None Of this should come, as a surprise, that accepting credit cards in retail or food service environments is a no brainer. The benefits are obvious - you don’t need a MBA from the Sloan School at MIT or that other business school in Cambridge/ Allston - to appreciate the uptick to the bottom line.
Why the Buzz about Integrated Payment Processing?
Most of the sales staff from the banks and re-sellers have been to see you and are willing to sell you (even if it “seems “to free) a stand-beside terminal. Using a stand-beside works, even if slower to ring customers through the line and is subject to costly input errors… $ 5.99 for a $ 59.99 item – Hey! It’s just one digit off; one nine missing – Don’t get all worked up over it. The clerk will see error and if they don’t, then the customer in an Abe Lincoln like gesture of honesty would point out the error to the busy clerk.
Some More Bullet Points - Integrated Payment Processing
- Saves time by eliminating the double key entry of the amount to be charged and you don’t have to compare the amount on the cash register receipt to the amount on the charge slip.
- Saves time at close out that the register Z tapes don’t need to be checked against the credit card machine report.
- Integrated Systems are less expensive to purchase and do more. Compare a Royal, Sharp or other low end cash register purchased at a wholesale club or office supply store and then add the cost of a stand-beside credit card processor, you will pay more and get less than purchasing a Casio or SAM4’s terminal with integrated processing.
- Save money with high-speed because you save the cost of telephone lines especially in multi-lane checkout operations. You can process credit cards and talk at the same time over the same DSL line. Get rid of a few lines for an immediate return on your investment.
- Faster transactions and check out times tends to make for happier customers.
- Makes mistakes and stealing much, much harder. This is a benefit that is more difficult to talk about but probably has the greatest impact on your bottom line. Ever wonder why national chain petroleum convenience stores spend big money on POS systems with integrated credit card processing? Prior to using an integrated system some minimum wage employees were stealing more than their total wages.
Faster, cheaper and more secure- we know, you need time to think about it.