Finding the Right EFTPOS Solution For Your Business Needs

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12.10.2021 Payments

Finding the Right EFTPOS Solution For Your Business Needs

No matter your industry, an EFTPOS solution is critical. 

Choosing an EFTPOS (electronic funds transfer at point of sale) payment solution for your business used to be a time-consuming, frustrating part of the job. Traditionally, EFTPOS terminals were produced by the big 4 Australian banks — and determining what made one option better than another was no easy task. These days, thanks to advances in technology, the decision-making process is far simpler. 

No matter if you’re a florist with a shop or a contractor on the go, determining the best EFTPOS machine for your small business is a straightforward task. There are 9 key questions to keep in mind when shopping for an EFTPOS terminal — but first, you’ll need to decide what type of machine your business needs.  

As a business owner, you want to provide efficient service and convenience to your customers, and the way you process payments plays an important part in delivering that. Let’s explore the best EFTPOS machines for small business.

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Countertop EFTPOS terminals

These devices are suitable for physical stores and other businesses where transactions happen in just one area. Typically attached by cords to a particular location, they offer an efficient and stable connection even in areas of poor reception. However, keep in mind that countertop machines will do little to disburse customers and minimise queues — which is important, in this new era of social distancing.

Portable EFTPOS machines

Offering a range of flexibility, portable EFTPOS machines run on a Wi-Fi or SIM connection. Some, like Zeller Terminal, connect to the internet in multiple ways — protecting your business from inevitable periods of internet downtime. A mobile EFTPOS terminal allows you to accept payment from anywhere: curbside, at the dining table, from a market stall, or on the road. 

A portable EFTPOS machine is a great option for cafés and restaurants, allowing staff to take payment from diners at their tables without inconveniencing them to get up and pay elsewhere. This helps save time, while minimising customer movement. Portable EFTPOS machines are also a perfect solution for business owners who run a mobile service business such as gardening, cleaning, and the like.

Plug-in card reader

Designed for use by contractors and sole traders, this option plugs into your smartphone or tablet — enabling it to process transactions. These readers are usually managed by an app on your device. Plug-in card readers allow for payments on the spot, however they don’t look very professional — and professionalism is key when taking payment from customers.

Maximising your customer experience and branding is important in developing your business. Portable EFTPOS terminals, like Zeller Terminal, are designed with mobility in mind and make managing your business more efficient — as well as offering your customers the convenience of paying for the service as soon as it’s been provided. The ease and convenience of having a mobile credit card reader will not only save you the hassle of invoicing at a later date, but it will also offer your customers a touch of professionalism.

Smartphone apps

There is no doubt that, when it comes to transferring money, technology is advancing at a rapid rate. There is a  growing number of customer-focused apps which allow for the transfer of money. Most financial institutions have a smartphone app that allows merchants to accept card payments via the app or the web browser from almost any device. 

However, it’s important to note that customer-focused mobile paying apps are generally designed for the transfer of money between friends — rather than making purchases. Given that these apps are typically used for basic transfers, where both parties are known to eachother, customers may find this type of payment method unprofessional. Keep in mind that processing transactions via a banking app also will not allow you to provide the customer with an itemised transaction record.

Other apps that are becoming widely popular, due to their ease of use and contactless design, leverage short-range near-field communications (NFC) technology. These apps allow the customer to tap their phone at the counter, much like Visa’s payWave and Mastercard’s PayPass contactless credit cards. However, for a customer to be able to pay this way, your business will need a terminal that supports NFC for this type of technology.

Bank transfers

Bank transfers have been around for a long time and, whilst they technically do not fall under the definition of an “EFTPOS solution”, some business owners still choose to process transactions this way. However, this type of payment method poses a few problems — for both the merchant and the customer. 

One of the major issues is the room for human error, as well as the potential for security issues with bank transfers. Typing just one number incorrectly could mean a world of pain for the customer, who would then need to speak to their financial institution to get their money back. For the merchant, it may mean that they will have to chase the money by advising the customer they didn’t receive payment. Security issues regarding privacy can also arise, because your business’s bank details are given out to so many people. 

Another issue with this type of payment solution is the time it takes to process the transaction, as well as the lack of documentation about the services rendered or products purchased. Adding to this, if your business has employees, you’ll want them to be able to take payments from customers easily and ensure there is a smooth process in finalising the sale. For that, you need an EFTPOS terminal.    

Remember, you’re not just building a business. You’re building a brand, and customer perception and trust are both of critical importance. 

There are various options for choosing the best EFTPOS machine for your small business. What’s important to consider is the level of professionalism you want to demonstrate, the ease of use for your customers, and the mobility of the machine itself.

Zeller Terminal offers everything your business needs — from mobility, customer convenience and a sleek design. Whether you're  selling in-store or on the road, Zeller Terminal enables you to accept payment from every customer quickly and conveniently. 

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