TEF means “Electronic Transfer of Funds”. It is a system recommended for establishments that have a large volume of transactions and in need of greater control over the sales. The TEF is integrated into the front of the cashier of your store and it allows you to initiate the transactions direct of the origin.
It works as follows: a card reader (a PinPad) is connected to the TEF, installed in a computer, tablet or mobile at the point of sale. This TEF is responsible for controlling the inventory, record sales, engage the reader and send the transaction data to Stone.
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Know the Stone MicroTEF. On it, you can connect up to 7 card readers in a single computer, tablet, and execute transactions simultaneously, keeping all the control and benefits that the TEF offers to you.
- At the payment time, the Stone PinPad is activated by the TEF software.
- The user inserts the card and password. These information are encrypted by the Stone PinPad and sent to the TEF Software.
- The TEF send the data obtained by the PinPad to the servers, and they send the transaction over to Stone so that the authorization to complete the sale is given.
- Stone does not offer the TEF software nor the required devices besides the PinPad. Please contact us to know our collaborators and suppliers.
- The transaction data reach Stone, and it validated with the issuers the encrypted data, verifying if the client has funds or credit to perform the purchase.
- With the confirmation, Stone authorizes the transaction, and sends the confirmation message back to the TEF Software, that will be displayed in the PinPad with the message “Authorized Transfer”. The entire process takes a few seconds.
You can anticipate the receipt of your sales credit, in the 2nd business day after the transaction, as if it was a debit sale. This operation can be either automatic or manual, depending on your need.
Stone’s integrated reconciliation gives you more control over the payments we make to your sales. You are quickly able to detect any transaction since it is captured until the payment is fulfilled. And you pay nothing more for it!
Track in real time all transactions in your POS.
Whatever your business is, we have a solution for your payments. The best tools in a single place.
Our products have been designed to support intense volumes and high transaction peaks.
In Stone we are committed to offer you the most human and smart attendance.
Stone knows that each business is different from the other. That is why our solutions and fees are flexible and personalized.
Our dashboard was designed for you to go straight to the information you need, on your computer, tablet or smartphone.
For you to have a full view on the total cycle of your transactions, since it is capture until it is paid.
We have the best tools for e-commerce, that will increase your sales.
Do you want to start receiving card payments now? Great! Stone helps you in all stages.