Traditional credit card machines have done little more than processed payments for the last couple decades. Sure, you may be able to manually enter card data to take payments over the phone and you might be able to print Z reports to see your daily payment stats. But these features are limited. These old-school terminals certainly aren’t going to let you manage a loyalty program, download QuickBooks, or run marketing campaigns.
Smart terminals, on the other hand, include capabilities that go far beyond accepting payments. And because of that, they offer many distinct advantages over traditional POS terminals.
1. Apps marketplace
Download applications that help you run your business, like QuickBooks, time clocks, marketing apps, and so much more. The opportunities are endless.
Smart terminals also work as POS systems. Because they’re reasonably priced, especially if you rent, they make an excellent option for small and mid-sized merchants that aren’t ready for a full-fledged point-of-sale software system.
3. Future-proof your business
The smart terminal runs on software that’s automatically updated. This ensures you get the latest software releases, apps, and capabilities, without having to invest in new hardware every couple of years.
4. Sleek, attractive design
Smart terminals, with their colourful displays and touchscreens, are a lot better looking than their traditional counterparts, that’s for sure. Some even let you add moving-image advertising to the screen.
5. Better customer experience
Smart payment terminals process payments faster, allow customers to pay with their preferred payment methods, can be used remotely to reach customers beyond the checkout line, and are user friendly, offering customers a better experience overall than traditional terminals.
6. Streamlined reconciliation
This is arguably the benefit business owners love most. You’ll never have to chase down paper receipts again with a smart terminal. You’ll never have to worry about your employees losing receipts on shift, ultimately causing you more stress and headaches.
That’s because this smart device stores all your receipts digitally. Just go into the terminal or log into your portal via any device to get a copy of your missing receipt. Think about how much time you can save!
7. Reduce your paper use
Tired of constantly ordering more receipt paper? Smart terminals enable you to email or text receipts to customers, so you can reduce your paper use. Plus, because you can reprint receipts directly at the terminal at any time, you’ll spend a lot less time searching months of bulky receipt records.
8. Improve transparency
Some smart terminals like Poynt come with dual screens, so customers can keep track of items as you scan them. Pretty cool, right?
9. Improve customization
Want to change the phone number or company name at the top of receipts? No problem. Want to activate a feature like tap and go? No worries. Want to add your brand name and logo to the screen? Done. It’s easier than ever to customize a smart terminal on your own.
10. Better peripheral and software integration
Smart terminals easily integrate various software programs, and the devices come with a wide range of peripherals, like cash registers, bar code scanners, and printers.
11. Better reporting
Many business owners would agree that one of the top benefits of smart terminals is their ability to show key financial indicators, such as net revenue, refunds, gross sales, top-selling items, and even total tips collected. With this kind of financial data, it’s easier to make more informed business decisions.
The advent of the smart terminal has taken payment technology into the future. Point-of-sale terminals will only continue to get smarter, cooler, and more powerful from here.