It goes without saying that technology and its ever-accelerating development has a vast, if not hard-to-grasp, impact when it comes to the nature of business and commerce. Nevertheless, the way it shapes customer-merchant interactions is often taken for granted. It’s unclear whether a speedy, nearly automated transaction makes people more inclined to come back or if it makes them feel alienated and distanced from the person working diligently at the register.
If you’re considering changing your current payment system and the terminals you have at hand, there are a few factors to keep in mind. Luckily, with the right experts on your side, you can easily figure out the POS or card terminals that are right for you. In addition to contemplating the following examples on your own, you might want to discuss these points with an alternative merchant service provider, one that is less bureaucratically-inclined and fee-oriented than big-name companies, such as Interac and Visa, who tend to overcharge and provide minimal customer service; for instance, Swift Payments is a company that prides itself on absolute transparency with its clients– but no matter who you go with, this items ought to be considered when contemplating the question of technology, particularly how to go about accounting for these changes when it comes to your business.
Technology Doesn’t Always Mean Cutting-Edge
When New York businessman Frank McNamara realized he had forgotten his wallet while out to dinner, the idea for what would become the first independent credit card company emerged out of an incredibly awkward situation. Soon after founding the Diners Club International, McNamara introduced the first credit card processing system, which was popularized around 1950. No doubt, these systems were not as sleek as they are now; the first wave of transaction devices were simple manual imprinters– these devices necessitate a rather arduous process, in which a form is first filled out by store clerks;it is then layered over the credit card and run over by the imprinter in order to copy the card information to the form. Later, this form would be signed by a customer and shipped to the bank in order for the merchant to receive payment. Oddly enough, manual imprinters are still around today – they are particularly useful during power outages or other service interruptions in which electronics are unable to process transactions; with technology old and new working in tandem, any business can confidently face up to unexpected situations.
Hardware And Software Influence Our Interactions
It’s no secret that the quicker the transaction, the less time we spend face-to-face with each other. While for some, this is a great benefit, for others, this can mean finding other ways to create meaningful connections between merchants and customers. When efficiency comes at the cost of being personable, there may be a problem. How ought we guarantee a comfortable shopping or dining experience if we’ve so little time to read the faces of customers for satisfaction or dissatisfaction?
While we cannot, at this time, be certain of the full extent of the consequences something like a sophisticated POS system may have on a business, we can take solace in knowing, at the very least, that it makes a business efficient, if the technology is maintained, well-used, and continually updated.