Archive for April, 2010
While the advanced features of a good restaurant POS system can be instrumental in cutting costs, there are other benefits to be reaped from using a configuration that isn’t just a cash register. The ability to generate repeat business and bolster incremental sales tops the list.
If you’re like most restaurant operators, you’re constantly thinking about ways to cut costs—even with the recession’s ugly head beginning to retreat. Leveraging the advanced, yet easy-to-use features of a comprehensive restaurant POS system like pcAmerica’s Restaurant Pro Express can yield significant savings—in more areas than one.
When a card is swiped through an electronic POS terminal, an electronic request is submitted to the processing network for authorization. Upon receiving the request, the network electronically determines whether the cardholder’s account is valid and if funds are available to cover the transaction. If so, an authorization code, guaranteeing your access to the funds, is transmitted to you. Your POS terminal or computer prints a receipt for the customer to sign and return to you.
Discussions about pricing are a huge part of setting up a merchant account in preparation for accepting credit and debit cards. And it’s not unusual for merchants to scratch their heads over how the rate they will need to pay for each transaction processed is determined.
In determining whether to accept your application for a merchant account, the provider will look at the length of time you’ve been in business to ensure that you understand the market in which you operate, know the potential business risks you face, and more. Your credit rating will be examined to assess how well you have repaid past loans, and if you’ve had any liens, judgments or bankruptcies filed against you.
If you’re among retailers and restaurant operators that have yet to jump on the credit and debit card acceptance bandwagon, you’re almost definitely doing your business a disservice. For one thing, offering customers the convenience and option of paying with “plastic” increases their satisfaction—a boon to repeat business. Accepting credit and debit cards also improves […]
Experts have long pegged the average return from a computerized POS system at five times the annual investment, reflected in higher profits—for example, a $20,000 hike in profits would be garnered by a store with sales of $200,000 per year and a $4,000 annual in investment in computerization. But where do these increased profits come […]
It may only be mid-March, but retailers and restaurant operators that are reaping the benefits of offering gift cards must look five months ahead to August 22. That’s the “effective date” of new gift card rules introduced by the Federal Reserve Board in conjunction with the credit card reform law enacted in 2009. The new […]