TPV stands for Terminal de Punto de Venta, which is a Spanish term for Point of Sale Terminal. It refers to a device or system used in commercial establishments to process customer transactions, notably for the purpose of payment for goods or services. The TPV acts as the central point where a customer's payment information, such as credit or debit card details, is securely entered and processed.
A TPV typically includes various components, such as a hardware device that incorporates a card reader, a screen, and a keyboard or touchpad for input. It may also include software that enables the processing of payments and facilitates other functions like inventory management and sales reporting. In some cases, TPVs can also be software applications installed on mobile devices like smartphones or tablets, allowing for flexible and portable point-of-sale capabilities.
During a transaction, the TPV securely captures the customer's payment information, verifies it, and then communicates with the payment processing network to authorize and complete the transaction. The terminal may print receipts or generate electronic receipts for customers, while also keeping records of sales for the merchant.
TPVs are widely used across various industries, including retail stores, restaurants, hotels, and other service-related businesses. They improve efficiency and accuracy in transactions, reduce cash handling, and offer convenience and security for both the consumer and the merchant.
