It is essential for every business person to know the importance of a POS machine for their business. It has become a basic necessity for any business that is looking to streamline its services and add an extra layer of security to its cash counter.
So, it’s no longer a question of if you should buy a card swiping machine or not. Or even why you need it. It is now all about when you buy it and how to choose the right one.
But just in case you are in a dilemma, here are a few reasons why a card swipe machine is so important
- You will need a way to accept payments from your customers: right now, cashless is the way to go. It is convenient and safe from COVID-19.
- Running a business is no longer what it used to be; the dynamics have really changed so, using a cash register, guesswork, or pen and paper does not work anymore.
- It is accurate, so no errors.
- It is fast, saving you a lot of time.
- It makes your work easier: A POS system does all the heavy lifting for you. It records your inventory, sales, stores customer data, generates reports, etc.
The list goes on and on. The bottom line is, a card swiping machine minimizes errors, boosts your sales, ultimately increasing your profits. Without profits, you have no business being in business.
That said. There are several types of swipe machines, and they all have something different to offer. But, there’s what your business needs to run efficiently, and not all POS machines can provide that. Your goal is to find the option that best suits your needs to maximize your advantage.
And how will you achieve that?
Here are a few things to look out for when buying a wifi swipe machine.
Traditionally, business was not as competitive as it is right now. Things have changed. Nowadays, customers have multiple options to choose from, so if you can’t provide them ease and convenience, they move on to someone who can.
To stay ahead of your competition in such a market, you have to be the best. That means providing what the customer needs, when, how, and where they need it at the right price. Sometimes that may involve going to the customer instead of them coming to you.
When buying a swipe machine, think about flexibility and mobility. A bulky POS machine that requires a wired connection to operate will limit your movement. However, a Wi-Fi swipe machine would be the perfect choice in this case.
Ease of Use
If something is not easy to use, you can be sure to spend more time on tasks. The speed increases as it gets easier to use.
The problem is that modern customers are time-bound and will not wait in line for long to buy from you. If your system fails, in just less than 5 minutes, 50% of your customers will abandon their purchase and look for someone who will serve them faster. In 10 minutes, you might not have anyone in the queue. In the process, you might lose some of your customers permanently.
Your ideal swipe machine should be easy to set up and navigate. There should be no need for training for anyone with basic computer skills. It should be fast and highly integrable with your other business functions. Some of the features that would make it easy to use a swipe machine include,
- A CCTV camera
- Compatibility to printer
- Customization options etc
We all love a good bargain, and this is no exception.
Once you buy the actual machine, several additional credit card swipe charges may apply to maintain your service. Some of these charges are a one-time fee; others are monthly, yearly, etc. It will all depend on your service provider. When buying your card swiping machine, make sure you read and understand your contract before signing. Also, make sure to compare between several providers to land yourself the best deal available.
Having a swipe machine is crucial for your business to thrive. But the power to unleash that lies in your ability to identify that specific POS machine uniquely suited for your business. These and many more are the things you must consider to do it right.
Smriti Jain is the owner and senior content publisher at Financesmarti. Financesmarti is a website where she shares a lot of useful stuff for the people and business of India. This includes small business ideas and other banking information, as well. Smriti completed her education in science & technology from Delhi University. Smriti usually has interests in digital marketing now, and she has chosen this career for the full-time opportunity. The primary purpose of starting this blog to provide quality information on the banking industry to the people.