One of the ways to have returning and satisfied customers is to provide them with a fast, information filled option for paying for the chosen goods. To do so you need to pick the right EFTPOS terminal as, according to recent statistics, it is the most used payment system in Australia. In fact, about 83% of the debit card transactions are handled in this way. Hence, if you want to provide your customers with the best service possible, here is what you need to know about EFTPOS.
General Information about EFTPOS
The EFTPOS is an acronym for Electronic Funds Transfer at Point of Sale and enables online transactions by processing them on the spot. Even though all the customers hear at the moment of paying is just a beep, the EFTPOS terminal reads the card, encrypts and transmits the data via telephone lines, makes an authorisation transfers between banks and prints out a receipt. In just a few seconds, the terminal communicates with the customer’s bank, the merchant’s bank and the authorising banks.
Benefits of using EFTPOS terminals
When there is such an advanced payment system, your business can really take the advantages of lower risk of theft, faster transaction speed, proofs of payment and greater convenience. The convenience part is even greater for the customers as they don’t need to carry a lot of cash to do their shopping – they just need to have their card on them. Contrary to the old-fashioned ways of manually preparing a receipt, this new and modern payment system leaves no place for errors, both deliberate and not.
The functionality of EFTPOS terminals
The EFTPOS terminals function very simply. They need POS rolls, thermal or bond, internet or telephone connection and a cashier to operate it. POS rolls are put inside the terminal and are used as a receipt. The thermal POS rolls have a thermal coating which activates when it is being printed. The bond POS rolls don’t have a thermal coating and they are very similar to the standard copy paper and are often used for duplicate and triplicate copies as they come in 1, 2and 3 plies.
The Most Important Features
If you are in the middle of choosing a suitable EFTPOS terminal, here is to pay attention to.
- Find one which will integrate with your point of sale providing organisation and competency.
- Find one which will be easy to use for all the employees.
- Find one which is fast because none of your customers will appreciate delays and slow queue movement.
- Find one which can be moved because customers would prefer to use the terminal at their table (at the hospitality industry)
- Find one which can work with multiple cards
- Find one which offers confidentiality and security
The Bottom Line
It is always important to invest in high-quality tools which are guaranteed to last. Plus, they must answer to busy workdays, where they need to operate non-stop, especially in the retail industry. Providing the customer with instant information about their purchase is what makes your service even better and EFTPOS are just the right tool to help you make the new customers returning customers.
