Although it often seems like a casual outing, shopping can be one of the most grueling undertakings. Even the most discerning and prepared shoppers can face long waits and poor inventory, especially when a store isn’t ready 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 you spend clipping coupons or hunting for the best deal through comparison shopping, things can still go wrong when hundreds of people are waiting to get into a business on Black Friday.
As people prepare for this huge day of shopping, some may be looking for a new water dispenser, while others are looking for new wardrobes. Either way, people will spend money!
That’s why the best way for retailers to prepare for the upcoming holidays is to think ahead and update their store’s technology.
Everything from debit terminals to entire cash register systems is fair game, since even small upgrades can improve your operation’s efficiency.
However, with so many options to help you build rapport in a pinch, it helps to think about the problems you anticipate encountering this fall. The following outlines a few ways fresh hardware and software can benefit your business.
Check Out New Technologies
Fortunately, you can optimize a storefront in many ways; for example, you can go contactless with technologies like QR Codes, NFC, and Bluetooth that let customers pay quickly without touching the payment terminal.
Customers use a digital wallet that supports any of these contactless payment technologies for quick, convenient payments.
Self-checkout kiosks that let customers scan and pay for items 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, you need a trustworthy merchant processing service provider.
Speed Is Everything
A slow or outdated POS system, whether the software or the physical devices, can create a long line in an understaffed store.
Testing consumers’ patience is never a good idea, especially for retail employees who rely on commission for most of their pay.
Another prime example of wait times deterring people is a restaurant: the longer people wait to pay the bill, the less likely they are to tip their server or return as customers.
QR Codes
QR codes are another technology that can support contactless payment this Black Friday. Customers can scan a QR code with their phone’s camera to capture product or service information. 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 pay. It also works well for public transportation and 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 pay in just 2 to 3 seconds, significantly reducing checkout times.
NFC-enabled payment terminals are a great investment for high-traffic stores during Black Friday, as they reduce checkout congestion 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. It has a wider range, faster processing once paired, and enhanced security.
Bluetooth LE is also more accessible, as smartphones support it even at the lower end of the spectrum compared to NFC.
Bluetooth LE payment doesn’t require internet access because it works peer-to-peer.
Clunky, counter-space-hogging terminals are becoming a thing of the past; this technology is quickly overtaking the world of merchant processing terminals.
Bluetooth processing terminals are both sleek and efficient. Portability doesn’t sacrifice durability, and these terminals’ wireless design delivers high-speed transactions.
Security-Oriented Terminals
As computer hackers and credit card scammers advance every day, it’s important to thwart malicious transactions in the blink of an eye.
Theft and credit card fraud are among 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 the most advanced P2PE (Point-to-Point Encryption) techniques.
In other words, by withholding and redirecting information provided by a paying customer away from potential threats, P2PE is a foolproof way to ensure customer satisfaction and prevent monetary loss.
Mobile terminals are also useful; their portability can inhibit fraud because, when they’re always on the move, potential criminals can’t get a clear view of vital data, such as PINs.
When staff can’t clearly see who is making a payment and what kind it is, malicious activity is more likely.
No matter what new devices you choose, they will likely help your store prosper once back-to-school shoppers shift into full gear for the Halloween frenzy that always follows Labor Day.
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