Some Telltale Signs Your Business’ POS System Is Becoming Obsolete

We’ve just left the holiday season, in which many merchants do more business than any other time of the year. If this is true for your business, the influx of customers and credit card transactions during the holiday season may have revealed some shortcomings in your POS system’s hardware and software that you’d like to resolve. If you are looking to upgrade your business’s POS system, read on for a list of questions that can help you determine if it’s time to upgrade…

1. Is your POS system only compatible with magnetic strip cards?

Due to recent network liability shifts, merchants may be liable for fraudulent charges if their POS systems are not EMV^® equipped. Upgrading to accommodate EMV^® chip-based cards will not only protect your business from incurring charges from fraudulent charges and ensure more secure transactions, it will also serve to provide a variety of payment methods for a broader customer base that is increasingly being issued and paying with EMV^® cards.

Speaking of variety, you may notice that some customers are also moving toward utilizing contactless and mobile wallet options. As the realm of mobile technology continues to expand with improvements to smart phones and tablets, many of your customers may be looking to conduct business through these devices. Not only do contactless and mobile wallet options provide customer convenience, but they also put your business at the forefront of cutting-edge technology.  

2. Is your POS hardware more than 6 years old?

Although appearances aren’t everything (it’s said, “Don’t judge a book by its cover.”), they do matter a great deal to how customers perceive your business. Apart from the wonderful customer service you and your employees undoubtedly provide, the actual hardware, namely the actual equipment used to conduct transactions, can speak volumes about your business. Although your old hardware may be working just fine, it may look like it’s seen better days. Upgrading to more modern, sleek, and innovative equipment may help keep your business relevant and thriving.

3.  Does your POS software frequently crash or freeze?

Software that freezes and crashes frequently is perhaps the most detrimental problem out- dated POS systems can cause. The bottom line being, if you can’t process credit card transactions, you’ll be losing money. And, these days, the great majority of your customers will probably be paying with credit cards, so you’ll be losing a lot of money. Installing new and current software for your POS systems, with excellent IT support, is critical for the vitality of your business. Additionally, remember to continually upgrade and update your software, so that you can avoid any unnecessary headaches.

4. Has your POS system caused customer experience to suffer?

If you’ve answered ‘yes’ to some or all of the questions above, then customer experience is probably suffering at your business. The POS experience is the last exchange you have with customers, and it’s a golden opportunity to secure future loyalty from them. Any inconveniences or hold-ups at the POS may mean the difference between a one-time customer and a repeat one. So be sure to upgrade your POS systems today, so that you can offer the most modern, efficient, convenient, and reliable POS experience to your customers!