Your question is basically the concern and concern of most merchants who intend to handle POS machines. The differences between banks and third parties can be summarized as follows:

(1) At present, there are two types of institutions that can handle POS machines: banks and third-party payment institutions;

(2) Remittance Tianxia, Lacarra, UnionPay Business (not UnionPay), Aihui and Zhonghui are all third-party payment institutions, which are supervised by the People's Bank of China and all hold the payment licenses of the central bank, and are all legal institutions;

(3) The common POS machines in major banks adopt the mode of direct connection with the banking system and docking with the UnionPay system;

(4) Advantages of bank POS machines: high public acceptance, reliable security, trustworthy endorsement by banks, and free use of machines by merchants. However, his shortcomings are obvious to all, that is, the review time is too long, it takes more than one month, and the application threshold is high, and the standard fee rate is implemented.

(5) Advantages of third-party POS machines: the application procedures are efficient and fast, the types of machines and tools are diversified, the logistics service is more people-friendly, and the handling fee is flexible and changeable. The disadvantages are low public acceptance, prominent code skipping in the machine and so on;

(6) Now some banks are also beginning to open cooperation, that is to say, you apply for POS machines in banks, and the actual institutions are third-party payment institutions that cooperate with banks, such as UnionPay business;

Comprehensive suggestions:

(1) If you are a business merchant, you'd better apply for a bank nearby. The best way is to apply to your company's bank, which will be happy to accept it because it can bring him a source of deposits.

(2) If it is a small and micro merchant who wants to get fast service or mobile machines, it is recommended to choose a third-party payment machine;

In a word, banks and third-party payment are legal institutions that have been approved by the People's Bank of China to carry out POS business. You can completely trust which one, and the specific choice needs to be decided according to your actual operation.