The Benefits of POS Terminals for Small Businesses
The Benefits of POS Terminals for Small Businesses is something Card Cutters understands, being a small business ourselves, we can provide you with all the guidance you will need to set up your business for accepting card payments.
By working with us we can take you through the step by step process needed to get you up and running and securing payments straight away from your customers, reducing the need to take cash and cheques to the bank.
In this week’s update, we discuss some of the main reasons that accepting card payments with Card Cutters could help you to further grow your business.
Encourage Your Customers to Spend More
Like for any business, the need to make a sustainable profit is why we do business. But when you are a small business the need to receive money from your customers is high on your list of priorities to manage your income and expenditure well. By adapting your business to make sure you are using the latest technology to help streamline your finances can be easily adopted through the use of POS Terminals.
Having a cash-only business can sometimes be a hindrance when collecting money from your customers, many of us see handing over amounts of money as insecure with no means of auditing the transaction. But when a customer is paying by card, they feel safer in the knowledge that there is an audit trail of where their money has gone when it leaves their bank account, it can be easily accounted for.
It is also a known fact that when customers pay by card they are more susceptible to buying extra goods and services from you as there isn’t the worry of not having enough cash to hand.
Appeal to a Wider Range of Customers
Different types of customers will favour different types of payment, by your business having card payments as an option you are opening yourself up to a wealth of new customers. In today’s cashless society more people than ever or paying by card rather than carrying money, in particular, the younger, tech-savvy customer.
Are you missing out on new business opportunities by having a cash-only sales focus?
Become More Secure
Security is a major reason why lots of people don’t like carrying around cash. Whilst there are security issues when it comes to paying by card, a business can always protect themselves and their customers with the appropriate compliance regulations to ensure the safety of virtual payments by card.
Having large sums of cash at your business location can offer a myriad of security issues for yourself and your customers that cannot be traced.
The increased and varied protections that are available via card payments are also incredibly helpful, both to customers and to the businesses themselves.
Save Yourself and Customers Precious Time
Benefits of POS Terminals for small businesses are that you can also have peace of mind that you are saving yourself and your customers precious time.
The customer will not need to think about going to a bank machine for their purchase from you and the updates to payments technology and the use of Contactless Payments can also speed up the time paying by card at the time of purchase.
For you, as a Small Business owner, you can save time in the daily accounting ritual making your end of the day much quicker. You will not be required to visit the bank to deposit your takings as often and your admin can be reduced through printing your daily transactions from the card machine itself.
It is now getting quicker than ever for your business bank account to process your customer’s money meaning you can increase your business bank balance a lot quicker.
Look out for more updates from Card Cutters on this and other topics in the future.