Using a POS terminal to accept payments is a pretty straightforward method. You enter the amount on the POS terminal, ask the customer to swipe or hover the card over the terminal, in some cases to enter the PIN. The terminal takes a few seconds and if the payment goes through, the receipt gets printed out. In those few seconds, the customer’s card information is sent to issuing and acquiring bank for authorization and authentication to check the information like available balance, card expiry, etc. if all the checks go through, the payment gets approved. But how does all of this happens?
The answer is a SIM card. Your POS machine contains a data SIM card that enables the connection for transactions to happen. As merchants are preferring POS terminals for accepting payments in nearly every field, it is essential to understand the world of SIM cards.
SIM is an acronym for Subscriber Identity Module. SIM cards are used to connect to cellular networks. They also store the information such as network settings, information required to connect to the network, phone number, etc. including the information and settings like which carrier to connect. For the purpose where there is no human interaction is needed i.e. for communication between devices, an M2M SIM card is used.
What is an M2M SIM card?
M2M or machine to machine SIM card sends and receives data across the cellular networks. When associated with IoT, M2M SIM cards transfer the data with other devices. Though the features of M2M SIM are similar to that of regular SIM cards, they are more exclusively used for specific purposes, mostly business or industry.
What are the benefits of using an M2M SIM card?
Multi operator mode –
M2M sim cards are designed to be used with multiple network carriers. Instead of fixed on one default network, M2M SIM cards can roam on multiple networks on steered or non-steered basis.
Depending on the solution and available network signals, M2M SIM enables access to any mentioned or specified networks. This is how multi-operator SIM works.
Remote access – Often IoT application and solution requires devices with remote access. In such cases, SIM needs a fixed IP address to securely transmit data across connected devices. M2M SIM cards enable this remote access for machine communication.
SIM management – With SIM management, you can view the status of your SIM card. The management platform allows you to keep tabs and manage operations in real-time. Some of the operations are, activation and deactivation of the SIM, manage data usage, setting data caps, etc.
M2M SIM cards can be managed over a large number of devices securely. M2M SIM cards have more storage capacity and a longer lifecycle. M2M cards are cheaper and more durable, they are made to endure extreme temperatures and harsh working environments. M2M SIMs are often tailor-made for the required solution and the environment. It is near to impossible to tamper with M2M SIM cards making them more secure for data transmission.
Lyra’s M2M enables seamless communication between IoT’s over a secure and reliable network. Lyra gateway supervises and manages SIM cards of your M2M fleet. It routes data from connected objects like IoT, alarms, CCTVs, displays, etc. securely.
M2M Components managed by Lyra
Lyra’s dedicated setup with all Telcos makes it a single-stop solution. Customers can get any telco-related issues resolved by optimizing the network strength. Lyra uses a multi-routing function and offers an intelligent portal for troubleshooting real-time transactions, these transactions are encrypted so only Lyra can see the end-to-end traffic flow from your POS machine to Bank, providing excellent end-to-end connectivity.
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