Nets explains payments
There’s a lot of decisions to make, when opening a new store. One of them being which payment terminal to get. In this blog article, you’ll learn more about the different types of terminals, which situations and types of stores they are suited for and whether you should rent or buy a terminal.
When choosing a payment terminal for your physical store, you need to consider what your customers’ and your own needs are. Do you need to accept payments at a fixed payment point, such as the counter in your store? Do you want to serve your guests at the table in your restaurant? Or do you need a solution that is integrated with your cash register?
A portable terminal is ideal for everyone who needs to bring the payment terminal to the customer at their table – like restaurants and cafés, and for businesses on the go, that need a terminal for e.g., fairs and festivals.
With a portable payment terminal your store will always be connected, regardless of the connectivity type. It can be used in 4G, wi-fi and Bluetooth modes and even paired with compatible tablets or cloud based mobile ECRs (Electronic Cash Register). It comes with a charging station, which makes charging convenient. The terminal can be placed there whenever it is not being used.
This type of terminal is a great choice for setting up a new store as you do not need to worry about setting up a broadband connection just for the terminals, configuring firewalls or managing wi-fi passwords – it comes with a built-in mobile connection. A portable terminal is also convenient because it can be handed over to the customer during payment.
As your business grows you may want to introduce an ECR into the store. A lot of portable terminals can be integrated with such a setup. The connectivity options are numerous and your ECR provider will determine the most appropriate one.
A stationary terminal is perfect for stores, where payments are made at the counter, like florists, hairdressers, and dentists.
The terminal can be mounted on a pole to keep the counter free of cables. Stationary terminals also include a privacy shield to protect the PIN from potential fraudsters.
This type of terminal provides a lower price point than a portable terminal and is perfect if you don’t need the mobility. The terminal is always turned on and connected to your existing broadband network. It is also a dependable choice if your store is in an area of poor mobile network coverage.
An integrated card terminal is ideal for those who have a large number of daily transactions and need integration with an ECR. The solution ensures fast transactions, which minimises queues at the checkout, for the benefit of both your customers and your revenue.
As these types of terminals have no receipt printer, they depend on the ECR to print the full customer receipt and control the terminal. No end-of-day activities are required, and you typically don’t need to access the terminal settings for any functions. Payment providers often work with a wide range of ECR partners to ensure compatibility and seamless operation of the terminal.
Regardless of which payment terminal is right for you, you can choose to buy or rent it. As it is a high one-time cost to buy a terminal, most people choose to rent it instead and pay a monthly fee. In addition, if you rent the terminal, free updates and replacement service are often included without warranty period considerations in case of a broken terminal.