Typical payment terminal application features include features related to transaction processing, as well as support of various loyalty programs and non-payment functions.

Handling of ACH transactions, support of both card swipes and manual entry, handling of encrypted PINs, support of both contact and contactless EMV payments, as well as RFID cards, closed-loop gift cards can be classified as payment terminal application features concerning payment processing.

Support of non-payment magnetic cards, as well as near field communication (NFC) technologies represent another group of useful payment terminal application features, especially when it comes to loyalty programs.

If non-payment functions, such as agreement management are required, a payment terminal application needs to support custom dialogues and interactive custom forms, as well as capture customer’s initials and signatures.

 Stand alone terminal offerings, which do not use point-of-sale applications, need to be able to handle both regular and split payments (partial authorizations), manage batches and tips.

More advanced payment terminal application features concern tokenization of card data, point-to-point encryption mechanisms, displaying of customized advertisements, and interaction with terminal management systems (TMS). Ability to handle of surcharges and donations in addition to primary payments is another advanced payment terminal application feature.

 More information on payment terminal application features is available in the respective article on #Paylosophy.