Adding an online virtual terminal to your everyday business processes will open up new avenues for stimulating growth. You will gain access to a broader customer base and vastly improve the customer experience with user-friendly features.
By utilizing cloud-based storage, mobility options, and building a virtual presence, you can increase your profit as well as your reach. Follow these three key steps to improve efficiency and customer service when introducing your online virtual terminal.
Invest in a Cloud-Based POS System
These days, it is a must that your business operates in some capacity over cloud-based systems. Eliminating hardware and protecting your data make the cloud an attractive choice for small business owners. If you decide to implement virtual terminals, you will need cloud-based data infrastructure to move sales information to merchant accounts and your POS data storage.
Cloud-based POS software allows your business to take on a borderless business approach through the use of web-based tools. Integrated online ordering websites bring more customers and information, like customer statistics, to you. Web-based invoicing tools give you the ability to create and send digital invoices or receipts to customers for improved tracking and added customer convenience.
Using cloud-hosted POS software adds data integration that can be applied to all of the information coming into your business from any source. Through centralized data management, accuracy and accessibility help build better reports which provide you with greater levels of accuracy in predictive sales and inventory analysis. These can be used to make concise, proactive changes in how the customer experience flows.
Add Mobility into Your General Operations
If the cloud forms the foundation upon which virtual terminals sit on, then it is the use of POS mobility options that form the walls. Virtual terminals are built to handle mobile transactions as well as sales initiated online and work very well with mobile payment apps provided by POS software vendors. These give you a multi-layered payment acceptance infrastructure that adds agility and security into every transaction your business processes.
Adding POS technology that embraces mobile payment features will be more likely to provide favorable transaction conditions with a merchant account provider. In addition to gaining more control over transaction costs, you will obtain better data from each transaction that can be used to adapt to changing customer trends. This also presents you with a broader range of payment-type options which adds more versatility to business operations.
Grow Your Online Presence
The last step to maximizing the benefits from your online virtual terminal is to build a virtual presence. But what should this look like for your business, especially if the nature of your work is mobile?
Every business type can benefit from a virtual storefront, which means that every business type can also benefit from a virtual terminal. Here are some examples of how this can be accomplished in various industries:
Online menus that directly integrate into a cloud-based POS system allow customers to place orders or view a food truck schedule. Using this same online presence allows food truck operators to leverage virtual terminals to keep the line moving and to reduce the reliance and security risks of holding onto cash.
Reservation systems are the bane of the existence of salon owners. An online presence can mitigate this by giving customers an online booking system that removes the need for staff to sit on the phones. After the appointment, the virtual terminal can be used while the client is still in the chair to complete the transaction, further keeping everything on schedule to avoid complaints and long wait times.
Repairmen or Tradesmen
Those who work out of their trucks or vans can benefit from the use of an online presence. Like hair salons, services can be easily scheduled using an online booking system. Payment can then be completed via web-based invoicing software or through a virtual terminal.
As you can see, a virtual representation of your business goes hand-in-hand with virtual terminals. But before you take the leap, it is important to evaluate the current state of your POS solution and make the determination of its ability to support virtual POS tools.
Let a POS Expert Guide You Towards Your Online Virtual Terminal
Getting the right tools in place to support virtual payment terminals starts with consulting a valued POS partner. They will analyze your business model before guiding you towards the necessary POS options for your business to use virtual payment terminals. This process ensures that the technology you implement is relevant to your current operations but also has the flexibility to grow with your business.
Partnering with talech to help introduce online virtual terminals into your business model will give you comprehensive coverage. Our consultants examine your business from the ground up to ensure that all POS technology that is used is done so with your virtual presence in mind. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.
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