With so many options available, it is essential to carefully consider hardware and software features that will benefit your business now and future proof your point-of-sale experience. The key to buying the perfect machine is knowing what you need from it, so we’ve put together these six POS essentials to consider:
1. Ease of use and richness of features
There are a variety of portable point-of-sale (POS) systems on the market today. Some include a touchscreen, high portability, digital menus, base stations, contactless card options, and more.
The best POS system will come with all the tools you need to grow your business, such as customisable insights and app integrations. Trust Payments’ POS terminals have smart ways to pay, including Apple Pay, Samsung and Google Pay, touch screen displays, in-built Thermal Printer and also facility to connect via WiFi or SIM card enabling you to take payments on the go or remotely at table.
Ease of setup and customisation is at the forefront of functionality for a POS device. Alongside ease of setup, payment speed is essential - the quicker your customers make a payment, the better their experience in your venue. Hence having a POS terminal integrated with one of our partners’ ePOS systems is paramount for both speed and security. Trust Payments integrates with the main platforms that restaurants and hotels use in Malta like Oracle, Ericsoft and Busy Rooms to name a few.
2. Adaptability and affordability
As you are determining how you will use the POS machine, look for payment solution providers that can support your growing business with flexible contracts, no setup fees and affordable rates.
Additionally, whether your business takes card payments in person, online or over the phone, using an Omni-Channel Solution will give you in-depth data with reporting, key performance indicators (KPIs), and the more common sales reports. Our Enterprise Merchant Portal will ensure real-time access to all your online, mobile and point of sale payment transactions without any added fees.
3. Security and cross-device compatibility
Security is paramount to consider next. Fraudulent transactions can cost your business thousands in lost revenue. Oversight is critical here - you need a solution to keep track of all money in one place and check transactions in real-time.
Your POS system and POS machine should also be compliant with the data security standards established by the PCI Security Standards Council. Look for something that encrypts payment data and can accept EMV cards. An accessible and easy to use point-of-sale software helps ensure that your sales are organised efficiently and that your customers don’t have to navigate complicated menus to complete their transactions — something that can be quite the task these days.
Look for something that can keep your orders and receipts well organised, showing you all the necessary information for your businesses to be efficient.
Reconciliating sales carried out by cards at times is also a headache. For those who are always busy, receiving daily statements by email is a key factor to keep track of all your sales, funds settled into your account, without the need to either wait for statements to reach you by mail or log into systems wasting valuable time to download your statements.
4. Dedicated local support
24/7 support is ideal, which is why we at Trust Payments offer customer assistance at any time of the day for any technical issues with their POS machine over the phone. We also have a local dedicated and passionate team in Malta and advise companies to take advantage of our online training content for their POS machine - well-trained staff make all the difference.
5. Cloud-based vs on-site
POS systems have two main options for storing data: cloud-based and onsite.
An onsite system is the traditional POS environment. It’s a combination of hardware and software present on onsite devices such as computers, registers and barcode scanners. Onsite systems are managed via local servers and require ongoing IT management.
A cloud-based system is far more beneficial for modern businesses - bars, cafes and restaurants - due to its crucial mobile aspect: it stores your data in the cloud, which can be accessed anywhere via any device. Data secured on the cloud is encrypted, and the system service provider’s responsibility is to invest in security far beyond the means of an onsite system.
6. Dynamic Currency Conversion and Amex for international travellers
As Malta opens its doors again for tourism, it is important to offer travellers the choice to pay in their home currency or in their preferred payment type at the point of sale. Look out for a provider such as Trust Payments which allows you to accept Amex, and enables you to offer Dynamic Currency Conversion. Not only is this convenient and transparent for your customer, but you can earn a revenue share in the exchange made on such transactions which otherwise would have been earned by the card schemes and the issuer of that particular card.
What’s coming next?
The physical and digital boundaries of POS machines are continuously tested. We have noticed a significant increase in mobile and tablet POS payments during the pandemic and many people are more willing to pay digitally since the first lockdown.
Leveraging technology is crucial for the evolution of POS systems and POS machines. We predict businesses will be integrating Artificial Intelligence more into their systems for specific purposes such as reminders to fulfil an order or replenish stock, notifying them about evolving customer behaviour, alerts for new customer trends or promotions suggestions. Complementing AI with intelligent use of realtime customer data, the future of POS systems involves instant access to rich consumer data and robust analytics for hospitality businesses. This way, they will easily make data-based business decisions such as quickly identifying peak hours or items and services that are selling better than others.
For more information visit www.trustpayments.com