Verifone, PAX. You know these names, but your merchants will probably need your expert help figuring out which terminal is the best fit for their business. With dozens of credit card terminals on the market, there are seemingly endless options. Add on software options, network compatibility, EMV compliance and finding the right terminal can seem intimidating.
Working with your clients is critical to your success selling terminals through making the best match for their business needs. Spend a little time up front to work through the choices and keep your merchants happy with a terminal that meets their needs.
Finding the Best Terminal Hardware AND Software
Because the terminal is the physical interface between the customer, merchant, and credit card processor, it can become the focus of all the attention. You will need to make sure that your merchants are also aware of the behind the scenes action when choosing a terminal.
Like cell phones, terminals are hardware running software on a network.
That means that your merchants are signing up for a physical device and the software and network that comes with it. Work with your client to decide what merchant services they require. They may need to run additional applications on the terminal to handle checks, gift cards, or a customer loyalty program.
Ask questions to find out what clients need from their software and network. Asking the following will point you in the right direction:
- Would you like to accept all credit cards and debit cards?
- Do you need to accept EBT cards?
- Would you like to use mobile point of sale processing?
- Will you need to set up recurring billing?
- Will you be accepting lots of checks?
- Will you need to accept gift cards or run a customer loyalty program?
You may find that a merchant is leaning towards a terminal because of brand name recognition or because they are already familiar with a certain terminal. If this is the case, you might find a product that is a perfect hardware and software fit within that brand. Otherwise, offering your merchants the best information might persuade them that switching brands makes sense. (Not all Verifones have the same functionality, for instance, depending on the processing front end application they are running.)
What Do Consumers Expect from Your Merchant?
Sometimes consumers have an expectation of what to expect when they reach the point of sale. Consumer behavior is changing as customer facing, mobile points of sale, and EMV chip terminals become more common, yet merchants may have concerns about how to handle transactions. Finding a great match for your merchants’ flow of business can help them keep business moving.
Will customers need to tip? Restaurants, bars, and cafes in the U.S. usually accept tips after the sale, so your clients may be looking for a terminal has the ability to adjust tips similar to how they are processing credit sales with a magnetic stripe. The PAX S80 is an excellent choice for restaurants that need to make a tip adjustment after the transaction, but your customers may not be familiar with the PAX brand.
As customers and employees become more fluent in EMV chip transactions, merchants will find this new payment technology easier and faster. Visa and MasterCard have adopted software that allows users to ‘dip’ their cards, speeding up transaction time.1 While EMV Chip and Pin transactions are more secure, customers in the US are more accustomed to verifying their identity with a signature.2
As you work with merchants, listen to their concerns and how they hope to process credit cards. For many merchants that need to keep a busy line moving quickly, the Verifone VX520 terminal is an excellent choice. This is a widely used machine that is familiar to customers and merchants, but depending on the application it is running, may not be able to process EMV transactions for all card brands.
Making Sense of EMV Compliance
While selling terminals, you are probably hearing a lot of questions about EMV compliance. All of the terminals and software offered by Integrity are EMV compliant. Integrity is dedicated to providing the best, most up-to-date terminals and software to your merchants.
Also, merchants may be concerned about their liability after the official shift that took place in October 2015. Issuers are pursuing EMV chargebacks as expected when the change took place. Educating merchants and their employees about how to process transactions with the new terminals will help reduce EMV related chargebacks.
Finding a terminal that is the best match for the industry and business can help ease the transition to using EMV Chip technology. Integrity can help you provide answers about EMV compliance and give your merchants confidence in their EMV status.
With a wealth of choices, selling terminals is all about finding the best match for your merchants and providing the best supporting merchant services. Integrity has you covered with the latest from Verifone, PAX and more. Contact us today!
- Ginovsky, J. (2016, April 28). MasterCard, Visa Seek to Speed EMV Transactions. http://www.bankingexchange.com/news-feed/item/6213-mastercard-visa-seek-to-speed-emv-transactions
- J. Jenkins. (2015, Novemeber 7). Chip and PIN Credit Cards Are Better Than Signature Only Cards — Here’s Why. http://www.fool.com/investing/general/2015/11/07/chip-and-pin-credit-cards-are-better-than-signatur.aspx