What are Integrated Payments?
All of us have headed into a café, burger joint, or waffle house and utilized the point-of-sale system present at the counter. This system allows for credit and debit card payments, as well as digital payment options like Apple Pay or Google Pay.
Integrated payments take this system of payment and streamline everything into a process that makes life easier for the customer as well as for the business owner. Multiple devices communicate with each other via software, making business run smoother, and giving owners quick access to data. Managers can pull up customer information, reprint receipts, and resolve disputes in a much more efficient manner.
Let’s look at the various ways that Integrated Payments work, and how they can work for you.
Transaction data is simply information about customer payments, items purchased, and payment methods. With an integrated payment system, all of this information is automatically stored via software or on the cloud.
This will cut back significantly on time spent manually entering information into spreadsheets, or physically retrieving data. With everything in one location, data is easily accessed, and you save valuable time and money.
All of this information poses a security issue for you, and for customers. Integrated payments allow for sensitive data to be stored and encrypted, away from third-party thieves, hackers, or competitors.
This can add a layer of safety and protection for your customers, as well as for yourself. With concerns about data privacy and identity theft at an all-time high, an integrated system can save your customers worry, and help save you money, too.
Marketing and Sales Data
Integrated payments allow you to take a look quickly at which items are selling best, and which items are doing poorly. This information can help you strategize and focus on products and services which make you the most money, and work best for your customer base.
Grow your business quicker by understanding how to meet your customer’s needs and expectations, and feel freer to develop new products and services. This can help keep you ahead in your business and earn more in the long run.
Flexibility for Customers
Finally, integrated payments allow your customers greater flexibility in how they pay for items. Transactions can be made via card as well as cash, and can also use mobile payment methods, gift cards, and online payment methods. Anyone who has ever shopped online will immediately appreciate the ease and speed with which items can be paid for and received.
As more and more of our payment methods go digital, having an integrated payment system will make life easier for your customers. They’ll likely go shopping where the best options are, and using an integrated payment system lets them know that you’re aware of their needs, and ahead of the curve.
There’s really no reason not to get an integrated payment system for your small business. This system will save you time, save you money, help you streamline finances, and do much of the work for you. It’ll add a layer of security to customer transactions, and give your customers more ways to pay, and more ways to enjoy what you’re offering. Please note that this is only some basic information on integrated systems. For more information, please call us at: 310.826.7000