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Benefits of POS Terminals for store owners
Summary: A POS terminal is a small electronic tool that can be kept at the billing counter of retail outlets to process customer payments. Metra Trust offers the latest Android and GPRS POS terminals that process not just card payments but all kinds of new-age digital payments such as UPI and wallets.
India is rapidly becoming a digital nation. Today, more people prefer digital payments to cash ones. It’s one of many reasons why debit cards, credit cards, prepaid cards, UPI, digital wallets, and more are becoming the way of life. Contrary to popular belief, this is not limited to urban areas. With mobile and internet penetration growing, even people in rural areas are moving towards digital payments. So, if you are a store owner, what does this mean for you?
To accommodate all kinds of customers and their preferences, you need a payment acceptance medium, and this is where Point of Sale (POS) terminals come into play.
What is a POS Terminal?
A POS terminal is a small electronic tool that retail stores have at their billing counters to enable easy processing of customer payments. Traditionally, it conducts all card payments and transfers the money from the customer’s account to the store’s account. It also records all transaction details that can help the owner keep track of sales, tallying accounts, paying tax, etc.
POS terminals are convenient as they can process transactions faster, ensure accuracy, eliminate the tedious task of counting cash and returning the change, and most importantly, give the customer the power to choose how they want to pay.
The Emergence of New-age POS Terminals
With advancements in technology, POS terminals have evolved to process not just card payments but all kinds of new-age digital payments. They also accept payments via modes such as UPI and digital wallets.
Here’s how it works. When you deploy a POS terminal, your merchant outlet will be defined by a unique Merchant ID (MID). Each outlet can have multiple floors or billing counters, and the merchant may need a POS terminal at each counter. Each POS terminal is identified using a Terminal ID (TID). For example, if you have two outlets for your store in different locations, you will need two unique MIDs. If both stores have three billing counters each, you will need six TIDs.
Get the Metra Trust POS Terminal Advantage
Developed with cutting-edge technology, Metra Trust offers the latest POS terminals to retailers across the board. These Android and GPRS POS terminals support 4G, Wi-Fi, and Tap-n-Pay options and easily integrate with your billing system.
One of the key features that can prove particularly beneficial for your business is that Metra Trust settles merchant payments every day before 6 AM; 365 days of the year. Moreover, it provides easy access to the business dashboard and helps store owners analyse transactions while gaining insights easily.
These terminals can become a single point of contact for retailers as they can accept all kinds of payments – be it major card networks such as Visa, Mastercard, RuPay, Diners, Maestro, etc., or new-age modes such as UPI and e-wallets, including PhonePe, AmazonPay, Google Pay, MobiKwik, Paytm, and more. They also provide different value-added features such as EMI acceptance and SMS Pay (pay by link).
With so many benefits at your fingertips, take the digital leap with Metra Trust POS terminals today!
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Metra Trust or its affiliates to any licensing or registration requirements. Metra Trust shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.