Although it is often seen as a casual outing, shopping always has the potential to be one of the most grueling undertakings. Even the most discerning and prepared consumers can suffer from long wait times and poor inventory, particularly if a store isn’t prepared for a rush.
This is especially true during the autumn months when peak hours are consistently packed with eager customers. If it’s not back-to-school shopping that has driven someone to the mall, it’s preparation for Thanksgiving or Halloween that has them shopping until they drop.
No matter how many hours one may spend clipping coupons or setting out for the best deal via comparative shopping, things can always go wrong when there are hundreds of people waiting to gain access to a business on Black Friday.
In preparation for this huge day of shopping, some people may be looking for a new water dispenser while others are looking for new wardrobes. Either way, money is going to be spent!
This is precisely why the best way to prepare for the upcoming holidays as a retailer is to think proactively and update your store’s technology.
Everything from debit terminals and entire cash register systems is fair game, as the smallest things can contribute to the efficiency of your operation.
There are, however, so many options out there to help you build rapport in a pinch, so it’s useful to think according to the problems you anticipate encountering during the Fall. The following, then will outline a few ways your business can benefit from some fresh hardware and software.
Check Out New Technologies
Fortunately, there are many ways to go about optimizing a storefront; for example, you can go contactless with technologies like QR Codes, NFC, and Bluetooth that allow your customers to make payments quickly without physical contact with the payment terminal.
The customer uses a digital wallet that supports any of the contactless payment technologies for quick and convenient payment.
Self-checkout kiosks that allow customers to scan and pay for items by themselves help reduce congestion and may even be preferred by some customers.
Suffice it to say, if you’re looking for a debit or credit card terminal that will impress customers, a trustworthy merchant processing service provider is a must.
Speed Is Everything
A slow or outdated POS system – be it the program or the physical devices therein – can create an unruly line in an understaffed store.
Testing the patience of consumers is never a good idea, particularly for retail employees who rely on commission as the majority of their compensation.
Another prime example of a wait time deterring people is that of a restaurant; the more time people wait to pay the bill, the less likely they are to tip their server or return as customers.
QR Codes
QR Codes is another technology that can be deployed for contactless payment this Black Friday. Customers can scan a QR code with their phone’s camera to capture information about the product or service. Depending on how the system is set up the information captured may require the buyer to enter the price manually or it can automatically capture the price as well.
The customer will use a PIN or biometric authentication to finalize the payment. QR codes are great for restaurants where customers can scan the QR code on their bill to make payments. It can also work well for payment for public transportation and at retail stores.
NFC Payment
NFC (Near Field Communication) is a leading contactless payment solution that will benefit your business. With NFC customers can tap and payment in just 2 to 3 seconds significantly reducing checkout times.
Payment terminals supporting NFC payment are a great investment for high-traffic stores during Black Friday as this will reduce congestion during checkout and improve the overall shopping experience.
Loyalty programs that automatically reward consumers as they shop can also be integrated in order to encourage more customers to use contactless payment.
Bluetooth
While NFC is great and gets a lot of buzz, Bluetooth technology specifically Bluetooth Low Energy (Bluetooth LE or BLE) may even be a better contactless payment solution. They have a wider range and offer faster processing speed once paired and enhanced security.
Bluetooth LE is also more accessible as they are supported by smartphones at the lower end of the spectrum compared to NFC.
Payment with Bluetooth LE does not require internet access as it is more or less done on a peer-to-peer basis.
Clunky, counter space-hogging terminals beware – this technology is quickly overtaking the world of merchant processing terminals.
Bluetooth processing terminals are both sleek and efficient. Not only does portability mean durability, no matter the setting, but the wireless nature of these terminals means you’re getting high-speed interactions.
Security-Oriented Terminals
With computer hackers and credit card scammers advancing each and every day, it’s important to be able to thwart malicious transactions that can happen in the blink of an eye.
Theft, as well as credit card fraud, are some of the most common crimes in North America.
Luckily, if you’re worried about fast-paced transactions going awry, the newest payment processing terminals – both credit card and debit machines – use only the most advanced P2PE (Point-to-Point Encryption) techniques.
In other words, by withholding and redirecting the information provided by a paying customer – away from any possible threats – P2PE is a foolproof means of guaranteeing customer satisfaction and preventing any type of monetary loss.
Mobile terminals are also useful; the ability to move the device to one’s liking is, in itself, a kind of mechanism that can inhibit fraud from occurring – because it’s always on the move, potential criminals are unable to get a clear view of vital data, such as PINs.
Without the ability to clearly see who and what kind of payment is being made, it’s less likely that any malicious activity will occur.
No matter what new devices you decide upon, it will likely allow your store to prosper, once the back-to-school shoppers shift into full gear for the Halloween frenzy that always follows Labor Day.
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