A terminal management system is intended to perform different tasks, including updates of terminal parameters, re-injection of encryption keys, and remote updates of applications installed on the terminal itself.
Payment Terminal’s Lifecycle
When it comes to configuring the terminal’s parameters, the TMS must be able to define, for example, which types of card payments the terminal is going to accept. When it comes to management of the payment terminal’s lifecycle, the system has to record its key stages, such as activation (both at a fulfillment center and at the merchant’s venue) and deployment. Beside that, the terminal management system has to record all statistical data associated with the terminal’s operation, and, ideally, record all deviations from average indicators. A terminal management system must also be able to perform remote key injection (for example, injection of CA keys for EMV cards). Finally, a TMS can contribute to targeted marketing by regularly updating the advertising content, shown on the screen of the terminal.
A TMS is an essential component of any embedded payment terminal solution. You can license an existing terminal management system, or try to develop your own TMS using your development team. In any case you have to consider all the functionality you need your TMS to take care of.
If you want to know more about the tasks performed by terminal management systems, you can find detailed information on TMSs in the respective article on #Paylosophy.