You might be happy to find out that implementing credit card payments is not as difficult as you might think. First of all, you need to set up a merchant account and get a few POS hardware items to accept card payments. These items will reduce checkout lines and you will be able to sell more products each month because customers don’t have to wait too long to pay.
If you’re still unsure how POS technology works and what components to buy then dive into this article. You’ll learn more about POS devices, barcode scanners, and everything that will help you accept credit card payments quicker. However, do note that every business is different and not all businesses require all the items listed below.
Credit Card Terminals
Credit card terminals are also known as POS devices. They are small devices that allow customers to make payments with a debit or credit card. The process is so advanced these days that you don’t even need to input your card’s PIN for certain transactions, you just have to keep it close to the terminal. Since there are numerous banks that issue credit cards, you might need to buy several POS devices to accommodate the payment options of all your customers.
Most POS equipment comes with an automatic barcode scanner built into the machine. You just pick up a product, swipe the code in front of the scanner, and the product is recognized. However, you might also need a handheld barcode scanner. This item is useful for those heavy products that can be very difficult to scan with the regular scanner. Also, handheld barcode scanners are easy to use and can reduce checkout times.
A touchscreen monitor allows your employees to quickly choose the right product, select the right payment method, and do other tasks that might be required in the establishment. This monitor is linked to the POS devices on your counter and they automatically fire up the receipt printer after a transaction is made. Some checkout counters require multiple touchscreen monitors for multiple cashiers that are accepting payments from a lot of clients simultaneously. If your store is quite large and you have a lot of clients buying from you, it might be required to buy multiple touchscreen monitors.
Finally, the receipt printer is also required when installing a POS system. This simple device is smaller than a regular printer and it only prints receipts after a transaction is complete. The receipt printer is fully automated, so you don’t have to manually operate it. You just need to find the right spot for it on your checkout counter and add more paper once it runs out. Printing a receipt and offering it to clients is required by law and that’s why this component is mandatory for your POS system.
If your business prices products according to their weight, then your POS system will also need a weighing scale. Some examples of businesses that rely on integrated POS-with-scale systems include supermarkets, bulk food stores, and butchers.
Most businesses rely on a label printer to print the order or labels to verify the order and prevent any incorrect or lost orders. Printing order labels also provide the customer with a reference point to ascertain the purchased products. Some label printers can be synced with online software to sync orders from the company’s e-commerce website.
This may not be necessary for many businesses due to the popularity of cashless payments. There are both pros and cons to going cashless. However, having a cash drawer is a good alternative for senior customers who may not be technologically savvy and prefer to pay in cash. You should thus think about the best approach for your business and whether a cash drawer is necessary.
Although implementing POS systems involves a few steps to take, you only do it once for your business. On top of that, accepting payments with a POS system will increase product sales because it can reduce checkout times. Contact Millennium Payment Systems today to learn more about POS devices, credit card payments, and how to set up your merchant account easily.