Back to Blog
Credit Card Processing

Your Point of Sale Isn’t Just a Cash Register Anymore

July 21, 2021 • by jclarknationalprocessing-com

Cash Registers

Cash registers are a piece of technology that’s well over a century old. Back when the only payment options were cash or checks, the register let a cashier type in the cost of each item, add tax, total everything up, tell the cashier how much change to hand out, and then put away the customer’s payment in a built-in lockbox. These devices would even type out a receipt as the cashier punched in the numbers.

The Advent of Credit Cards

When credit cards came around, cashiers needed a new device to record the card number. Everything became faster when bar code readers and cards with magnetic strips came around, but after that the system stayed basically the same for several decades. However, today the paradigm is shifting once again. Mobile technology allows businesses to get more features out of a single device, and these devices are becoming much smaller (aside from the cashboxes).Not only can a single device accept cash, checks, credit cards, and mobile wallet payments, they can also perform a few new functions you’d normally need a separate computer and software to handle returns.

Handling Returns

Returning products is normally a hassle for both the customer and the cashier, and large stores usually have customers who want to return things by going to a customer service counter. However, today’s point-of-sale devices come with software that makes returning items and refunds much simpler even for small businesses.

Today, there are many companies that help with returns as part of their inventory control software. Finding the right software for your business can help you manage the following key areas.

Analytics

A modern point-of-sale device can collect data like when customers show up, what they buy, and how they pay. You no longer need to count receipts, check inventory every night, or sort the information you get manually. These modern systems can tell you everything important automatically.

Inventory

While you should still perform an inventory check regularly, a point-of-sale device can automatically deduct sold goods from your stock list so you can know what to order and what you have enough of right when you contact your suppliers.

Accounting

The point-of-sale device collects plenty of information about your profits, so by adding a way to keep track of your business costs and other income sources the device can easily become your main accounting computer. Mobile devices like smartphones and tablets are already all-in-one devices, so it shouldn’t surprise you to learn that today’s point-of-sale devices are becoming something similar by adapting tablets for business use and adding the right accessories. Thanks to that, what used to be a simple calculation machine is now capable of far more.

Blog Search
Most Read Blog Articles
4 Top Square Alternatives for Small Businesses 4 Top Square Alternatives for Small Businesses July 30, 2021
High Risk Check Processing High Risk Check Processing July 20, 2021
How Mobile Card Readers Can Benefit Your Business How Mobile Card Readers Can Benefit Your Business July 20, 2021
Voice Authorization Basics Voice Authorization Basics July 20, 2021
Warren Buffet Says: “Always Have Two Sources of Income” – Why and How to do it Warren Buffet Says: “Always Have Two Sources of Income” – Why and How to do it July 20, 2021
Blog Categories
All posts 84
ACH 17
Cash Discount 11
Chargebacks 3
Clover 1
Credit Card Processing 64
Credit Card Reader 7
Educational Resources 8
EFT Payment 14
Featured 3
Funding 4
Interchange-Plus Pricing 2
Other 10
Recurring Payments 1
Security 5

    Step 1/2

    Start Processing Payments Now

    No pushy sales.Transparent, Straightforward Pricing

    Currently accepting payments?
    Yes
    No
    Approximate Monthly Volume
    $50,000 or Less
    $51,000 to $250,000
    $250,000 or More
    How You'll Process Payments
    Online
    In Person
    Over Phone
    Other
    Required Field
    Required Field
    Required Field
    Required Field
    Required Field

    Thank you!

    Your inquiry has been sent

    We will contact you asap!