Restaurant Pos System - Using Technology In Your Business
. While the system broadly refers to the whole cash register, the business and retail sector uses the term "POS system" to identify the smaller terminal that often sits next to the register for handling charges on credit cards.
The terminals work just like the credit card systems that customers are used to encountering at their favorite stores. When a customer is charged for their order, their credit or debit card is swiped at the terminal. Their bank approves the charge, and the payment is cleared by the terminal. Most systems automatically calculate the suggested tip rates, allowing the customer to choose to add it directly to their bill. The customer authorizes the payment, either by signing the receipt or entering their PIN into the terminal, and the transaction is complete.
As with all new advances that accompany developments in the restaurant and larger business world, POS technology can present some great strengths, but also some challenges.
One of the best positive considerations is the ease the system provides for your customers who often pay their shop bills on a credit or debit card. For your business, the system means less cash to be handled since the payments are all being handled electronically. This means cutting back on trips to your bank, and also means there is less cash on hand that might get lost or stolen.
A negative consideration, and reality for any new system adopted by a busy restaurant, is teaching your staff how it works. Most wait staff are already very busy, so it's hard for them to find the time for training. But once they do, they'll certainly appreciate the ease with which payments can be processed. Another important technical consideration is a requirement that each terminal have access to the internet, directly or through a telephone outlet, so that bank transactions can be processed.
Restaurants considering adding a POS system should contact their bank. Most banks provide the full system, including helping to install the terminal and providing training to your staff. The bank will also explain the various costs involved with the different system options. It's important to ask about per-transaction charges, as some banks generate significant income through these fees. If your bank can't meet your needs, or if you feel that their fee structure isn't what you'd prefer to pay, shop around. There are many providers, and many financial institutions will offer competitive packages to get your business.
Accepting credit and debit cards through a POS system can be great for your customers, and increase the value of your business. Contact your bank today to see if this is the best thing for your restaurant.
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