Four questions you need to ask before selecting a POS machine and other merchant services for your business
The list of things small business owners need to succeed at grows longer every day. Small wonder, considering how more people are turning to entrepreneurship. As competition grows so does the list of things you need to do to stay ahead of the rest. But before you get caught up in all of that, it’s equally crucial that you make sure that you have the basics covered, because often it’s the basics that make the difference between the stagnating start-ups and the businesses that grow in leaps and bounds.
One essential that can easily become an afterthought is having the right merchant service in place in your business, but nothing can be more important than how you intend to take payments from customers. Transacting in cash is convenient but not always possible, so you need to prepare your business to accept any kind of payment. But with so many merchant services available, how do you determine which one is the best for your business? There’s a lot to consider, but we’ve narrowed it down to four main questions that you should have answers to before you decide:
Can the merchant device cater to your business’ function and your customers’ needs?
You know your business better than anyone else and therefore you should also know your customers better than anyone else. Listen to the needs and requests of your customers to help inform your choice of merchant service.
If you’re a mobile business owner you can’t exactly travel with a whole point-of-sale system and sending out and chasing down invoices can often be unnecessarily taxing. If you’re not willing to trade within the limits of cash you should probably consider a mobile point-of-sale (mPOS) solution like Paycorp’s ZipZap. The device is completely wireless, relying solely on a secure internet connection to carry out transactions and you can start accepting payments – through your smartphone or tablet – wherever you happen to take your business within a few days of placing your order.
Will the technology keep your customers’ payment data secure?
Convenience and security are the two most important things to consider when offering your customers a payment solution. One should never exist without the other.
At the end of last year, the South African Banking Risk Information Centre (SABRIC) published its annual card fraud statistics, showing a 28.6% drop in credit fraud from the previous year, but an 8.3% increase in debit card fraud in the same time period.
You need to make your consumers as comfortable as possible so that they are willing to give you their money. Employing POS devices that adhere to industry security standards will promote customer trust while positively contributing to your growth. Paycorp’s payment solutions are all adherent to the strictest PCI standards, guaranteeing your customers a secure buying experience.
Is the system user-friendly and reliable?
Reliability is essential – if your payment system doesn’t always work, you can’t always take payment. Having a merchant device that constantly malfunctions is very close to not having a merchant device at all. Unreliable machines will irk your customers and stall business operations, which, over time, might become devastating to your growth.
Another key aspect of a worthwhile POS device is usability. You and your staff should be well-versed in the operating system that comes with the merchant service and be able to navigate your way around it with ease. If the way the POS machine works isn’t intuitive and user-friendly, it will automatically be ineffectual towards helping you run your business better. At Paycorp, we provide the very best POS technology with products that are always stable and easy to use. We also provide user manuals and have a support centre to help at any time.
What sets it apart from everything else on the market?
Currently, merchant services are a dime a dozen on the market. Which is why choosing the right one for your business takes a lot more scrutiny than just picking the cheapest. Instead, you should look for capabilities and features that enhance the business strategy you already have in place and that will give you return on investment.
Maybe you want a POS device that isn’t tethered to a power outlet so you should add wireless capabilities to your rubric of criteria. Whatever you look for, it’s important that it adds value to your business and gives you a bit of a competitive advantage.
Paycorp’s point-of-sale product range is equipped with the tools and technology to handle any business’ merchant service needs. Download our brochure and see what we have on offer.