3 ways a smart terminal can optimize the checkout experience in your fast-paced retail environment

The suite of hardware and software that you use to accept online and in-person payments from your customers might seem like nothing more than a terminal or tablet attached to a card reader, supported by payment processing software.

In actuality, it is a powerhouse that can be a game-changer which uplifts and streamlines every aspect of the buyer’s purchasing experience. 

Learn how smart terminals can help retailers to leave their competitors in the dust while simultaneously elevating the customer’s shopping journey.

What is a smart terminal?

Smart terminals combine the old-school cash register with a “dumb” credit card terminal, and then maximize its functions with a suite of features that will help streamline your entire business.

Not so long ago, a customer-facing terminal was nothing more than a machine that read a buyer’s credit card, sent the information it retrieved to the payment processor, relayed the message of payment approval or declination to the merchant, and facilitated the settlement of funds into the seller’s merchant account. Today’s systems accomplish these vital tasks, but also do a great deal more.

Modern smart terminals are hardware-software combos that ring up payments, connect to peripherals to print receipts, and communicate with the other players in the payments ecosystem. 

Whether you have a handheld smart terminal or a countertop model, it can interface with a suite of tools that will automate and streamline the host of tasks that are essential to your success. Harness its full arsenal of powers to maximize the buying experience.

1. Streamline your inventory management.

Your smart terminal facilitates the ordering, tracking, and forecasting of future merchandise needs, boosting the client’s buying experience.

Your smart terminal can integrate with a barcode scanner to record each piece of merchandise as soon as it enters your warehouse. When something is purchased, the system instantly takes note of its change of status, updating the quantity so that you always know exactly what you have.

Thanks to the system’s reporting capabilities, you can generate a snapshot of your inventory amounts from anywhere. Never again will you be caught unawares, forced to delay a purchase, or to turn a potential customer away.

2. Speed up the checkout line with contactless payments.

Your smart terminal integrates with contactless card readers, providing a fast and hygienic solution without compromising security.

Updated terminals make it possible for purchases to be made without any physical contact between the customer and the merchant, or their equipment. This occurs via near-frequency communication (NFC) technology, a protocol that facilitates the secure transfer of payment details between two devices that are within close proximity to each other. 

The result is a transaction that is securely submitted, screened for fraud, authorized, and approved within just a few seconds.

3. Optimize personalization.

Because the smart terminal is linked to point of sale software that includes database and customer relationships management capabilities, the benefits go beyond brevity at the register to include ongoing customization and an enriched relationship.

Many shoppers want more than merely a one-time transaction with your store. Today’s savvy consumers require an individualized experience that caters to their own unique characteristics and preferences.

The magic of personalization happens because your smart terminal also records details of the purchase. These can be added to the customer’s profile and used later to enhance your long-term relationship with each consumer. 

Instead of processing just a single transaction, you can continue to entice and delight the buyer with additional product recommendations and special deals that are compatible with the purchase history and demographic details stored in your terminal.

Among the many payment solutions for retailers that are available today, smart terminals offer optimal versatility as well as a robust set of tools that will allow you to speed up an everyday purchase, transforming it into the first step in a fruitful relationship with your brand. 

If you are not already utilizing your smart terminal to the fullest, give your business the gift of efficiency at the register, and boost loyalty with a modern smart terminal.