POS (point of sale) systems are extremely relevant when it comes to the technological advancements in FinTech.
The reason is the adoption of cash alternatives. Most especially for Small and Medium-sized Enterprises (SMEs), whose customers transact with small and relatively large sums.
Cloud-based Point-of-Sale (POS) solutions are becoming more and more sophisticated, making them easier to use for both consumers and merchants.
Buying and selling of goods and services has never been easier.
It’s not just that we have issues. We also have situations in which we are going backwards.
They’re still prone to fraud, theft, and payment disputes, but not as often as they were 5 years ago.
Other issues such as reclamation of guarantee on products purchased or services acquired, and debit without alerts due to network issues between the terminal and acquiring server.
For this reason anyone should track the location, POS owner, transaction time, and items sold.
How do you get started?
How to Track POS Transactions – The Steps
Step 1: Visit your bank or contact your bank customer care.
The majority of fraud-related issues should be reported to your bank rather than unknown third parties, as this ensures the safety and protection of your information.
You may find yourself in a situation that may cause you to fall victim to a scam. Other people may try to trick you, lead you astray, or erase any proof.
Step 2: Explain the context of the situation.
When you do a transaction or payment with Amazon, it’s important that you tell the truth about how you came to have that money.
If there was an overcharge on a product, if you suspect that it may have been a fraudulent purchase, and if it’s not one of the items you already purchased, contact Amazon.
Step 3: Provide proof (of payment or charge).
You don’t have to do a thing to your account, but if enabled, for every charge on your debit/credit card you will receive an email or text
This mail or text contains solid information as to when, where, and how the transaction took place.
Step 4: Tracked through debit details.
1.This particular bill will result in the following details;
– Amount (
2. deducted at “AvivaI Restaurant” and the balance amount is (11,
3. or something close.
You may be a victim of fraud, so you’ll need to confirm the transaction. The first thing you should do is check your banking statements. If the transaction looks out of place, you need to ask for a refund or a replacement card.
This information can help you trace the purchase back to wherever it was made, and who made it. If the seller kept proper records, you can use it to figure out who made it.
If it’s for an overcharge or refund, you can get your money back, as long as you have the receipt and have a genuine reason.
Step 5: Bank contacts merchant.
For an ecommerce site, the payment gateway works to process credit card transactions.
Each POS has a register of the company it belongs to.
To get started you need to complete both an Amazon seller app and an Amazon account transfer request. Once you have these ready to go, Amazon will let you know.
This way, data such as time, date, transaction number, phone numbers, email address, transfer location.
If the bank or issuing card authority receives a request from the cardholder to reverse a payment, it can determine whether the request is a valid one.
The majority of POS systems are designed to meet global industry standards before use.
The Payment Application Data Security Standard (PA DSS), the Payment Card Industry Pin Entry Device (PCI PED) and the Payment Card Industry Data Security Standard (PCI DSS) are examples of such standards.
In addition, the hardware and infrastructure must comply with the minimum EMV requirements.
The reason for this? Fraud can be easily curbed or traced.
It’s important as a merchant to realize that you will be held accountable for fraud with the card (transactions) arising from its negligence, collusion with fraudsters, among others.
It is very important for both the hardware and software to undergo routine checks for lapses or irregularities.
If you have a problem with your Alexa account or Alexa device, it’s important that you identify the issue.