Restaurant Transaction Overview; Gift And Loyalty Card Overview; Commercial Card Overview - PAX S300 User Manual

S300_USER MANUAL V2.1

7.1 Restaurant Transaction Overview

A restaurant financial transaction is an agreement that takes place between a customer and a merchant
to exchange an asset (legal tender) for payment. When performing transactions, the following list
highlights the types of legal tender used for transactions.
This section describes each transaction type for the following types of tender.
Credit
Debit

7.2 Gift and Loyalty Card Overview

A gift or loyalty card is a prepaid value money card issued by a retailer or a bank that can be used as an
alternative to cash or paper gift certificates for purchases in a particular store or related businesses.
There are two types of gift or loyalty cards:
Open loop cards These cards look like a credit card and are accepted nearly everywhere.
Closed loop cards These cards only work at one store, or with one particular brand.
Gift and loyalty card transactions can typically be swiped just like a credit card, but some are scanned
like a UPC or manually processed.
Because Gift and Loyalty card transactions are
performed much the same way as Credit or Debit Card
transactions, they are not described separately in this
manual.

7.3 Commercial Card Overview

Commercial cards function in much the same way as a credit card. The primary exceptions are the
terminal will provide a visual indication that the card is a commercial card (often a "CC" on the terminal
screen) and the terminal may prompt for a customer code and a tax rate amount.
Because commercial transactions are performed much
the same way as credit card transactions, they are not
covered separately in this manual.
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The ability for someone to obtain goods or services before payment, based on
trust that the payment will be made on a later date.
An amount of money removed from an account for the payment of goods or
services.
NOTE
NOTE
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