What does the term hardware refer to?

The term hardware specifically refers to the physical components of a computer system or device. This includes the tangible equipment that makes up the computing environment, such as the computer itself, monitors, keyboards, printers, and any other devices that are integral to operating and interfacing with software applications. Understanding hardware is essential for anyone involved in technology and payments, as it directly impacts the performance and efficiency of payments processing systems.

In contrast, software applications are programs that run on hardware, network protocols and standards govern how devices communicate over networks, and documentation and manuals provide guidance on how to use hardware and software effectively. Each of these areas plays a different role in technology infrastructure, but hardware remains fundamentally about the physical equipment that enables these processes to occur.