Does the programmable POS keyboard with magnetic card reader read smart cards?

Question

Payment systems

Hello!
Please tell an ignorant accountant how to properly organize acquiring at a retail point of sale. We bought a computer and peripherals for the cashier's workplace, including a POSua LPOS-096-M12 programmable keyboard with a USB magnetic card reader. We want to conclude an acquiring agreement with the bank. In this regard, I had a question: if a bank comes to us to connect its stationary POS-terminal, can we say that we have our own reader (in the keyboard), and can it be connected to bank processing? What is the general practical benefit of having an MK reader? And also the question posed in the topic: does he read smart cards? I summarize: did we spend money on this keyboard in vain, if the bank installs its equipment anyway?
Thank you in advance for clear "tea" answers.