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5 Key Features to Look for in Payment Terminal for Your Business

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    In order to succeed in today’s fast-paced and hypercompetitive digital era, businesses need tools that allow them to be more efficient. One such tool is a reliable point of sale (POS) system, which can help business owners streamline their operations and expand their market by improving the speed, accuracy, and efficiency of their transactions with their customers. Indeed, with a good POS terminal, even startups and SMEs (small and medium-sized businesses) can compete with bigger brands in terms of providing quality customer experiences during every sale.

    That being said, it can be difficult to choose a POS terminal and its accompanying hardware due to the sheer number of choices you have. If you aren’t well-versed with the technology, you may also end up getting a substandard or near-obsolete product that won’t serve your business for as long as you’d like it to. To help you pick the best POS system for your business, here are some key features or characteristics to look for:

    Ease of Use

    First, a good POS terminal is easy to use and comes with a user-friendly interface. One great example is Maya Business’s Maya Terminal, a handheld POS device that you can set up and use within minutes. Given what today’s customer experiences look like and how often you can expect your staff to interact with them during payments, you’ll want a payment terminal that possesses straightforward controls as well as touchscreen capabilities. This way, even those who aren’t “techie” can still intuitively figure out how to use it. 

    Keep in mind that a POS terminal is meant to make things smoother for your team and should serve them well, even when sales get busy. If you get a product that complicates your daily operations and adds to the stress of both your customers and your staff, then there’s little to no point in getting the device at all.

    Security

    When it comes to payment systems, data security should be among your top priorities. In short, the card payment machine you choose should offer robust security features so that your customers will feel safe using itLook for something like the Maya POS terminal, which encrypts and tokenizes sensitive customer information. These steps ensure that a customer’s personal and financial details are securely stored and transmitted.

    You should also verify that the POS system that the terminal complies with local and international data protection regulations. The device should also be ATEX-certified, EMV-certified, and PCI-DSS-compliant. An ATEX certification means that the POS terminal is safe to use in specific environments with explosive atmospheres, like gas stations. Meanwhile, an EMV-certified POS device means that it can accept cards with the latest Europay, Mastercard, and Visa chip technology. PCI-DSS compliance, on the other hand, means the POS terminal meets the standards of the Payment Card Industry Data Security Standard and is able to protect and prevent the misuse of credit, debit, and cash card owners’ personal information.

    Lastly, it’s also important that the payment terminal you choose can receive the latest software updates to improve compatibility and security. With a POS terminal that has all these security features, you can gain your customers’ trust and give them peace of mind whenever they’re buying something from your business.

    Compatibility with Multiple Cards and Payment Methods

    Before the advent of digital payment methods, cash was king for many Filipino consumers. Nowadays, however, the country’s consumers have diverse payment preferences. Aside from using cash, they’ll now want the option to pay from their e-wallets as well as a variety of payment cards. In order to cater to different customer preferences, you’ll need to choose a POS terminal that accepts multiple payment methods. 

    Make sure to verify the device’s compatibility with both major credit cards and popular mobile payment apps. The Maya credit card terminal, for example, accepts cards issued by Visa, Mastercard, JCB, American Express, and Bancnet. Aside from these, customers can also use the machine to pay via QR code using their preferred digital wallets.

    When your POS system supports multiple cards and forms of payment, you can provide a seamless and convenient payment experience to your customers. That can spell the difference between them returning to your store in the future or leaving you for a competitor that provides smoother, faster, and more convenient ways to settle up. 

    Ease of Reporting

    If you want to improve your business, you’ll also need to make data-driven decisions. This will be possible if you employ efficient data-gathering and reporting approaches. 

    A POS terminal that offers customizable reports on sales, inventory, and customer habits will definitely help you in your quest to improve your financial decision-making for your business. With streamlined and organized financial data from your POS, you’ll be able to gain valuable insights into your business’s performance and pinpoint what you should do to further improve. The right data can also help you identify trends that you can use to boost your marketing and product development efforts.

    Dedicated Support

    Last but certainly not least, it’s best to opt for a POS terminal provider that offers 24/7 technical assistance and troubleshooting services. This way, you can address any issues promptly and prevent disruptions to your daily operations. 

    Check if there are multiple ways to contact the POS’s support team as well. Your provider should at least have an email and a telephone number dedicated to customer support. Other avenues for communication that can be quite helpful to clients include social media pages and messaging apps. 

    It’s also critical that the provider offers regular software updates and maintenance to keep your POS system running smoothly and up-to-date. Be conscientious about updating your POS when you need to so that you won’t have any trouble when related technologies in its system go through upgrades. 

    Choosing the right POS terminal is vital for the success of your small business. By considering the abovementioned key features and characteristics for your ideal POS terminal, you can make informed decisions that align with your specific needs and attain your financial goals for your business. 

    Again, a good POS terminal and a robust POS system can streamline your operations, enhance your customer experiences, and contribute to the growth of your business. Evaluate your requirements and choose a product that will truly empower you to thrive in a dynamic marketplace.

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