As a business owner, keeping up with advancing technology trends should be one of your top priorities. For a decade now, businesses have moved their focus to the customer experience from the product alone. One important aspect of your customer’s experience is a secure and seamless payment methodology.
A POS payment machine has been the most widely adopted and used payment gateway. POS terminals, however, are now being replaced by the e-POS App, for a very simple reason. They offer a more advanced and customer experience. Here are some very real benefits to tell you why ePOS transactions are the future.
Benefits of e-POS Technology
1. Widest range of payment methods accepted:
How many times have customers not completed transactions with you because there were limited payment options? Using an e-POS API translates directly into increased sales as it equips your business to accept almost every official mode of payment there is. From foreign currencies to bank transfers to payment processing accounts, whatever mode of payment your customer uses is compatible with e-POS technology.
2. Available in your mobile Play Store:
e-POS apps are extremely convenient as they are available easily on app stores and can be accessed from a single platform very conveniently. This makes it very easy for merchants to collect payments in a shorter time.
3. QR code enabled:
An e-POS app is a QR code-enabled payment platform. Merchants are provided with a QR code that can be accessed and shared on multiple platforms. This makes it easier to initiate and complete payments for customers. The share ability of the payment link makes it a powerful retail business tool. Both the payment link and the QR code are customised for individual transactions.
4. Quick payment processing:
e-POS technology is developed with the capability to process payments quickly, which saves time both for the customer and the employee. For the customer, this provides a better experience, increasing their trust in your business. For the employee, this saves times, improves efficiency and performance and increases sales.
5. Compatibility with digital shopping carts:
Ideally, your e-POS API will have a shopping cart system in which customers can select and complete payment for items. e-POS technology provides a centralised database of customer information for businesses that run both online and offline. These advanced solutions are designed to seamlessly integrate with your online business platform to provide a seamless experience for your customers.
6. Better inventory management:
Inventory management and sales are seen as separate departments that do not directly affect each other’s daily functioning. This changes completely with e-POS. Instead of keeping inventory management separate, ePOS continually updates your inventory after every purchase. This makes it easy to identify which items are running out of stock and lets you take measures accordingly.
7. Connecting the management of multiple stores:
Another benefit of e-POS is that it brings all revenue-related and other data and stats together for multi-store brands to use. Now you no longer need to merge databases and manually add the revenue of every location. This centralisation approach is ideal for scaling your business and fits well with your business expansion plans.
8. Simplifying business data:
Going through business and data reports can be a nightmare sometimes. All the graphs, numbers and jargon can be very hard to understand for every stakeholder. e-POS can significantly simplify administrative analysis by displaying data in formats that are easy to understand for everyone.
e-POS technology is never one-size-fits-all. It is customised to suit individual business needs for a seamless experience and increased profitability. This ensures your customers keep coming back and don’t leave without completing transactions.