Most businesses are constantly looking to how they can improve, and this also means looking to new technologies in order to make processes better. It’s likely that as a small business, you will want to make your payments easier while also building stronger relationships with clients. One of the newest ways you can do this is with a smart terminal. Not only does it make payments simpler for customers, but it also streamlines things for your company.
Here are some reasons why you might want to consider a smart terminal for your small business.
They eliminate paper receipts
In order to make receipts, it takes a vast amount of resources. This includes nearly 10 million trees cut down and one billion gallons of water, which can be completely avoided by using new technologies. Smart terminals allow business owners to send receipts directly to customers without having to print them out. Not only does this help with the waste created by paper receipts, but it also removes some of the difficulties created by storing a large number of receipts and there is no concern about them being lost.
They allow for cloud storage
Storing a record of payments is essential for a business, but having years of physical receipts can take up a large amount of space. With virtual terminals, all transactions are stored automatically, and all it takes is a search in order to pull up a customer’s payment history. This can greatly increase your business’s efficiency when you need to issue a refund or you need to get an idea of what orders need to put in for your inventory. This information is sent over to your database, where you can have access to your entire history of transactions.
They allow for multiple payment choices
Smart terminals were also created to make it simpler for both the customer and the business owner. For most small companies, a variety of payment options are often required in order to build client trust and to attract new customers. With smart terminals, you can accept a number of payment options, including NFC phone payments, both a chip and swipe card, and wearables. No matter how your customers choose to pay, you can provide an option that makes them feel comfortable.
They provided a better level of security
On top of offering several choices, smart terminals also have an extra layer of security that older payment methods do not. Along with chip and PIN transactions, they also allow you to transfer data on a secure network, making it more difficult than ever for hackers to access your information. Most smart terminals are now PCI compliant, meaning that they adhere to the strict standards established by major credit cards. This means that sensitive data is hidden by an encrypted network called TLS, which is required from companies such as Visa and Mastercard.
When you want to provide the best services for your customers, you’ll want to keep how they choose to pay in mind. Smart terminals can help them to feel more secure while also providing a better overall experience for your business.