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No matter how small your business is, you need a strong point of sale system if you want to grow. It is essential to building a successful business because your customers need to pay quickly and efficiently. There is nothing worse than a long line held up by an unreliable POS machine.
A POS Machine is the hub where your inventory, customer management, and sales combine. It’s a secure all-in-one system to replace accounts and spreadsheets. With it, comes software that allows you to accept electronic payments.
We are rapidly moving to a near-cashless society, where most people want to make their payments by card or via virtual payments like Google Pay or Apple Pay. If you do not have an EFTPOS machine in place, it could result in significant losses to your business. Before we detail the step-by-step process on how to set up an EFTPOS machine, let’s highlight the benefits and features.
The Benefits
Efficiency
You have to count, recount, and deposit cash which means it’s both finicky and time-consuming. It’s an extra task that you or your employees have to fulfil. With an EFTPOS machine, you reduce the level of cash you process thereby reducing the time required to handle it.
Theft
Cash isn’t just high maintenance. It presents a higher risk of theft as well. It’s easier to steal, and the more cash you store, the likelier you are to be the victim of crime. EFTPOS payments are deposited directly to your bank.
Fast Transactions
Perhaps the biggest benefit, or at least the most apparent, is the speed it brings to transactions. The majority of transactions, especially in the hospitality industry, occur during peak hours. The only way to keep up with the rush is fast transactions, and nothing is quicker at processing transactions than via an EFTPOS machine like Square Reader, Square Terminal, or Square Register.
Payment Types
Technology has produced a variety of payment types from those who carry prepaid cards to the wearable tech linked to debit cards. With an EFTPOS machine, you can rest assured whatever the payment type, your machine can handle it.
Important EFTPOS machine features
- Easy POS integration
- Multiple payment methods to ensure you cater to all customers.
- Flexibility and mobility, if you want your staff on the move with a payment system in hand. Or, you need to move it around the building.
- Data security
Your Guide: How To Set Up EFTPOS Machine
The central hub of the EFTPOS system can be any digital device with the software installed. This could be a tablet, a computer, or even a laptop. The software is linked to a cloud server via the Internet, so it’s imperative that you have a strong, stable Internet connection. The hardware required to compliment your EFTPOS system includes a cash drawer, a card terminal, a receipt printer, a USB scale or a barcode scanner. Now you know what you need, how do you set it up?
Generally, if you want to start accepting EFTPOS payments, you would need to enter into an agreement with a bank. However, when you use a service like Square, it’s all taken care of for you. As long as you use Square products and sign up for an account, it’s simple.
Hardware Setup & Accessories for Square Terminal
Remove the packaging from your new Square Terminal and carefully take the terminal out. Hold the power button down for three seconds to power the device on.
First things first, you will need to charge your terminal by plugging the adaptor into the port, the cable into the adaptor, and the cable into an outlet. Once charged, you can mount it. Your terminal is a portable handheld device, but you can still secure it to your counter if you wish.
When you power your terminal up for the first time, it will request you to connect to a strong and secure Internet network. You can complete this with an Ethernet cable (sold separately) or via Wi-Fi or mobile hotspot. You cannot connect to an unsecured network or captive portal, which requires you to accept T&Cs before you can log in. These are the types of portals you see when connecting to Wi-Fi in a shopping centre, an airport, or at a coffee shop.
Simply follow the prompts the terminal suggests; select the correct network, enter the password, and hit Next. If you prefer to connect via Ethernet cable, you will need to purchase the appropriate Hub for Square Terminal and connect the cables. Once the cable is plugged into the hub and powered, it will automatically connect to the network.
Software Setup for Square Terminal
The beauty of EFTPOS systems such as the one Square offers is that the software is inbuilt and preloaded.
Payment Setup for Square Terminal
Before you can start taking payments, you need to load the receipt paper. The Square Terminal has a built-in thermal printer so you won’t need to replace the ink.
- Above the screen, at the top of the terminal, you will find the printer door. Open it and unroll a fresh roll of receipt paper. The loose end should face away from the screen out of the terminal with the unwound roll on top. Close the door, tear the excess paper off, ripping toward the screen, and you’re ready to go. But, before you start, do a quick test print. Hit the test print button that you will find under hardware and printer in the settings.
Once your paper is correctly inserted, you can start taking payments and printing receipts. Now that you know how to operate an EFTPOS machine, the question is how do you take a payment?
- From the Checkout screen, select your items from the Item Library or scan the item barcodes and tap charge.
Note: Barcode creation is a Square for Retail Plus feature.
- With contactless payment devices, a simple tap will do.
- If your customer is paying with a chip and PIN card, simply encourage them to insert the card into the machine and enter their PIN.
- While swipe cards are going out of vogue, the card should be swiped with the stripe facing inward.
Your EFTPOS system can also assist with sales reporting, customer engagement, inventory and item management, customer and location management, device management, invoices, and gift cards too. Sign in to your Square account or create a new one (on your computer). Once your account is activated for card processing, you can set up sales taxes, add items, and enable your team. You can help your business grow with Square Terminal.
