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Getting smart about payment terminals

MICHAEL AULT | April 15, 2021 | 360 views

For many years, payment terminals have been a vital tool for businesses that complete their customer transactions in-store. The familiar hand-held devices have reliably taken card payments and offered simple additional services like mobile phone top-ups, cashback or electronic tipping solutions.

However, with recent technical innovation, boosted by the urgency surrounding Covid-19, the humble payment terminal is shedding its hard exterior - no longer is it, as some would argue, simply a commoditised, hardware-based necessity. As many within the payments space have predicted, the payment terminal is truly becoming a digital enabler and vital pivot point of modernisation for any business that accepts electronic transactions.

The Android Operating System leads the way

Today, payment terminals come in many forms. Though the traditional, handheld counter-top devices remain, many businesses now use off-the-shelf smartphones or tablets enabled with SPOC and CPOC technology. 

Regardless of their physical form, truly modern payment terminals share a commonality – enhanced functionality which allows businesses to update and adapt quickly to changing performance, environments, and customer needs. 

The Android operating system has been at the centre of a latest wave of innovation, facilitating the rise of mobile payment devices - pushed hard by the likes of Visa - and supporting the budding versatilities presented by Open Banking and PSD2 initiatives. 



Combined, this new choice and flexibility has the potential to deliver significant advantages to businesses deploying Android point-of-sale (POS) solutions. These include integrated EPOS, strong authentication, and an array of alternative payment methods such as bank-to-bank payments, QR codes and even crypto currencies. 

It’s about more than being just Covid-ready

Getting the timing right to make adjustments and improvements is now a focus for businesses across the UK as we start to emerge from Covid-19 restrictions and resume face-to-face interactions. The conventional payment terminal can play a central part in engineering the essential adjustments needed to create a Covid-safe environment – the new £100 contactless limit being the most obvious example.

However, functionality provided by the latest payment terminals allows businesses to do more than just make their premises Covid-ready.

For more commercial gains, payment terminals running on the Android OS allow for this same POS functionality but combine it with other essential business systems such as stock management, visual itemisation, and centralised booking systems.

As well as providing greater visibility of a business’ health and finances, more information also means friction points such as wait times and queues in store can be better managed. More data about customer behaviour also makes the in-store experience more customisable, for example, businesses can use this data to identify their busiest periods, explore seasonal changes or test new product lines and structure their staff planning and stock levels accordingly.

Coupled with more vital operational efficiencies, payment terminals can allow for a speed and flexibility of payments that can directly enhance the bottom line.

As the pace in retail environments ramps up to match that of the pre-Covid days, meeting new customer expectations and new environmental changes will be critical in staying relevant. An ability to accept the latest types and methods of payment could actually play a part in helping a business survive through difficult economic times. 

Bolstering cash flow will also take on added importance as businesses rebuild. Payment terminals powered by better internet connections mean transactions are already faster, but internet speed alone is not enough. Today, terminals can be updated in ways that allow merchants to process those transactions faster still and get funds deposited into bank accounts in batches throughout the day, often completing within the hour.

Payment terminals and Big Data

With data becoming the bedrock of all modern businesses, it is the Android operating system’s ability to generate such an impressive wealth of data that adds to its compelling proposition. The value of Big Data and analytics to filter large volumes of information and uncover actionable insights is well known to the business world. Useable information can help leaders learn about their customers, make better decisions and, ultimately, produce more revenue. Customer data, for example, makes it possible for a business to learn about the buying behaviours of an individual customer or of defined customer segments.

When a business knows the time of day (or night) their customers shop and what type of purchases they make, it becomes easier to plan when inventories are stocked and with what items. Android payment terminals can provide data in a way that offers easy visibility of key trends and which specific hours of the day produce the most sales, allowing businesses to investigate possible reasons and react accordingly.

Such knowledge can then be used for a variety of purposes including the ability to upsell to future customers with greater success and the tactical arrangement of items in store. Crucially now, it will also enable businesses to maintain a Covid-safe environment by planning ahead for in-store activity and capacity limits.

With hundreds of applications already available to download from the app store, it’s important that SMEs are able to use this scale of choice to their advantage rather than become overwhelmed or distracted by it. Indeed, by taking the time to explore the apps available, smaller businesses can find the tools which allow them to level the playing field by bringing their operational efficiencies in line with larger brands and by leveraging the solutions that allow them to compete on customer service.

Spotlight

GittiGidiyor

GittiGidiyor about Founded in 2001 and Turkey's first online marketplace GittiGidiyor that in 2011, global e-commerce giant's leading position in the industry after entering further strengthened under the umbrella of eBay. Monthly average of 83 million visits, with about 22 million registered members of Turkey's most preferred shopping sites with GittiGidiyor.

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Tasker Payment Gateways LLC Celebrates 8 Years of BBB Accreditation and an A+ Rating

PRnewswire | May 26, 2023

For 20 years, Tasker Payment Gateways LLC has been a reliable partner for high-risk e-commerce businesses, offering payment gateway integrations and merchant account recommendations to USA-based tactical, premium cigar, vape, pipes and glass, indie video game makers, and other websites that struggle to find reliable credit cards processing. Despite the challenges faced in the high-risk payment processing industry, the company has maintained a flawless A+ rating with the BBB for the past 8 years, along with zero customer complaints and a top rating on TrustPilot. Matt Tasker, president of Tasker Payment Gateways, attributes this success to the company's focus on building solid relationships: "We recognize that high-risk payment processing can be intricate and involve many moving parts. From assisting vape merchants with in-person delivery payments to helping businesses accept credit cards for Farm-Bill-compliant cannabis seeds online, our dedicated independent agents invest time in understanding each client's unique needs and providing personalized support throughout the process. Our commitment is to make payment processing seamless and stress-free for our clients." Tasker Payment Gateways LLC's impeccable track record includes zero customer complaints, zero negative reviews, a 100 percent customer loyalty score with the BBB, and all positive reviews on TrustPilot.com. The company's success is rooted in its dedication to understanding high-risk websites' priorities and finding innovative solutions to overcome payment processing challenges. A key concern for many merchants is the ability to use their preferred site builder. Tasker Payment Gateways LLC caters to high-risk merchants using popular site builders like Shopify and WooCommerce, offering compatible payment processing solutions. They have also developed high-risk payment gateway guides for other site builders and shopping carts, such as Squarespace, Wix, Weebly, and GoDaddy, enabling merchants to maintain their current website builder and still accept credit cards. E-commerce businesses value the technical assistance with payment processing setup and the prompt, personalized service received from Tasker Payment Gateways LLC's dedicated independent agents. In a BBB review, a pipe and bong website owner expressed gratitude for the swift and hassle-free credit card processing, stating, "Tasker Payment Gateways LLC pulled my online small business out of the fire within 2-3 Days! He {my rep} offered me unparalleled effort, honesty, and kindness while also solving all of the payment gateway issues for my functional glass business." A TrustPilot review states, "As a new small business owner 4 years ago, I wasn't fully aware of gateways and processors. Our business was even more complex as tobacco accessories are regulated as a high-risk vendor. I was so fortunate to find {our new account rep at TaskerPaymentGateways}. He took time to educate me and got our business up and running." High-risk online merchants often struggle to find payment processors willing to work with them. Legal yet high-risk products are often restricted by major payment gateway brands like Stripe and PayPal, which power many shopping carts under different names. As a result, websites selling items like CBD, pipes and glass, alcohol, premium cigars, tactical items, or FFL transfers online are at risk of having their payment processing shut down if they use the built-in payment gateway that comes with their shopping cart. Tasker Payment Gateways offers payment gateway integrations and, crucially, recommends a compatible merchant account tailored to the specific products being sold, ensuring merchants won't face shutdowns due to their product type. Matt Tasker states, "Over the past two decades, we have been fortunate to build many trusted relationships within the e-commerce industry. Our goal is to continue operating with integrity, transparency and a customer-first approach, regardless of whether or not a partnership results. We strive to offer tailored guidance and support for business owners seeking solutions for accepting credit card payments for higher-risk products. One terrific thing about us is that our recommendations come at no direct cost because we are compensated through our network of trusted partners and providers." About Tasker Payment Gateways LLC Tasker Payment Gateways LLC is an e-commerce service company that strives to help whether you are a small business looking to learn about chargeback mitigation, or a well-seasoned internet guru looking for the best payment gateway and merchant account recommendation for your regulated product or service.We pride ourselves on being the only place you need to be when looking for a way to take and manage payments online and offer the most popular payment gateways, e-commerce services, merchant account recommendations, and chargeback mitigation products available.

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RESTAURANT POS

SkyTab POS Integrates with OpenTable to Streamline Restaurant Operations & Enhance Reporting

Businesswire | May 25, 2023

Shift4 the leader in integrated commerce technology, and OpenTable, a global leader in restaurant technology, today announced an integration that allows restaurant operators to combine OpenTable’s diner booking data with spending data captured at the point-of-sale by Shift4’s SkyTab POS system. This integration gives restaurants a more holistic view of their business performance to make smarter decisions about how to increase revenues and reduce costs. “Our collaboration with OpenTable provides restaurateurs an easy way to improve their top and bottom lines while learning more about their customers so that they can enhance the dining experience,” said Shift4 Chief Technology Officer Mike Russo. The Shift4-OpenTable integration allows restaurant operators to quickly identify which guests are new, regulars, or top spenders and then use this information to celebrate their most valued guests and go the extra mile to turn new guests into repeat customers. In addition, real-time insights including when guests are seated and which course they’re on helps minimize wait times and improve table turnover rates. “At OpenTable, we’re always looking for ways to empower our restaurant customers, create efficiencies and streamline operations, which is why we’re thrilled to integrate with Shift4,” said Susan Lee, Chief Growth Officer at OpenTable. “This partnership will provide our restaurant customers with a more comprehensive business view, enabling them to make smarter business decisions.” OpenTable is now available in Shift4’s Marketplace, an end-to-end ecosystem that seamlessly connects restaurants and other businesses with numerous third-party applications, including solutions for online ordering, online reservations, employee scheduling, accounting, loyalty, marketing, and more. About OpenTable OpenTable, a global leader in restaurant tech and part of Booking Holdings, Inc. (NASDAQ:BKNG), connects more than 1.5 billion people with restaurants every year. Powering hospitality at more than 55,000 restaurants, bars, wineries, and other venues globally, OpenTable drives reservations, experiences, payments, guest insights and operations, enabling restaurants to run their most successful business yet. About Shift4 Shift4 is boldly redefining commerce by simplifying complex payments ecosystems across the world. As the leader in commerce-enabling technology, Shift4 powers billions of transactions annually for hundreds of thousands of businesses in virtually every industry.

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