Your point of sale (POS) is a major artery to your business’s function. The recent blow-up of POS options on the market, on one hand means you are actually burdened with a range of choice, and on the other hand you have more tools than ever to streamline business tasks. This naturally leads business owners to ask: is it really worth it to change over to a new POS? Here are a few reasons to realistically consider switching.
The latest POS terminals, in a word, are smarter. As merchants and consumers go all-in in adopting new technology, you have an easier time than ever before to gain insight into the goings-on of your business. With robust, customizable data mining opportunities, a new POS means that you’ll be more able to manage the supply chain, understand and cater to ever-evolving customer preference, and generally, just make more informed decisions. If this is you, the Poynt POS, which you can get free by signing up for a dedicated merchant account from Moolah, is a great way to go.
We can all relate to this one. A great example of one such payment option that is building in popularity at runaway pace is NFC, or Near-field communication, payments, such as Apple or Samsung Pay. Depending on the type of business you run, it’s likely that you have customers even now that would be happy to see you accepting NFC. You’re going to see this number skyrocket over the next 5 years, so the time to start thinking about a payment system that offers NFC technology is now.
Expectations change. An especially acute example of this is EMV. While the average consumer is relatively indifferent to the newly mandated chip technology, perception is rapidly changing toward accepting this new safety standard as the norm. In the next few years—or sooner—if you’re not on board with EMV, and NFC payments as well, you may begin feeling the pinch from negative customer perception.
In the same vein, the payment industry, to the extent that software innovation is outpacing hardware innovation, is only going to get progressively more disrupted as tech companies continue to try and outdo each other. Having a payment processor that is up to the task of keeping its clients informed of all the great innovation that is vying for business adoption is probably the most important thing to consider as we move forward. This is exactly where Moolah (as well as Poynt POS) shine. Offering a range of partnerships, as well as Poynt’s community of developers that are all too eager to innovate, going with Moolah is an ideal way to guarantee that you and your business don’t get left in the dust.