Choosing The Right EFTPOS Payment Solution For Small Business In Perth

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NETCorp

Christmas is almost here, this year the hospitality industry in Western Australia is going to witness a tremendous increase in footfall with the majority of the population planning to welcome 2021 here itself.

Every year we have seen thousands leave Western Australia to vacation outside, however, with COVID gaining a foothold in the world outside, Western Australia remains the safest haven for vacationers this year.

Is your business geared up with the right payment solution to have a contactless Christmas?

2020 December is an opportunity to offer your customers the best experience ever, and for that, you need to be well prepared. You might have considered everything directly related to your hospitality business – such as training resources, having stock of your inventory and menu – but have you thought about easy payment solutions? Making customers wait or saying no to their preferred payment method would act as a dampener. When customers decide to go cashless, EFTPOS (Electronic Funds Transfer At Point of Sale) system comes to rescue.

For a small business where margins are tight, choosing the right EFTPOS is crucial. You don’t want to tie yourself to a longer-than-necessary contract, and transaction fees and monthly costs for your sales.

In Australia, today, we have modern payment terminal providers offering simplified pricing for those preferring pay-as-you-go fees and no commitment. Before we help you choose the right EFTPOS for your hospitality business in Perth, let us dwell a bit deeper into the advantages of EFTPOS.

What is EFTPOS?

Most of us come in contact with an EFTPOS machine daily, only that some are unaware of its name. EFTPOS stands for ‘electronic funds transfer at point of sale’. When you pay through debit or credit card or mobile payment after making a purchase from the shop or after dining at a restaurant, that payment network which facilitates the transfer of funds electronically is EFTPOS.

Advantages of EFTPOS

Most of us come in contact with an EFTPOS machine daily, only that some are unaware of its name. EFTPOS stands for ‘electronic funds transfer at point of sale’. When you pay through debit or credit card or mobile payment after making a purchase from the shop or after dining at a restaurant, that payment network which facilitates the transfer of funds electronically is EFTPOS.

Efficiency:

While dealing in the cashless transaction, the chances of human error is low. Moreover, the need to count, tally and depositing cash it in the bank is eliminated. This frees up time for your staff to cater to your customers. 

Quicker transactions:

It’s no big guess that with EFTPOS your counter is cleared in minutes. The time taken to tender exact change is saved on both ends. All that you have to do is swipe a card or accept a mobile payment through your EFTPOS machine. 

Multi-payment options:

Customer experience is at the focus of every business today. A customer may carry several payment options and would prefer to use any depending on their convenience or rewards. So, offering multiple payment choices ensures a happy and returning client. EFTPOS, such as Windcave, offers several payment options.

More gains: Card payments allow customers to spend more. While transacting in cash they may be overly cautious about the balance in their wallet, but it is not the case when they pay with cards. A customer who might be low on bank balance will purchase if he has an option to pay with a credit card. So, the more the options, the better.

Choosing the right EFTPOS for your small business in Western Australia

Point of Sale (POS) integration:

You might already be having a POS system, be it a traditional one or a cloud-based solution, you should look for an EFTPOS that easily integrates with your POS system. Integration with your POS would ensure that there are no double entries. This would mean saving a lot of time and money while reducing rekeying errors. This would strengthen your POS to manage inventory consistently. Another advantage is in terms of security, completely integrated systems would strengthen each other’s security infrastructure to provide absolute data protection.

If you do not have a POS system, then investing in a POS solution, such as Tevalis, which is the best point of sale system for small or large venues, is worth considering. Tevalis offers integrations and internal functionalities that ease the burden of doing business and reduces the total cost of ownership. Most EFTPOS integrates seamlessly with Tevalis.

Apt for your business:

There are different types of EFTPOS payment solutions, and you should choose one that goes with your kind of business. For instance, if you would like your customers to pay from their table tipping, your EFTPOS should allow that. Windcave, for example, has an unattended solution, making it convenient for the hospitality sector to accept payment without engaging a resource. Choose whatever is best for your industry or rather for your customer’s taste. 

Easy to set-up:

Most small business does not have an IT expert or a technician onboard, so while zeroing in on an EFTPOS system make sure it is either easy to install, or support is provided with the system. Having undeterred support from a team of experts is worth every penny you spend. 

Connectivity:

Only seamless connectivity can guarantee a good customer experience. Check if your machine can be connected over Wi-Fi, SIM or Ethernet Cable. If you use only counter-top machines, then connectivity over Wi-Fi or Ethernet would be enough. However, if you wish to walk your EFTPOS machine to your customer, then consider a SIM connection with data connectivity. So, check the modes of connectivity supported by your machine. For example, if you host an event, a fully mobile terminal that allows you to take payment on the spot is worth thinking about. If you run a café, you might want to take payment at the counter or tableside, in which case, a portable option that connects by Wi-Fi might suit you best.

Security:

With EFTPOS payments, security is the main concern. Rely only on those EFTPOS providers who take security seriously. When you’re accepting payments, you’re placing a lot of trust in your EFTPOS provider to maintain safe payments, avoid fraud and keep your data encrypted.

To protect you and your customer’s money, you should ensure that the EFTPOS system you decide to go with offers Firewall protection, Anti-Virus Software, Compliances, Cardholder Data protection, and PIN protection.

Accepting multi payments:

The way people are paying is rapidly changing and with the pandemic induced social distancing, everyone is opting for contactless payment options. So, the EFTPOS machine you select should accept major debit and credit cards and also mobile payments such as Apple Pay and Google Pay. The more options you can offer your customers the better. 

24/7 local customer support:

When you have your shop bustling with activities the last thing you would want is a worn-out EFTPOS machine that would take hours to process. In case that happens, you would need help ready at hand. It is imperative to choose an EFTPOS provider who is local and is experienced in providing support. You should look for a provider who knows IT and POS. NETCorp, for instance, can not only provide instant local support but also will be able to work-around a solution if the error is due to our POS system or an integration issue or anything related to computers and network. This would mean you save hours of downtime just by engaging one vendor. 

NETCorp EFTPOS brings to you Windcave, which offers significant cost savings and value-adding features that no other device can, it exceeds all global security standards and future proofs against any new mandates.

With over 10 years’ experience providing integrated EFTPOS and payment solutions to the largest and most complex customers globally and complying with local and international standards including PCI PA DSS, PCI PED, PCI PTS, PCI DSS, PIN bypass, EMV (online and offline), 3DES, EME, RKI and unique keys per transaction, Windcave is the logical choice for your Integrated EFTPOS.

If you wish to know more about our POS or EFTPOS offering, call us for a quick chat