4 Reasons to Switch to Integrated Payment Processing
As a small business owner, you know that the checkout is an important part of the shopping experience. For customers, the checkout is the final stop when making a purchase. For retailers, it’s an opportunity to increase profits and give customers a lasting positive impression. Switching to integrated payment processing is one way to ensure an accurate, efficient and customer friendly checkout at your store.
Integrated payment processing means that your point-of-sale terminal and payment terminal automatically communicate to complete a sale. Transaction amounts are sent from your POS to your card reader, the customer is then prompted for debit or card details, and the payment information is securely sent back to your POS to complete the transaction. There are several benefits to switching to integrated payment processing.
As one of the last touch points before a customer leaves your store, use the checkout as another opportunity for a positive experience. Customers expect a fast, friendly checkout with few delays. With your POS and payment terminal syncing, transaction totals no longer need to be manually keyed-in, resulting in faster transactions and more time to connect with your customers.
Processing sales and refunds quicker not only ensures a better experience for the customer, but also increases employee efficiency. With faster transaction times, not only can more customers can be rang through, but time is freed-up to assist customers on the sales floor. Integrated payment processing makes the checkout process simpler, so new employees can spend less time training and start serving customers right away.
Less chance for human error and fraud
Human error is an unavoidable cost of doing business. Finding ways to reduce mistakes can help your store’s bottom line. With your POS and payment systems seamlessly communicating there is significantly less chance for accidental data entry errors. Eliminating double data entry also reduces the opportunity for fraudulent transactions, especially when using an E2EE (End-to-End Encryption) solution. Solutions that are compliant with industry standards make your store less susceptible to fraud or a data breach. Look for a PCI DSS Level 1 Service Provider – the highest level of assessment available for security and encryption.
Save time at end of day
Syncing payments with the point of sale means that payment totals and types always match, making end of day reconciliation faster and accurate. Balancing totals are easier, so you and your employees can get home sooner.
With the right solution, retail stores of any size can benefit from the efficiencies of integrated credit card processing. When considering a solution provider, look for a reliable partner that provides technical support and continual updates to ensure you’re staying on top of customer payment trends and security threats.
Want more information on how integrated payment processing can help your retail store? Contact us today!