A payment terminal, also known as a Point of Sale (POS) terminal, credit card terminal, EFTPOS terminal (or by the older term as PDQ terminal which stands for “Process Data Quickly” or in common jargon as “Pretty Damn Quick”), is a device which interfaces with payment cards to make electronic funds transfers.
Why is it called a PDQ machine?
PDQ stands for ‘Process Data Quickly’. PDQ machine is just another name for a card machine. So having one means that you can process credit and debit card payments. It was the original name used for card terminals when they were first introduced to the UK, and the name is still a popular alternative term used today.
How does a PDQ machine work?
What is a PDQ machine? This is the card machine you use to tap or insert your credit or debit card at check-out. A PDQ machine is just a card machine or chip and pin machine, and the chances are you used one the last time you bought something. PDQ stands for “Process Data Quickly” – and that’s exactly what they do.
What is swipe machine called?
An EDC machine (also known as a card swipe machine) is a payment terminal provided by the bank on which the merchant can swipe or dip cards to receive payments. Since the card can be a debit card or a debit card, the machine is also known as a credit card swipe machine or a debit card swipe machine.
Who invented the credit card swipe machine?
Forrest Corry Parry (July 4, 1921 – December 31, 2005) was the IBM engineer who invented the Magnetic stripe card used for Credit cards and identification badges.