Although customers go to brick-and-mortar stores for purchasing, bringing home their purchased goods may be a challenge for them. They have to physically approach a person at a cash register to pay for goods. It is the final yet necessary step to close a sale, making or break the business, especially for new and small businesses.
So, what essential for today’s businesses is Point of Sale (POS) systems. Having a reliable system helps small businesses efficiently manage their finances, track inventory, and enhance customer satisfaction. Nevertheless, the technological advancement has gave rise to Mobile Payment Solutions for POS, leading most small businesses to reap the key advantages a proper mobile-oriented POS system can offer.
Whether you have a big retail shop or are running a small, family-owned and operated business, keep reading this blog to learn how you can improve a customer’s experience and make the sale.
Pitfalls to Avoid
Let’s start with a hypothetical. You run a hip, fairly new bowling supplies boutique. As you sit at the cash register, a customer approaches with the newest high-performance ball. It took them quite some time to decide, they tell you, as your few employees were busy with other customers. You had to man the register. You apologize as they take out their credit card. It’s new, they say, pointing to the chip in the card.
They stare at the credit card reader, where you have taped over the EMV (Europay, Mastercard and Visa) chip reader slot and RFID (Radio Frequency Identification) technology with a hastily scrawled “Coming soon!” note. The note has remained there for more than six months. After a short, awkward exchange explaining it doesn’t work yet, they swipe their card and leave with their new bowling ball.
The next week, you find out there has been a hack in the credit card industry, and personal information and card numbers have been stolen. The customer comes back into the store with bad news. They only used that credit card here, and the card was used for fraud yesterday. You are now liable for the fraudulent purchases.
Upgrade Your Point of Sale System
The first major fix to this hypothetical story is your Point Of Sale Equipment. As of 2024, EMV chips and RFID have been adopted with a rapid pace. By 2022, these technologies have been equipped with around 100% of new credit cards issued in Europe. Although this transition in the U.S., has been slower, as of early this year, these technologies featured into about 90% of new credit cards. It indicates a meaningful progress in strengthening payment security throughout the country.
So, why bother upgrading to an expensive machine for less than half of your customers? As noted above, you, the merchant, are responsible for any loss due to fraud on EMV-enabled cards. While EMV-enabled readers can range from $49 to $600, the initial investment is well worth the insurance against paying out damages for fraud.
The EMV and RFID-enabled point-of-sale systems have become popular significantly. Although retailers were immensely pushed to upgrade their systems after the 2015 deadline, a considerable number still have not completely shifted to this technology. Today, retailers need to upgrade their point-of-sale systems for both compliance and improving security and consumer confidence. If you invest in EMV or RFID technology, it will be a hands-on step towards protecting your business and providing peace of mind for your customers.
Ensure a Smooth and Enjoyable Sales Process
Customers care about cashier politeness, bagging, and efficiency of line management as established by the research into the checkout experience in a grocery store. The research suggests that the POS For Small Businesses has become a necessity. This is universal to a retail experience. Be courteous despite how a customer acts. Others in line will appreciate the courtesy and likely be lenient towards you.
If possible, always have a register open for incoming customers. Being efficient improves customers’ morale and will make them more forgiving – more likely to purchase or return for more business in the future. Try not to take too long bagging an item – no one wants to be Alan Rickman in Love Actually, waiting multiple minutes while the item is gift-wrapped.
Ensure staff at the till are trained and know how to solve problems, rather than always requiring the manager or owner. This will drastically cut downtime, letting the customer make their purchase and get on with their lives.
To cut even further on downtime, make sure you always have supplies at hand rather than in a back room. Use a small storage locker at the checkout area to store rolls of receipt paper, pens, notepads, or any other supplies you might need. Add a lock to ensure your extra supplies are safe.
Enhance Mobile Sales Engagement
While it seems to contradict the previous point, don’t hide from you customers. Get up and move around. New technology allows for mobile POS machines, allowing you to walk around the store and help guests as they browse, rather than waiting for them to approach the register. If you carry bags with you, they can pay anywhere in the store, improving your efficiency even further. If your products allow, you can take to the streets, selling outside the shop.
Being mobile, however, can be a double-edged sword. While you can and should walk around, don’t bother the customers by hovering over them. They will feel the eyes on the back of their head, fraying their nerves and potentially dropping a sale. Be available, but not a shadow.
Wrapping Up
Modern businesses seeking to improve customer experience, simplify operations, and protect against fraud need to upgrade to a cutting-edge Point of Sale (POS) system. As EMV and RFID technology has become the norm for retailers and other customer-centric establishments, investing in an EMV and RFID-enabled POS system ensures your business complies with the rules and regulations and your customers’ security and satisfaction.
Ready to enhance your business protection and customer satisfaction? Upgraded POS installation is necessary. Contact Main Street Inc. to stay ahead of the game and ensure your business prospers.