What you need to know about POS credit card processing

Technology is transforming the point of sale—definitely for the better. Today’s point of sale (POS) systems are light years removed from cash registers of the past. POS credit card processing is easier than ever, but you’ll want to become familiar with the latest in what’s available before diving in.

So, let’s catch up on what’s new. Here’s a brief introduction to point of sale credit card processing:

A new era for POS credit card processing equipment

If you run a physical store location, you’ll need the right equipment to accept credit cards, debit cards, digital wallets and other forms of payment.

Credit card terminals are the most familiar and longest-standing forms of retail payment acceptance. Credit card terminals are easy to use both for your staff and your customers. Yet even these “simple” credit card terminals are smarter than ever.

The majority of credit card terminals issued support secure transactions such as EMV “chip card” technology. Today, smart credit card terminals include NFC (near-field communications) technology that accept contactless payments and mobile wallets such as Apple Pay, Google Pay, and Samsung Pay.

Credit card terminals can provide a simple and reliable way to accept credit cards at the point of sale. The primary function of a standalone terminal is to accept card payments. For value-added solutions that provide additional benefits beyond processing such as, payroll management, loyalty programs and more, you’ll want to look to a fully integrated POS system.

A fully integrated POS system is engineered so you can operate your business more efficiently, both on the front end and back office. Often sleek and powerful with full-screen graphical interfaces, integrated POS systems are easy to use.

At the point of sale, faster checkout frees you and your staff to spend more time attending to the needs of customers. When it’s time to manage back-office tasks, integrated POS systems offer a wealth of businesses productivity tools including direct reporting, inventory tracking, and employee scheduling features.

POS systems are rich in features, but they typically cost a bit more than a standalone terminal. Fully integrated POS systems aren’t right for every business when starting out. But for those ready to take the plunge, a wide variety of integrated systems are available, often designed specifically for the needs of industries just like yours.

Mobile acceptance solutions are the newest entry to the world of POS credit card processing. Mobile acceptance allows you to take payments using just a smartphone and a card reader. Apps and attachments like secure credit card readers make the point of sale wherever you want it to be.

Mobile acceptance solutions let you accept credit cards anywhere: a flea market, house call, client visit or letting your staff meet your customers where they are within your store. Mobile payment systems are best known for business on-the-go. Yet the simple act of freeing the point of sale from the register is transforming in-store checkout as well.

POS credit card processing that keeps your business safe

Accepting credit cards and other forms of payment requires a team behind you that understands the technologies and processes of today’s world of payments.

That’s where the selection of a credit card processor becomes important. When it comes to security, payment fraud and data breaches remain in the headlines, making payment security an essential part of any business plan. There have been great advances in securing POS credit card processing with the widespread adoption of EMV technology, commonly known as “chip cards.”

You don’t need to become an expert in payment security to start accepting credit cards. But you will want to work with a payment partner that’s a proven leader in payment security. Today, leading experts in machine learning and artificial intelligence are hard at work on the cutting edge of technology to help businesses stay safe from fraud.

When it comes time to start accepting credit card payments, connect with us. We’ll take the time to learn about how your business works today, and how you want it to work as you grow. We’ll help you find a POS credit card processing system customized to your business needs.