Paying for a product or service is a fairly simple process for customers, but for the businesses charged with processing these payments, there are lots of variables that can impact the payment process.
When it comes to card present payments, the payment systems businesses use generally fall into one of two camps - integrated and standalone. For savvy merchants and businesses, integrated payments are fast-becoming the default option because of the streamlined functionality this method offers.
This article highlights the key benefits integrated payments provide and why it’s time to make the switch.
A seamless connection
The overarching difference between integrated and standalone payments is their connection to point of sale (POS) terminals. Standalone systems don’t connect to POS, requiring the merchant to manually key payment amounts into the terminal. Integrated payment systems, on the other hand, connect directly with your POS, allowing the seamless transfer of transaction information, which ensures a faster, more accurate checkout experience.
Saves you money
By automating the payment process, integrated payments help keep human error low, which saves time and money. Removing the need to key payments in manually means staff won’t have to worry about accidentally keying in the wrong amount when they’re processing a sale, so you can be confident that transactions are correct every time. Fewer errors and a more streamlined reconciliation process with all transactions managed through your POS helps save you time and money.
No time wasted
Integrated payments take your point of sale efficiency to the next level. In addition to reducing errors, integrated payments help to streamline end-of-day reconciliation and speed up transaction times, leaving businesses well and truly ahead of the game. All these efficiencies add up to a stronger payments system that leaves you with more time to spend on other areas of your business, confident in the knowledge that your customer payments are sorted.
A safer option
With an integrated payment system, you can help lessen the time your staff and customers spend handling terminals and minimise the spread of germs. In a post-pandemic world, maintaining hygiene standards and looking after the health and safety of your customers and staff should be a top priority.
In addition to all the back-end business benefits, an integrated payment system is also a win for your customers as well. Integrated payments allow you to offer a more sophisticated level of service - no manual re-keying of transactions in terminals means improved accuracy and less wait times in queues for customers. Your POS may also offer the ability to integrate with pay at table functionality, that means customers have the option of paying from the comfort of their table or when standing in a queue. This contactless method keeps wait times low and customers happy, so everybody wins.
Keen to know more about how our technology can support integrated payments? Get in touch today.