Gone are the days when your customers would always carry cash in their wallet. Today, they prefer digital money/wallets, debit/credit cards and other online tools to make payment for all purchases. Hygiene issues around COVID-19 only bolstered the use of digital payments. This massive change in consumer behaviour makes POS machines a great tool for every retail store/organisation looking to accept various forms of digital payments today. And if consumers prefer digital payments, then the merchants need to find ways to accept such modes of payment. 

As customers ditch cash and adopt digital payment methods to pay for goods and services, companies must adapt to the changing times and equip their business with the latest payment gateway technologies. 

From providing flexible payment options to customers to helping you upsell via EMI, POS is a handy end-to-end tool for payment acceptance. There are multiple other benefits to a POS machine such as flexible payment options, higher sales, streamlined payment processes, a perfect customer experience, reduced pressure on the cashier, reduced cash handling and opportunities to upsell via EMI.

While we have established the benefits of a swipe machine, it is, however, important to note that not all POS terminals are equipped with end-to-end services. That makes it imperative to talk about the importance of buying the right POS machine. 

Let’s say, you buy a device, which does not accept American Express cards. But, your customer only has an American Express card to make the payment. Now, because your swiping machine does not accept that card, you lose a customer. 

So, what to consider when buying a POS machine?

Allow me to dish out some of the key elements you must bear in mind while buying this ultimate payment tool.

1. A Swipe Machine that Meets Your Business Need

Today, POS machines have evolved from traditional, bulky, wired GPRS machines into sleek, light, and faster models like mPOS, and Android POS. The new devices work via Bluetooth and /or wifi connectivity. There are various types of devices available that you can choose based on your specific payment needs. 

To accept payments at customers’ doorstep you need a light device with a SIM slot which the delivery boy can easily carry in his pocket, use the mobile data and accept payments anywhere.

2. Maximum Security

While purchasing a card swiping machine, you must focus on security because you cannot compromise with your customers’ data. Make sure that the swiping machine encrypts transaction details, and choose a device that is either PCI and/or EMV compliant.

3. A POS Device that Accepts All Types of Payment

A good POS machine would accept all forms of payments be it via magnetic stripe cards, chip cards (contactless payment), QR codes, or SMS. Hence, when you buy a POS machine, you must ensure it is upgraded with the latest technology to accept all forms of payments including contactless and QR code payments. It should also be equipped to accept payment modes that may come in the future. The flexibility of payment options will be of great help, especially in the wake of the current pandemic, making it future proof. 

4. Connectivity Options

Connectivity is another important factor you must consider if you want to deliver a superior customer experience. A device with multiple connectivity options via Bluetooth, WiFi or 2G makes payments easy and quick. The device should be such that it works seamlessly in your specific environment, be it at the branch or at the customer's doorstep.

5. Portable POS Devices

Some devices are so bulky that it is nearly impractical to carry them around. A GPRS terminal limits your mobility due to wired connection and bulkiness. Smart Android machines are perfect for in-store queue busting experiences, as you can accept payments anywhere. Similarly, mPOS machines are pocket-friendly and offer flexible payment options. Thus, you can carry them around giving your customers the convenience of paying via card at the doorstep.

6. Card Swipe Machines with Longer Battery Life

There are a myriad of card swiping machines in the market today! The features vary—smooth UI, a large touchscreen, portability, or a seamless interface. While the aforementioned points are important, a longer battery life is necessary, especially if you offer door-to-door services. . If you are a logistics company or a retail store that provides a ‘Pay on Delivery’ option, go for a POS terminal that can function all day long once fully charged.

7. Ability to Print and/or Send e-Receipts

Once a transaction is complete, your customer prefers a copy of the receipt. Traditionally, only the print option was available and saving paper receipts became a challenge. So to be more environment-friendly you could choose card machines that offer digital charge slips. Receipts are a record of every transaction and meant for future reference, a digital record is secure, unerasable and saves the headache of keeping paper slips. More so, it can also help you receive instant feedback from customers.

8. Should Accept all Bank/Network Cards

Before you invest in a swiping machine, you must ensure it accepts a wide range of cards. It is pointless to buy a POS machine that restricts your payment acceptance from only one or two banks/networks. It is imperative that you provide your customers with the best payment experience. It is thus ideal that your swiping machine processes payments with Mastercard, Visa, American Express, and RuPay cards.

9. Option of EMI at POS Terminal

If you are in the business of selling high-priced products like luxury fashion, automobiles, etc., having a simplified affordability solution is paramount. Today, POS devices come equipped with EMI solutions, which allow you to convert any transaction into instant EMI via banks, brand offers and NBFCs. To add to that, being able to offer instant EMI at the customer’s doorstep is like a cherry on the cake.

10. Integrated POS Machine

Earlier, wired solutions ruled the market, but that led to long queues at the billing counter. Thus, new queue busting solutions have been devised, which are lightweight, sleek and Bluetooth-enabled. They are easy to carry across the store or for delivery. To keep a record of every transaction, the POS now comes integrated with multiple features. If you have a business with high queue-build-up issues at billing counters, you must look for an integrated POS solution. 

There are several POS devices available in the market. However, which card swipe machine fits your needs depends on the nature of your business and the features of the machine. The aforementioned points are some critical variables you can consider while buying a card machine.

Are you still confused as to which POS machine will benefit your business? Call us to know more about POS terminals and payment acceptance. At Ezetap, we offer a wide range of hardware solutions like mPOS and integrated Android POS machines. Being a leader in payments technology in India and the UAE, we can tailor the payment solution to your business needs and help you accept all types of digital payments via one interconnected system.