POS: More Than Just A Swipe Machine


Chaitali Bhatia   | Director – Marketing Ezetap Mobile Solutions Pvt. Ltd.

Jun 08, 2022

POS- More Than Just A Card Swipe Machine
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Card payments have been around since the 1960s. The point-of-sale (POS) terminals that you see now, were once the space-consuming bulky machines at checkout counters. But, in the new tech age POS machines are sleeker, smarter and a powerful tool that allows merchants to scale their business efficiently. These POS machines do much more than only accepting swipe-based card payments. They accept all modes of payments including NFC, QR-based and remote payments via an app, and are future-ready for any emerging mode of payments too. Add to that the other value-added services and it becomes an end-to-end tool that can help merchants grow their business.

 

POS Terminals Tailored to Business Needs

 

The POS machines we see today have evolved. They are tailored to suit the needs of enterprises and organisations of different scales and experiences. The devices range from an mPoS terminal to an Android terminal with different battery lives, screen sizes, and many more features. A device can be chosen depending on the size, nature, and needs of the business. Some businesses may need to have payment devices integrated into kiosks while others would need a handy POS terminal for payment acceptance on delivery. The new range of POS machines has a compact and sleek body making them convenient to use for deliveries, or carry along all day long. Some POS machines come with printers for paper receipts while others are fully paperless offering an option of digital or e-receipts.

Furthermore, every device runs on an app, either in the device itself or via the smartphone, which allows the POS solution to do more than payments. Since it runs on the app, the Payment solution providers customise the features in the applications or tailor the entire solution to cater to other requirements of different organisations.

 

The Demand for Improved Payment Acceptance Solutions

 

The use of digital wallets, UPI, QR codes, and other online modes of payments increased after demonetisation and picked up even further during the pandemic. Affordable smartphones and easy access to the internet coupled with the safety concerns with exchanging cash, helped consumers to quickly adopt digital payment modes. So much so that the customers started demanding contactless or online modes of payments. 

Businesses and merchants were not fully equipped with the technology to accept such payments. But, as the demand from customers rose, they had to scale up/ evolve their payment acceptance solutions to not lose customers. Retailers had to work with different companies for different payment methods however, the solutions were disintegrated and inefficient. Thus, came the demand for a single platform of all-in-one acceptance that not only offered all payment methods including QR and remote-based payments but also integrated affordability solutions and digital khaata among others. 

 

Let us discuss some of the features that make it an improved payment acceptance solution:

  1. Acceptance of contactless payments 

  2. Quicker transactions  

  3. Paper-based or paperless devices with e-receipt options 

  4. Easy-to-use interface, with a compact structure for convenience

  5. Seamless end to end payment experience for customers bringing in loyalty and stickiness

  6. Anywhere business - carry the world of payments in your pocket as the new age PoS connects via W-Fi, Bluetooth, sim card, or a cord, and so it can be used anytime, anywhere.

 

 

What Makes Today’s POS Machines a Revolution for Retailers?

 

As discussed earlier, the device has transformed in more than one way - physical features, software-based capabilities, forms of payment acceptance, as well as solutions beyond payments. 

The PoS solutions today, including that of Ezetap, come equipped with some of the best value-added services that can help you enhance your business.

 

Auto Reconciliation

 

Automatic reconciliation eliminates error-prone manual reconciliation. The process is streamlined and faster and helps you to make your business operations efficient. 

 

Reports and Insights

 

With Ezetap’s smart POS machines, you get regular tailored reports with details of all your transactions. Now you get customer payment insights such as an understanding of preferred payment methods etc to help you make strategic decisions for your business.

 

Smart Charge Slips

 

This feature replaces the traditional paper receipts and sends the customer an e-receipt. With smart charge slips or e-receipts, your business need not save paper receipts and can directly engage with customers. 

 

Instant EMI and Buy Now Pay Later

 

Ezetap’s POS comes equipped with flexible EMI or BNPL schemes facilitated through banks, brands or leading NBFCs. Now get debit, credit or non-bank EMI. It accepts payments via cheque, bank transfer, or allows deduction from debit cards, or credit cards for such payment methods.

 

Digital Khaata

 

Keeping your loyal customers was never this easy. Ezetap’s POS machines come with digital khaata for retailers, which helps them maintain the digital record/entry of each credit sale. My Khaata feature allows you to see customer balances, transaction history, and even accept SMS-based payment to accept the payment for the khaata account.

The new-age POS machines are redefining payments and customer experiences while helping businesses scale sustainably. This is why they have become an integral part of many businesses today. From just a device for accepting cards, they have evolved to become a comprehensive tech tool for small and large businesses helping them streamline operations like never before. 

Ezetap offers tailored POS solutions for every business and organisation. Connect with us to know how we can transform your payment processes with our POS solutions.

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