merchants to accept cardholder PINs or contactless payments using a smartphone or other commercial off-the-shelf (COTS) mobile device. The PCI MPoC Standard aims to provide increased flexibility not only in how payments are accepted, but in how COTS-based payment acceptance solutions can be developed, deployed, and maintained.
PCI MPoC is a new, flexible mobile standard and program for payment solution development. It provides a modular, objective-based, security standard that supports various types of payment acceptance channels and consumer verification methods on COTS devices. PCI MPoC combines many of the aspects of the existing PCI SPoC and PCI CPoC standards, primarily by including the entry of both PIN and contactless cardholder data on the same COTS device.
What is the benifit to use a POS terminal ?
1. Cashless transactions are a global trend. For cardholders, paying by swiping a card is not only convenient to carry, but the points accumulated by swiping the card can also be redeemed for rewards, increasing the sense of belonging. If you use a credit card to pay, you can spend first and then pay back.
2. After installing the POS terminal, the cash management risk of merchants is greatly reduced, and the workload of manual cash collection, counting, change, prevention of counterfeit bills, and cash storage is reduced, and the use of credit card payment is more hygienic and more environmentally friendly .
3. The POS machine can reduce the transaction cost at the counter, alleviate the suffering of customers in queuing and reduce the risk of customers' cash being robbed or stolen, avoid the embarrassment of service termination, break through time and space restrictions and collect money in different places. It can ensure that the transaction funds of enterprises and merchants can reach the account safely and quickly, thereby accelerating the return of funds.
4. The cost of POS machine is low, and it can reduce the loss caused by collecting counterfeit banknotes and failed checks.
5. Quick and correct collection. Subtract the trouble of manually opening a receipt every time you receive a sum of money, improve the cash register speed, and reduce the time for a single transaction to improve your operating efficiency.
6. Accurate checkout, prevent employee corruption and fraud, so that you do not lose money or goods; correct use of POS machines can strictly control the cash, goods, etc. in and out of your store, and eliminate your employees. Make false accounts during daily sales and inventory checks to protect your interests.
7. It is convenient for performance statistics and serves for management. The POS cash register system adopted by some financial institutions also integrates the function of the report center. Various types of reports can directly provide the decision-making basis for the franchisee owners, so as to make corresponding decisions for your next purchase and sales situation and store management in advance. s plan.
8. The use of POS machines to swipe cards for consumption breaks away from the traditional transaction category and dilutes the concept of consumers "spending money". Swiping card consumption can increase consumers' consumption impulse, which is of great benefit to increasing the business's turnover.
9. Adopt non-cash payment tools, which can be accurately measured and transferred in a timely manner as small as a cent, which fundamentally solves the problem of zero bills.
Dynamicode Co., Ltd provides a wealth of POS terminal products, and can customize Classic POS terminals, smart POS terminals, QR code-based payment devices and smart self-service devices according to customer needs.
Benefits of going cashless
1. Cashless transactions effectively reduce the manpower needed to handle cash in business, including the cost and resources of making, transporting, and detecting cash banknotes or coins;
2. A cashless society will also reduce the spread of diseases. Cash banknotes are the medium for the transmission of many microorganisms and bacteria;
3. Cashless transactions will eliminate crimes against cash, such as robbery;
4. "Cashless society" eliminates counterfeit money
5. A cashless society can effectively improve the transparency of financial transactions and curb the possible illegal and criminal activities caused by the use of cash. Europol believes that large amounts of cash are closely related to crimes such as money laundering and terrorist activities.
6. Improve the effectiveness of the central bank's monetary policy. For example, according to relevant data, since 2015, the currency in circulation in Nigeria has more than doubled, but 84% of the currency is free from the banking system. This trend can easily lead to monetary policy failure. After de-cashization, cash in circulation will be converted into bank deposits, and the central bank can better regulate liquidity and credit through interest rate policies; at the same time, the increase in money supply is conducive to the decline in market interest rates and credit expansion, and promotes economic development.
7. Promote inclusive finance: popularizing cashless transactions will increase government revenue due to reduced criminal activities and tax evasion, and the government can use part of the revenue to subsidize the poor so that they can enter the banking system; or provide subsidies to banks so that Banks try to bring the poor into the banking system.
Cat1 （CAT-M1, LTE-M）Applications
Cat1 is ideal for high-mobility assets (such as cars) as an LTE connection because it manages cell tower handoffs as well as high-speed LTE) and is comparable to a typical smartphone without the resource charges.
Wearable device：The lower power consumption of Cat1 increases the usability of IoT wearable devices. It enables pinpointing to locate missing persons, sends notifications when certain criteria are met, and grants access to protected facilities through authentication.
Vending machines are a great example of a massive IoT application because they can be placed almost anywhere. Cat1 helps minimize cost and ensure reliable coverage in this scenario.
Security system：Cat1 cellular connectivity is used in many IoT security systems. Cellular network is more suitable for immediate use than Wifi/Bluetooth because it has no geographical and distance restrictions....
Dynamicode Co., Ltd's POS terminal has been widely equipped with 4G Cat1 modules to provide more secure and efficient data transmission.
What is 4G Cat.1
4G Cat1 is an abbreviation of CAT-M1 (LTE-M) in China's Internet of Things industry. It is a cellular technology that belongs to the lower version of the same series as 4G. Features of cost and high speed. Designed specifically for the needs of applications targeting the Internet of Things (IoT) or Machine-to-Machine (M2M) communications. Although the 4G module mainly uses Cat.4, the download rate can reach 150m, but most IoT scenarios do not require such a high rate.
Key features of CAT 1（CAT-M1, LTE-M）
Wide coverage: The signal can effectively cover indoor and underground or semi-underground locations (such as coverage in underground pipes, basements or other remote areas).
Enhanced Security and Reliability: The LTE-M network is secure and reliable, operating on licensed spectrum and comes with carrier-grade security.
Long battery life: LTE-M systems are very power-efficient, with a 10x improvement in battery life;
Low cost: Low module and invocation costs make it easy to produce and scale LTE-M enabled IoT devices.
Future : LTE-M is a standard set by 3GPP (3rd Generation Partnership Project), so it has all the reliability and continuity of 4G networks and subsequent 5G.
Broad application support: LTE-M has very low latency (<100ms) and supports two-way communication, making it suitable for both static and mobile use cases.
Cat.1 Development Prospects During the intergenerational migration of cellular IoT connections, the original 2G/3G connections can only be made by NB-IoT and 4G. Among them, low frequency, small packet, low mobility, low delay sensitivity, and high cost sensitivity scenarios can be implemented through NB-IoT; medium rate, certain requirements for delay and mobility, support for voice and cost have certain Affordability programs can be done through Cat.1.