EPOS and payment systems for hotels

POS stands for point of sale and is often used as shorthand for a POS device, which is a till or a card machine. POS is the moment a customer buys something, so the POS device is what’s used in that process. Modern POS devices, often called EPOS, can help with stock control, payments, records and much more.

Tapping with a credit or debit card is known as a contactless payment. It requires a card machine that accepts contactless payments. Customers can pay up to £100 simply by tapping their card, eliminating the need to enter a PIN. Cards loaded to a phone or watch, known as digital wallets can also be used to pay using contactless technology. The limit is much higher than £100 and is set by the customer’s bank and the merchant.

A payment gateway is like the digital cash register for online shopping. It's the secure bridge that lets you pay for items and services online by transferring your payment – whether it's from a credit or debit card, bank account or digital wallet – safely to the seller's bank.

In the hotels and hospitality sector, businesses 'pre-authorise' payments for items or services guests are likely to avail of during their stay. These typically include meals, drinks or spa treatments. The amount is approved before anyone knows exactly how much the final amount is going to be.

There are broadly two types of currency conversion services in payments. With Dynamic Currency Conversion (DCC), the card machine asks if customers want to pay in their home currency or the local one when they're abroad and paying for something in-person. Multi-Currency Conversion (MCC) lets businesses take online payments in different currencies from customers using foreign payment cards. It makes it easier for the customer to pay and track the transaction, so more sales for you.