Anyone who runs a business, whether one that is of the bricks and mortar type or a webshop, will know how important it is to be able to accept every type of payment that their clients wish to use. Being unable to offer a specific payment type could mean the loss of a fair amount of revenue and future clients. For many businesses this can mean that they have to have several payment terminals, which end up costing them money and time. However, technology has advanced once again and has produced several new payment terminals that are easy to use and can accept multiple payment types.
- Counter terminals used to rely on a telephone line and could have quite a high monthly cost. In addition, if someone was making a payment, it not only took time to go through but it also tied up the telephone line, which meant that orders were potentially being lost several times a day. The new generation of counter terminals work on the basis of wireless internet technology so there is no need for a phone line, are incredibly economical and, best of all, fast. This is a benefit to both businesses and consumers and they are also fantastically easy to install and use.
- Mobile terminals have been around for a while now, but many businesses still choose not to use them because of the faults that they originally had. However, the improved mobile payment terminals work brilliantly and are simple to get started with. These work on the basis of a mobile signal so they no longer have connection issues and are perfect for companies that visit clients or attend shows and fairs.
- Anyone who has a webshop will know that they have a choice of whether to use a physical payment terminal or an ‘internet till’. The internet till is basically a virtual payment terminal that allows them to process payments via the internet and a computer. There are many benefits of this type of payment terminal, as, often, the costs can be much lower. They do take a little more instruction to use, although, once you get the hang of it, you will never look back.
- Many companies rely on data from their clients’ purchases to plan promotions and know which stock they need to re-order and what their best sellers are. Often they rely on a complicated computer system to tell them this information, which can be costly to install and time consuming to train their employees on how to use it. A polled payment terminal will take away the need for a computer as it can send all of the data that it stores to a central point in the format specified when it is set up.
- Everyone is aware of credit card fraud and the steps that they need to take to reduce the risk of it. Consumers are no longer happy to allow a waiter or waitress to take their card off to process the payment for their dinner and often insist on accompanying them. A portable terminal solves this problem. It is connected to a main terminal and can be used within a specified radius, which shows transparency and reassures the customer.
Carter Pelley works as an advisor for one of the biggest credit card companies in Europe and he specializes in developing payment terminals (in Norway we use the term betalingsløsning) that are easy to operate.