When looking for point-of-sale (POS) technology, you might consider getting a POS system or credit card reader. You might already have one or both of these technologies. However, to get the most out of your POS and card reader, they need to have compatible hardware, software and features. This guide will explain how to choose a POS and card processor that suit each other.
How Do I Integrate a Payment Processor With My POS System?
Adding a card reader or POS system to your business can increase your profits and efficiency. When you combine these technologies in your workflow, you can improve your results even more. To ensure your company operates at peak efficiency, you need to find compatible hardware and software that let you take advantage of every feature available to you. Follow the tips below to make the process simple.
1. Choose a POS System
Your POS system will act as the foundation of your customer checkout experience. It processes sales, records transactions and manages other critical parts of your business. You can use a POS for additional functions like tracking employee shifts and monitoring your inventory.
Since a POS system records sales as they happen, you need your equipment and software to recognize your card reader. If you don’t have a POS system yet, you can use this opportunity to create a setup from the beginning.
Business owners who have an existing POS system can consult their POS company for information about compatibility. The company may offer its own reader and processing service or have a suggestion.
2. Pick a Payment Processing Service
A payment processor, also known as a merchant services company, handles the relationships and steps needed for credit card processing. Many of these providers offer card readers that work with their services. In some cases, you can also buy your own card machine. If you use a different company for payment processing than the one that provides your POS, you need to do careful research. Remember to check that all the hardware and software involved in both services work with each other.
If you decide to use the same provider for your POS and card processor, you can leave it to the company to handle updates and compatibility. However, that also means you need to choose a provider that offers excellent customer support and frequent software updates.
3. Research Security, Customer Service and Extra Features
When considering POS and card reader providers, the experience they offer matters as much as their services and products. So many financial processes now happen through the internet, making us more vulnerable to fraud. Make sure your providers have security features like anti-fraud services and breach protection. You may also want to look into any costs for customer service and its availability.
What Benefits Come With POS-Linked Credit Card Processing?
Using an all-in-one POS solution and credit card reader together lets you take advantage of powerful business features. These technologies help you manage all aspects of your store and help you grow your profits. A comprehensive POS linked with a card reader provides the benefits listed below and more.
Faster Checkout Times
Your POS and card reader will save you time handling payments at checkout. You can use the POS to scan and enter item prices with unparalleled accuracy and add discounts within seconds. The POS calculates theses transactions and sends the information to your card reader.
POS tools such as a scanner and integrated scale let you ring up items in an instant. With a robust payment processing machine, your customer can use a variety of payment types for their purchase. Once you finish the sale, your POS system will keep the information in its records.
Accurate Record Keeping
The combination of a card reader and POS system can save you hours on bookkeeping and profit analysis. Your POS makes an immediate record of every credit card transaction at checkout. It also keeps track of check, cash and mobile payments so you can see all the money that goes into your store.
An all-in-one POS solution includes comprehensive store statistics that show your profits and performance. These statistics use your sale records to calculate what types of items your customers buy and where you make the most money.
Modern card readers use EMV technology to protect you and your customers’ financial information. EMV reads the chips in the newest payment cards instead of a magnetic strip, adding extra layers of security. Your POS system will also secure your information with employee logins and accurate records. The reports generated by a POS system can give you the necessary information to track possible theft or fraud. When you choose services that follow industry-best security procedures, you benefit from an even higher level of security.
Adding a POS system and payment processor to your business gives you the features needed to become a leader in your local market. Major chain stores use these technologies to make business efficient, and you can give your customers a similar experience. A card reader that accepts multiple payment forms helps you increase your number of customers by giving them more options at checkout. With so many customers relying on cards as their primary payment method, you open up your store to more people than ever before.
POS+ Is a POS System With Credit Card Processing
At National Retail Solutions, Inc., we understand that small businesses like yours need a straightforward solution to sales management. You need resources that get the job done and make sense. We created the POS+ system and started our payment processing services to meet these standards. POS+, the all-in-one POS solution, includes all the software and hardware needed to process sales and grow your business. You can also add a credit card reader and processing services at an affordable rate.
Let us handle the complicated aspects of payment processing so you can build business strategies that increase profits. Get in touch with our sales team today to learn more about POS+ or request a quote.