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Smart payment terminals lead to upsell opportunities

February 24, 2020

Smart payment terminals lead to upsell opportunities
In today’s world of retail and restaurant point of sale (POS), there’s no shortage of opportunities for solution providers to offer additional value while earning more revenue. Unfortunately, many of those opportunities are cost-prohibitive or steeped in complexities that put them out of reach for some end customers.

If your customers lack the budget or appetite for large-scale IT investments, there are still plenty of impactful opportunities within their reach, thanks to the smart payment terminals they’re probably already using.

With the shift to EMV a few years ago, most merchants have newer payment terminals that not only provide magstripe swipes, EMV dips, and NRF taps, but they also have powerful touchscreen displays and onboard computers that open the door to a variety of exciting capabilities from ISVs (independent software vendors). Here are just a few examples of how smart payment terminals can be used for more than accepting payments:

Facilitate a loyalty/rewards program—Smart payment terminals make it easier than ever for your customers to offer loyalty programs to their customers. This investment has a proven ROI that’s difficult to argue.

Collect feedback from customers—Obtaining valuable insights from customers has always been a challenge for merchants. With the introduction of smart terminals, ISVs like TruRating enable short surveys to be presented to customers via the terminal during the checkout process. Short, unobtrusive surveys during checkout do yield results and data that can more than pay for the cost of the solution.

Deliver advertisements—Merchants seem to always be tight on counter space, so why not have the payment terminal pull double-duty? Most modern terminals have vibrant color displays capable of showing customers advertisements, videos and other influential messaging that can increase engagement and drive sales.

Capture signatures beyond payments—Retailers can easily add upsell prompts to smart payment terminals for things such as extended warranties. The terminal can capture the customer’s response and signature. Outside of retail and restaurant, there are plenty of niche applications in verticals such as healthcare and banking where a smart payment terminal is used to capture the signature of a patient or customer.

Keep employee timecards—Merchants can leverage smart payment terminals for staff scheduling, timekeeping and more.

Thanks to the powerful onboard computers and displays large and clear enough to present a variety of information to customers, there are many additional uses for smart payment terminals. For more advice on how you can use your customers’ existing payment terminals as a catalyst for new POS upsell opportunities, contact Angela Lawrence, Ingram Micro’s POS and payment processing expert.