POS TERMINAL – Customers satisfaction plays a lot of roles within your business and it is the secret of most successful business, its effects cannot be overlooked as it is a major factor to the success or failure of a business.
Accepting payment is an essential task of any business and Customer service positions are becoming increasingly focused on Technology.
In order to offer flexibility, accountability, security when processing daily transactions, to improve Merchant chances of success by providing them with tools to streamline business process, many of which will be very tedious and resource exhaustive to complete, and also to save you from being left behind in embracing this innovative, tech-centric mentality, we encourage you to adopt the use of POS terminal as a medium of payment in your business. You can check for other payment options following this link
WHAT IS POS TERMINAL?
In brief, Point of Sale (POS) Terminal is a device that allows business accepts bank card payment for transactions.
It was introduced as a solution to managing risk associated with cash handling and to promote the use of electronic systems across the board.
HOW TO GET A POS TERMINAL
In order to protect customers paying with their Bank cards and to protect business owners from “fraudulent experts” who might install malware to steal customers details, all terminals are maintained by the Bank/issuing bodies.
To get a POS terminal, you are advice to visit your account officer, who will in turn request that you complete the filling of a form after which you will be asked to fill the POS agreement document with the bank, upon approval the POS is delivered in less than 2 weeks to the business address indicated on the form.
HOW DOES A POS TERMINAL FUNCTION?
The POS terminals comprises terminals and Peripherals that involve one or a combination of devices, such as;
*Touchscreens (either all-in-one unit or terminal add-ons)
*Credit card readers
*PIN (Personal Identification Number) Pads
*Electronic cash register Terminals
*off- the Shelf personal Computers
*Check out sales.
While Software depends on the business type, a small “mom and pop” type business has a less complex needs than a large chain retailer.
But all these are put together by the Manufacturers/distributors who will, in turn, explain the user guide to the operator.
WHO CAN OPERATE THE POS?
A literate individual capable of operating a Mobile Phone properly can operate a POS terminal successfully, grades and academic qualification are irrelevant in the operation of this terminal, this explains its simplicity.
ADVANTAGES OF POS TERMINALS
- Provide detailed sales reports
- Helps in employee shrinkage reduction.
- Simplifies the accounting process as it enables easy access to past transactions
- Helps in the creation of orders
- Help Customers get more briefed items receipt
- Helps to manage employee work chart easily
- Allows cashier to remember the price of items with accuracy
- Helps to limit cash handling and it provides faster services than the old cash systems
- Instant payment notification which helps to eliminate long register line during payment.
- Easy to operate
DISADVANTAGES OF POS TERMINAL
- Lack of reliability from service provider
- Risk of getting infected with POS malware
- Cost of acquiring
- Problem of electricity distribution
These emerging technologies are already taking over the headlines and making waves across the world coupled with the benefit of the innovation, it is a wise option to secure a POS terminal for your business, in order to ensure business progress through customer satisfaction so as to get the Money you need and the cash out you deserve.