In Europe about half of the payments are done by card. There are two main benefits for merchants to integrate their payment terminal with their point of sales:
- double the speed of payments
- no human errors
Payments with double speed
In case of integrated point of sales with a payment terminal the time per one sale is decreased more than 50%. How does it work?
A seller will click the card payment button in its point of sale system and there will appear the text “waiting for the card”. A client will insert her/his card into the payment terminal and the sellers can monitor the payment terminal steps happening on his/her screen. The seller has no need to insert the sum to be paid separately into the payment terminal as it happens automatically.
This saves 3-5 seconds per each transaction and so per 200 transactions it means already 1000 seconds of win for your business, i.e. 15 minutes of extra time you can earn additional money, especially at rush hours.
One can also use swipe payments to speed it even more – it takes just one swipe to get it paid. Small lunch and drink payments can mostly be done that way as the sums per transaction stay below the limits of swipe payments settled.
Human errors eliminated
How it happens? While a seller has to type the sum to be paid by hand into the payment terminal in a rush or being tired, it happens that instead of 10 euros only 1 gets inserted. In the end of the seller’s shift the mistake comes out but one cannot get the missing money from a client any more and it takes time to find out where did the mistake come from. An integrated payment terminal and point of sales does not allow these mistakes to happen.
Strict security rules means several certificates
All payment terminals have to be certified and so do point of sales systems and integrations. It mostly means additional software developments and upgrades. Certification process includes hundreds of test transactions and analyses. Then a 1-2 months pilot phase and just after that the sellers gets the permission for real installation.
Ektaco has long experience integrating payment terminals with point of sales, which also means that very many certificates are already made.
Renting a payment terminal leaves the risks to the lessor
Merchants prefer renting their payment terminals. If you buy your terminal then you also need to buy a new one while there comes a additional requirement concerning international credit card payments or a new functionality is added, e.g. swiping. The lessor has to exchange your terminals, so you do not take the risk.
One can rent the payment terminals from a bank or also from Ektaco. While renting it from a bank please find out if this terminal can be integrated with a point of sale and ask the bank to set it up for it.