As the busy holiday season is just ahead, it’s time to start thinking about how to make every sale count. Buying and selling should be a simple part of your business, but traditional payment solutions are often expensive and difficult to use, with hidden fees and long waits to receive funds.
Running your small business with a mobile card reader and point-of-sale (POS) system can help make commerce easier for everyone. Here are three easy ways to get set up and make sure you never miss a sale.
Use your smartphone or tablet for easy setup.
Many small businesses struggle to accept debit and credit card payments because the process is too costly and difficult. Lengthy contracts, expensive fees and complicated setups make many POS systems better suited to large businesses. Now, it’s easy to accept card payments with your smartphone or tablet, an affordable card reader, and an app you can quickly download. You can be up and running in five minutes, accepting cards at a low, transparent rate with fast access to funds.
Offer varied payment options.
Payment trends show that only a quarter of sales transactions taking place in Canada are done with cash. The majority of Canadians now pay with credit cards, including an increasing number of those making smaller payments that would have once been paid in cash. Customers appreciate a business that gives them flexibility to pay how they want, and they spend more money when they’re not constrained by the need to have cash on hand. Your sales will also probably increase when you offer more ways to pay, as card payments are often transactions that wouldn’t have taken place at all otherwise. Happier customers are also more loyal customers.
Get insights into your sales.
Access to value-added features, like real-time analytics, give Square sellers the ability to quickly and easily see sales trends, buyer insights, helpful charts and personalized data to help run operations efficiently and make important decisions. For example, you can find the answers to key questions such as, “Which items have been selling the most over the last month?” and “What percentage of my customers are new versus returning?” without spreadsheets or complicated tools. Just watch out — checking your analytics can be as addictive as checking your email.
Card readers and POS systems are tools that can help you compete as efficiently and intelligently as a larger business. They also free up the time you need to think about the parts of your business — such as stock control and staffing — that need more attention during the holiday rush.