Making sure your business has a modern point of sale (POS) system integrated is a good way to create a loyal customer base that trusts your business and generates profit. Here are the top benefits that comes with keeping your business technologically empowered and your POS system up to date.
1. Accept Revenue from as Many Sources as Possible
Before you’re ready to do business, make sure you have the latest POS system in place and that it is working properly so you’re able to accept payments from multiple sources seamlessly. For example, EMV (chip) cards, Apple Pay and other forms of mobile payment require what’s known as near-field communication technology.
2. First Impressions Matter – Even with POS Systems
When customers come into your place of business and they see that you an advertisement that you accept Apple Pay, or use an iPad to stream line the receipt process – this automatically tells people that you’re keeping up with the latest trends in payment processing technology. This will impress customers and improve their perception of your business. The reverse is true if your sales terminals are antiquated. Restricting your business to tradition forms of POS can even cause you to lose business in some cases if a customer was only prepared to use Apple Pay or another mobile/contactless form of payment.
3. PCI Compliance – Going the Extra Mile
Having EMV readers, Apple Pay, and other mobile/contactless technologies also means that the POS System in your business is PCI compliant and therefore has the strongest security protection. This is another way to keep your customers coming back time and time again because they can feel secure doing business with you. It also improves customer service by taking the card out of a server or cashier’s hands and allows guests to have control over:
- Self-inserting their EMV card
- Self-swiping their Mag Strip card
- Choosing how they want their receipt
- Paying by mobile phone (Apple Pay, QR codes, etc.)
- Receiving discounts through electronic loyalty/coupon programs (Cartwheel, Shopkick, Ibotta etc.)
4. Security Benefits of POS Systems
Not only does having a modern POS system in your business give off the impression that you’re keeping up with payment technology trends and you care about your customers’ needs, it also shows that you’re aware that POS systems offer better security for you and your customers. Magnetic strip cards are notorious for being vulnerable to breaches and hacks. EMV cards and Apple Pay are more secure because they both use encryption to protect financial data.
Invest in a new POS System and Start Growing Your Business Today
Having a new POS System in place at your business is essential in maintaining a healthy sales strategy. You can have a great product, but if there is a lack of trust in your payment technology, there may also be a lack of customer loyalty. Keeping up with the latest in payment technology trends and acquiring a new POS System will be a worthwhile investment that will do wonders for your business.