There are some simple ways to answer the question whether or not you should upgrade your terminal to a POS.
If you are processing credit cards on a terminal, whether you just swipe the card (for now since you haven’t taken the step to add a chip reader,) you may want to consider the benefits of going to a full Point Of Sale system, or POS system.
With a terminal, you can access your sales transactions via your monthly statement or accessing your secure online portal to run a report.
With a POS you can do all of that AND set up an automatic integration to push your TransActional data to QuickBooks.
With terminal, you can refund a sale based on your company policy (and by that I mean, whether or not you allow refunds.)
With a POS you can refund a sale (based on company policy,) OR allow a partial refund…this can save you money on processing expenses should the customer only want to return the one item that didn’t fit, work or is not actually needed.
With a terminal you can accept payments via credit and debit cards. You may need a separate terminal to process gift cards.
With a POS you can integrate other benefits and features in addition to gift cards such as loyalty programs, customer relationship management, inventory management and so much more.
If you are in the market to update your processing equipment, to either start accepting chip based cards and/or you think you’d like to be able to do so much more, you may be ready for a full POS system.
Finding the right solution for your business can be a daunting task and if you have questions, we can help. We are authorized to offer our clients several different POS system solutions. We routinely advise clients to select the right system, based on unique business needs as well as the team who help run the business day to day. With so many options and choices to consider, don’t spend too much time looking without getting a some free advice.
~ Mary Ann