Features and Benefits of Electronic Fund Transfer Point of Sale

Ever found yourself trapped in the grocery line, desperately fumbling for cash or swiping your card like a maniac? Don’t sweat it, we’ve all danced that embarrassing tango. But thankfully, electronic fund transfer point of sale (EFTPOS) has come to save the day. If you run a business, the great news is that you have so much technology at your fingertips to accommodate customers and be a leader in this area.

With EFTPOS, short for electronic funds transfer point of sale, customers can simply tap or insert their cards and be on their way – no more counting out coins or waiting for the cashier to count them. When customers are in a hurry, EFTPOS is there to save the day. In truth, EFTPOS terminals offer a wealth of features and benefits, and we’re going to explore them in this guide!

Faster Payments – Customers can make payments effortlessly and quickly. No more waiting for a check to clear or inputting PIN numbers backwards. Gone are the days of trying to decipher an illegible signature on a receipt – now, all transactions are completed electronically with ease. What’s more, businesses receive payments faster than normal too.

Increased Security – When it comes to handling money, security is paramount. That’s where EFPTOS comes in. No need to lug around wads of cash. With debit or credit cards, payment is secure and fraud-proof. It’s a win-win for businesses and customers alike. 

Convenient Record-Keeping – With electronic record-keeping, tracking your business’s finances becomes a breeze. Say goodbye to the messy paperwork and hello to financial bliss. No more sifting through piles of receipts or manually entering transaction information – now, all the records are neatly stored in one place for easy access and organization.

Cost-Effective – Businesses can save money on transaction fees compared to other payment methods. This means more profit in your pocket and less hassle when it comes to processing payments. In Australia, you can also take advantage of the automated surcharging.

Split Payments – Customers can easily split their payments between multiple cards or payment methods. This is especially useful for group purchases or when customers want to use a combination of cash and card. No more awkwardly asking strangers for change or trying to figure out who owes what – EFTPOS has got you covered. This will make the lives of your servers and staff easier than ever.

Flexible Payment Options – EFTPOS offers a variety of payment methods, including credit and debit cards, mobile payments, and contactless options. This flexibility ensures that you’re meeting your customers’ needs so they can pay in the way that is most convenient for them, making their shopping experience smoother and more enjoyable.

Email, SMS, and Printed Receipts – Customers have options for receiving receipts electronically through email or text message, saving paper and reducing waste. But don’t worry, if customers still prefer a physical receipt, EFTPOS terminals can print them too.

POS Integration – EFTPOS terminals can easily integrate with your point of sale system, streamlining the payment process and reducing human error. This means less time spent manually entering transactions and more time focusing on your business.

Built-In Customer Tipping – With EFTPOS, customers have the option to tip electronically instead of carrying around cash. This makes it easier for customers to show their appreciation and rewards your hard-working staff.

Branding Opportunities – Leading EFTPOS terminals are customizable, allowing you to display your business logo or other promotional messages. This is a great way to increase brand recognition and advertise your business while customers complete their transactions.

Bottom line? Electronic fund transfer point of sale technology offers numerous benefits for both businesses and customers alike. But make sure you choose a service with all these features!