How to Choose the Best EFTPOS Machine for Your Business
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An EFTPOS machine is used by businesses to allow customers to make card payments while buying something. It means the amount of money is moved directly from the customer’s account to yours, which is safer and saves time compared to carrying cash.
How an EFTPOS Machine Can Help Your Business
If you do not offer cards as a form of payment, you could be losing important customers. These days, convenience in paying is very important to customers and an EFTPOS machine helps provide this. It helps establish trust, hastens transaction times, and minimizes the chances of mistakes, which businesses need.
Types of EFTPOS Machines Available
Start by finding out about the types of EFTPOS machines before you start shopping. Here’s a breakdown:
- Retailers can find fixed EFTPOS Terminals to be ideal for processing payments at the checkout.
- These machines are great for businesses such as delivery services, temporary set-ups, and those working outside.
- EFTPOS Machines – Get these machines integrated with your POS so you can track all transactions easily.
Countertop vs Mobile EFTPOS Machines
Using EFTPOS machines on counters is suitable for the traditional way of retailing. They stay in one spot and are connected to others over a wire. On the contrary, using Wi-Fi or mobile data, mobile EFTPOS machines allow your staff to process payments anywhere inside your business locale, or in certain areas outside it.
Key Features to Look For
Before choosing an EFTPOS machine, make sure to look at the following important characteristics:
- Tap and Go / Contactless Payments
- NFC & Chip Card Support
- Receipt Printing or Digital Receipts
- Multi-language Options
- Tipping Functionality
- Custom Branding Capabilities
The right features can improve the way your customers experience your site and also make your sales process more efficient.
Security Standards and Compliance
Security should never be compromised. Opt for a machine that is compatible with the PCI DSS, which is a data security standard. Keeping sensitive data protected is accomplished by using encryption, tokenization, and safe network links.
Connectivity and Network Options
Reliable connection is vital. EFTPOS machines can connect via:
- Ethernet (Wired)
- Wi-Fi
- 3G/4G Mobile Networks
Be sure that the EFTPOS machine fits well into your business surroundings. Cafes and outdoor events gain the most from having mobile connectivity.
Including EFTPOS with Point of Sale.
Smooth operations require integrated systems. If the EFTPOS machine is smart, it can connect with your POS, syncing sales, keeping track of inventory, and making reports. This helps to cut down on mistakes and improves the speed of work.
Ease of Use and Customer Experience
Opt for products that are easy to use, include touchscreens, and are designed well. A quick transaction for your customers results in greater satisfaction. Some machines are equipped with interfaces that help customers from different regions.
Costs and Fees to Consider
Be sure to calculate how much it will really cost you to get a car:
- Initial purchase or rental fees
- Transaction fees per sale
- Monthly service fees
- Maintenance or replacement charges
Make sure you evaluate different providers to see if you are getting a good deal.
Rental vs Purchase: What’s Better?
Purchasing an EFTPOS machine is a long-term option, but renting is better if your business changes or has seasons when it is busier. In many cases, rental gives business owners easy upkeep and improvements, so it is convenient for them.
Customer Support and Service
If your EFTPOS terminal isn’t working properly while there are many customers, what should you do? This is why companies need to provide timely and effective customer service. Be sure your service provider can help you anytime, offers remote assistance, and has backup equipment for you should yours ever fail.
Will the technology keep up as your business expands?
Your EFTPOS system should be flexible enough to adjust as your company gets bigger. Growing your business in more places or with additional products calls for scalable solutions that help your technology grow with you.
EFTPOS for Different Industries
Different industries have unique needs:
- Retail: Inventory sync and fast checkout
- Hospitality: Tips, split bills, table-side service
- Health & Wellness: Appointments, recurring payments
- Trades: Mobile invoicing, on-site payments
Go for a machine that suits your particular industry to get the best outcome.
Conclusion
It can be difficult to choose an EFTPOS machine, but when you have the right advice and organize your thoughts, you can pick one that helps your business, customers, and future plans. Think about your needs, check the main features, and decide on a choice that matches what you want.
FAQs
- Can I process payments with an EFTPOS machine without needing a POS system?
It is possible for standalone EFTPOS machines to process payments without relying on the POS, but better tracking can be found with a system that combines both.
- What should I do if the internet stops while I’m trying to purchase something?
If electricity is cut or the Internet goes down, a few EFTPOS devices have the option to still operate.
- Do every EFTPOS machine support the use of mobile wallets?
While many modern machines accept Apple Pay, Google Pay, and similar mobile wallets, you should still double-check the availability.
- Is it advisable for small businesses to use EFTPOS machines?
Absolutely. They make it easier to manage cash, speed up trading, and ensure a professional influence, even with small businesses.
- It usually takes a short amount of time to set up an EFTPOS machine.
Setting up the data integration usually takes from a few minutes to a couple of hours, based on the requirements.
Adrian Alatsas, head of consulting and advisory, Logicalis Asia Pacific
