Types of Payment

Estimated reading time, 7 minutes.

A payment type is a specific category of method that customers use to transact when paying for their purchased goods or services. Common payment types include cash, credit and debit cards, bank transfers, digital wallets, cryptocurrencies and installment financing. Proper selection of these in the system facilitates transactions to be secure and efficient, improves the customer experience, as well as complies with tax regulations.

Create Payment Types

This involves configuring and defining the different ways in which customers can transact in a point-of-sale system. This includes assigning a unique identifier and description for each payment method, setting whether they will be active or inactive, specifying the currencies accepted, and setting up additional details such as assigning printers to print necessary documents such as orders or invoices. These settings allow the system to efficiently and securely process and manage the various payment methods available to customers.

Steps to create a Payment Type

1. Access the Configuration
   • Go to the Configuration section of the system.  
2. Select Payment Types
   • Click on the Payment Types box.  
3. Create New Payment Type
   • Enter the Create Payment Type option. 
4. Complete the General Details of the payment type
   • Code: A unique identifier for the payment type you are setting up. This code is used internally in the system to differentiate between the different payment methods (Note: if you do not have one pre-set, the system will assign one by default).
   • Payment Type Description: A clear and concise description of the payment type. This can include the name of the payment method and any additional details that are relevant.
   • Belongs to: Refers to where the payment logic and processes are implemented and managed within the system.
     • Back-end: The client sends the payment information to the server, and the server communicates with the payment gateway to process the transaction.
     • App: The application (on the user's device) sends the payment information directly to the payment gateway.
     • Back-end/App: The application collects the payment information and sends it to the server. The server then processes the transaction with the payment gateway.
   • Status: This field is to select whether this type of payment will be active or inactive in the application. 
   • Payment Method: This is the specific way in which customers can pay for goods or services purchased (Note: New payment methods can always be created in the system).
   • Currency: Sets the currency in which payments will be accepted for this type of payment.
   • Assign fiscal printer: This field allows you to configure which printer will be used to print documents related to transactions, such as orders (kitchen orders) or pre-accounts (draft accounts) before the final invoice.
   • POS Type: Refers to the different systems and devices used to manage and perform transactions at a point of sale.
   • Integration Code: This is a basic implementation to integrate a payment method.
   • Print Fiscal Invoice: This field defines whether a fiscal invoice should be printed for transactions made with this type of payment. 
5. Save 
   • After completing the required information, the Create Payment Type button is pressed. 
6. Update
   • In the Application, the data is updated so that the new Payment Type is correctly reflected in the Pay Order screen.