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Making the Change: When to Switch to a New POS

For a small business owner, the best time to spend money on new equipment can feel like…never. These things can be costly, and it can be hard to know what’s worth it. For many business owners, though, one of the best equipment decisions that you can make is the decision to invest in new POS equipment. Though this decision can be hard, we can help you figure out whether you need a new POS.

Payment Issues

There are some major payment issues that many businesses experience with their POS systems. These can include cards getting declined for no apparent reason, payment processing taking an excessively long time, screens freezing, and receipts taking too long to print. These kinds of issues can make the payment experience painful for customers and employees alike, slow down lines, and get in the way of your business. If you are dealing with any of these payment issues, you may want to consider upgrading your POS.

Security Concerns

If you are concerned about security, you may want to upgrade your POS. Older systems, which extend beyond POS tech, can be broken into, and have fewer safeguards for sensitive information. Newer systems, including those that accept EMV technology, significantly increase security, as well as other safeguards. Improving security is a great reason to upgrade your POS.

More Appeal to Customers

New POS software makes it possible to maintain customer information and use it to provide special promotional deals to customers. This is a great way to get customers coming back in. It also makes it possible for you to accept a wider variety of payments, such as NFC and mobile wallet payments, that are becoming more and more popular with buyers of all demographics. If you want to add to your customer appeal, then you may want to upgrade your POS.

But which POS?

Upgrading your POS isn’t as hard as you think. In fact, it is not nearly as expensive as you would think either, and the costs of upgrading can be offset by one instance of fraud, or by the increase in revenue from improving your customer satisfaction and options. You may want to start by talking to your payment processor about what kind of options they provide. At Moolah, we provide new customers with the Poynt Smart Terminal FREE of charge. It’s a wireless POS that streamlines the payment process and provides a variety of payment options to customers. With the Poynt Smart Terminal, you can accept NFC touchless payments, EMV chip cards, and any major credit and debit card. You also have a range of software options that can improve your experience and help you offer more to customers. It’s all part of Moolah’s commitment to small businesses and the future of payments.