Beyond POS Hardware: Why Merchants Need to Think Big-PictureSep 24, 2019
A payment is more than just a simple transaction over a terminal or other POS device—it’s an experience. Your customers, staff, and business as a whole participate in and benefit from a simple and efficient transfer of funds. It should delight and impress your customers, just as your product or service does.
This is difficult to do with aging hardware and outdated software. But thanks to innovative technology, this is changing. POS terminals that sat stagnant have now begun to evolve into more powerful solutions that go well beyond a simple piece of plastic that sits on the counter.
Your mindset around payments also needs to expand to encompass the big picture—the 30,ooo-foot view. Here are two simple reasons why.
Your Customers Will Love You
At the end of the day, your customers want to be able to complete their transactions simply and quickly. A key part of this is personalization:
- You know and remember them (and what they want).
- You take any form of payment, from cash to card to tap.
- Your loyalty program shows them love with rewards that are uniquely tailored to their purchase history.
They also want the ability to buy immediately, whether it’s fair-trade shoes, gluten-free pizza, or vegan donuts. A smooth, intuitive interface makes the experience painless, and even fun.
Your Team Will Love You
No matter how satisfied your customers may be, it does little good if your staff feels uninspired by the payment service they help provide. A modern POS platform built on the latest tech is simply more fun to develop, use, and improve.
This engagement carries throughout your team, from inventory management in the store room to POS transactions on the sales floor. Gone are the days when a cashier needed to say, “I’m sorry, we don’t accept that form of payment,” or “I don’t know if we still have that item in stock.” Your team will have up-to-the-minute information to pass on to customers, and can settle accounts and issue refunds in seconds.
These innovations lead to smarter, more informed decisions. A modern POS system provides real-time, user-friendly data available day or night. With a simple click of the mouse or tap on the phone, you can:
- See which products fly off the shelves (and which collect dust) and adjust your inventory accordingly.
- Learn which team members move the most coffee and bump them up to the morning rush.
- Grow your email list and customize your marketing to fit individual purchase history. Track which members are most loyal and shower them with rewards.
An all-in-one payment solution can also increase operational efficiency by as much as 24 percent. It also boosts team productivity by allowing employees to clock in and out wherever and whenever they need to work. Managers can view timecards and track hours to place staff where they are most needed.
A Revolutionary Platform That Works for You
Stepping back and taking the long view of your company and its place in the world can be a daunting task. It will uncover challenges as well as opportunities. Embrace those challenges, revel in the possibility of change, and you will be ready for what comes next.
The payment platform you choose can be one of your most powerful tools to make your big-picture vision a reality. It can inspire loyalty from your customers and innovation from your employees. It can future-proof your business, providing a flexible system that grows as you grow.
Poynt was the first smart terminal in the marketplace and is now an open, elegant platform that seamlessly integrates front- and back-end operations with third-party apps.