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Technology integration defines the hardware, software and interface necessary for utilizing the various services within payment processing and cloud accounting. This also includes remote hosting in the cloud and the connectivity between stationary, mobile and online resources. The three primary categories include.
These primary tools of commerce are powered by The City POS a company dedicated to staying on the top of the technological curve in the critical areas of card processing, PCI DSS security requirements and software advancements. Sometimes the human interface is the most important functional piece to a strong integrated design. Rather it be a slick touch screen POS, or an intuitive eCommerce back-end, designing and integration the correct technology within your commerce framework can make the difference between smooth sailing or choppy waters.
See the corresponding sections for an empirical outline of each category. The topics below are geared toward establishing the correct mindset around how to leverage each piece of technology available. Also reference the blog for up to date information on advice on a wide range of topics.
Importance of The Correct POS Setup
Many new and start-up businesses underestimate the importance of thoroughly walking through this decision process. The method in which taking payments at the point of purchase is established, quite frankly, can dictated how smooth business transacts, customer satisfaction and overall revenue. In addition the connectivity, or lack their off, will determine how much time and labor is necessary to track important financial information, ensure accuracy of reporting and monitor employee behavior. Also, once a decision is made, many business owners find it difficult to change either due to financial constraints, time restrictions or infrastructure.
The challenge is that it is difficult to truly quantify all of the benefits of one design over another similar to how it is difficult to totally quantify the effects of marketing. Even though a customer did not buy directly because of an ad, how does the branding effect that customer’s future purchasing decisions?
Similarly how will a tightly ran gift card or loyalty card program change a customer’s buying habits? If a regular customer can keep a running tab open will this encourage them to spend more? Which POS configurations support these types of programs? In addition to these thoughts, how does appearance at checkout affect the customer’s decision to return? How speedy was the checkout?
The answer may not be to simply buy the most expensive piece of hardware and software combo available, but to truly design the point of purchase as part of the customer interface that is just as important as the tables, paint and counter-tops; not just an afterthought.
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Payment Gateway Possibilities
Internet payment gateways are no longer simply for eCommerce and shopping cart integration. In some cases, payment gateways can provide the core by which all payment acceptance paths lead to. In addition payment gateways, more specifically virtual terminals, can be utilized as an acceptable retail or mobile payment node. The correct bolt on peripherals can even give the benefit of card present rates, quick transactions and stylish receipts. Although it may look odd if a fine jeweler pulled out a laptop with a USB reader to process a $10,000 transaction, it is hardly less secure and these types of setups are becoming more and more common and acceptable. With the universal nature of email, auto-emailed receipts are also beginning to replace the need for customer copies and allowing for more flexibility in how the merchant configures their payment station.
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Capitalizing on Apps and Mobile Flexibility
For some larger or more established businesses it may seem that smartphone or tablet apps are something only for seasonal, occasional or brand new merchants. This train of thought could not be further from the truth. In the past for a merchant to truly have a mobile processing solution, they were required to purchase a costly ($400+) wireless terminal and pay not only additional transaction fees but also a wireless network fee very similar to cell phone. Why do it twice?
Enter the age of smart-phones, tablets and credit card processing payment applications. This allows all merchants to get mobile easily, even the large ones. For trade show and traditionally mobile merchants, such as contractors, this solution is a dream come true. Only one piece of hardware to carry and normal fees to worry about. The flexibility for part time merchants is immeasurable.
So what can the big guys do? Offer more payment nodes, gives sales professionals the ability to charge on location, go on the road? The options are limitless and only tempered by the imagination of the business. The technology is here – best to put it to use!