Elly Financial Technologies Limited
54 Poland Street, London, W1F 7NJ
54 Poland Street, London, W1F 7NJ
Due to altered consumer habits that prioritise fast and secure payments, merchants’ interest has switched to flexible and portable card machines. In short, whether you charge at tables, tills, or outdoors, a card acceptance terminal is mandatory.
Businesses of all sizes have embraced the trend and now take card payments, even for small-value transactions. More precisely, over half of UK payments in 2020 went through via POS terminals. But can merchants benefit from this shift, and how much does a card machine cost in the UK?
Most POS system providers tailor card acceptance packages that match the needs of small businesses. However, the cost of purchasing or renting these devices isn’t always negligible. This article explains why your store needs to introduce a card machine and at what price. It also underpins the various perks for merchants that use point-of-sale terminals.
As card machines come in many styles and have different features, prices vary depending on the provider. Hence, you must consider your customer base before deciding what terminal to install. For example, if most buyers prefer paying with their mobile phones, a contactless option will do the job.
As for cost, some providers urge retailers to purchase readers and terminals, and the initial price may exceed £150. Others impose only rental fees that typically range from £10 to £20 a month. Fortunately, a few proven companies in the field offer card machine renting at no cost.
Whether you work at the counter, serve tables, or visit clients, card machines lend a helping hand to small enterprises. For example, if you only accept till-side payments, select a fixed card machine. Or a portable terminal if you own a restaurant, pub, or beauty salon. Alternatively, you can go for a SIM-loaded device to charge customers on the move.
Moreover, smart POS systems boast secure and simplified invoicing. They help retailers manage orders efficiently and offer loyalty and reward schemes. So, stop wondering how much a card machine costs in the UK and focus on getting paid.
Besides understanding the basics of POS machines, merchants must also factor in the benefits they bring to the business. Below are a few reasons why every retail store should procure a point-of-sale system:
The software focuses on reducing operating costs and thus saves you money in the long run. It helps you turn each purchase into an upsell, too.
Thanks to the various functionalities of advanced POS systems, retailers can generate more income based on detailed customers’ statistics. When shoppers are satisfied, your profit margin and market share increase. Plus, you can always make room for new revenue sources by offering multiple services such as repairs, rentals, and consignments.
POS systems will help you organise and make your business more productive. Apart from reaping the benefits of fluid communication with staff and other stores, you can also manage your customers and suppliers. All you need to do is rely on a single software to streamline business operations.
The platform will also analyse and record your sales and inventory. Even better, all network users will get the same data, resulting in fewer errors and higher productivity. It becomes easier to track progress and set business objectives with all information in one place.
The lack of tangible data complicates the optimisation of employee schedules. Also, monitoring staff performance is impossible without reliable information.
The latest POS systems generate an overview of hours worked, sales by employee and time slots. As a result, retailers have accurate data about the efficiency and peak hours. All this available information allows them to create schedules, optimise the floor, give bonuses, and provide training.
POS machines enable faster payments via multiple means. Most terminals allow shoppers to pay with credit and with debit cards, e-wallets, or cash. Hence, each transaction is quick and waiting times are minimal.
Employees only need to select the products or services clients want, and the system performs automatic calculations. Then, they can print invoices right away or send them via email. Overall, POS systems allow employees to be more efficient and complete error-free transactions.
A unique shopping experience leads to brand recognition and clients’ loyalty. Shoppers appreciate when they get value for their money and procure what they need fast. You can also run an e-commerce platform and offer your products online. The more channels you provide, the more engaged your customers become.
Many merchants decide to implement cross-selling tactics to increase profits and client involvement. They offer related items to the ones already purchased. For instance, when someone buys a bike helmet, you can also sell a lock and a tire repair kit.
Safeguarding company and consumer data is vital. Hence, only authorised users should have access to confidential information. Due to the robust security of POS systems, such as double user authentication, your data remains protected from intrusion.
Some card machine providers also offer cloud computing solutions. This way, they back up critical information automatically and systematically. You can check your data at any time without fearing that a natural disaster might destroy it.
When you register with Elly, we pledge to provide a solution that goes way beyond a traditional card machine. Our team strives to arm you with all the tools needed to run the business hassle-free. On top of that, you pay no fee to get your payment acceptance device up and running.
Elly’s plans include quick settlement times. Thanks to the multiple payment methods accepted, you have cash flow freedom and room for growth.
Moreover, the personalised dashboard will help you monitor transactions in real-time across all various locations. You’ll be able to issue daily statement reports and take tips, too. Contact us for more details and get your quote today.