Integrated Bank Payment Terminals and their Advantages
Almost half of all payments in Europe are carried out using bank cards, so it is helpful for merchants to have integrated bank payment terminals. The main reason for this is that payments will be made twice as fast and human errors will be eliminated.
Double speed payments
When a bank payment terminal is integrated with a computerized cash system the time of one transaction is reduced twice. How does it work?
The salesperson at the point of sale clicks the payment by card button and the text “Waiting for a card” appears on the screen. The customer places the card into a bank payment terminal. The salesperson can monitor the performed payment transaction on the screen and does not need to enter the payment amount separately into the payment terminal, because the amount is transferred automatically.
In such a case from three to five seconds are saved on each transaction. 200 such transactions will save you 1000 seconds and your business gets additional 15 minutes during which you can earn more, especially in rush hours.
In addition you can use contactless payments: the payment, the amount of which does not exceed 25 euros, will be carried out when the customer simply places the card on the bank terminal. In some cases when you make payments up to 25 Euros you may see a PIN-code request on the terminal. This is an additional security solution that ensures that the card is not lost and is used by its owner.
Elimination of human errors
How to avoid human errors? When a salesperson has to enter the payment amount into a payment terminal manually, there is a risk that s/he will enter the wrong amount because of the rush or fatigue, for example, instead of €10 only € 1 will be entered. When collecting money, the salesperson can no longer retrieve the missing money from the buyer and it also takes time to find out how this error occurred. An integrated payment terminal helps to avoid such errors.