Investing in a Unattended Retail Equipment? Here’s What to Keep in Mind
Unattended retail has been around for some time now, mainly in places such as offices and colleges. However, having NFC or credit cards option on unattended retail equipment is still a relatively new idea, as majority of the retail equipment still accepts cash. However, technology has made rapid strides and things are changing fast. Retailers are now realizing why it is important to have multiple forms of payment to provide convenience to the customers.
In you are thinking about investing in unattended retail equipment, then here are some things you can’t afford to miss:
Security
EMV (Europay, Mastercard, Visa) illegibility was shifted on the retailers on October 2017. This means that any sort of fraud taking place at unattended retail equipment due to credit card skimming will be the responsibility of the retailer and they will be liable to pay compensation to the aggrieved parties.
This applies to all vending machines, ATMs and automated fuel dispensers. This begs the question: what security measures are you putting in place to prevent this fraud?
Security is an important aspect for the customers when they are purchasing from unattended retail equipment. Customers need assurance that the information they are entering into an mPOS or POS is safe and their personal information will not be compromised in anyway. This is particularly the case when customers are buying expensive items, such as pharmaceutical products and mobile phones.
Ensure that you have tokenization and P2PE (point to point encryption) to protect your equipment from cyber criminals as well. Tokenization is a security for the data when it is being stored somewhere, whereas P2PE is security when the data is travelling from the authorization point.
NFC
Because of the emergence of smartphones, NFC (near-field communication) can be considered as one of the more popular forms of payments today. Two popular examples of NFC are Apple Pay and Samsung Pay. Customers now expect NFC to be available in most unattended retail equipment.
NFC has a long way to go when it comes to being useful in unattended retail equipment, as most mobile payments are still struggling. However one thing is for certain, NFC is the future of retail and you must think about implementing it in your retail equipment if you want to sustain it in the long-term.
Regular Updates
Unattended retail equipment has built-in software that needs regular updating to work smoothly. If one customer faces a problem with your equipment, then they are unlikely to use it in the future.
You must have a system in place which ensures that the software of your unattended retail equipment is working seamlessly.
Durability
This may seem like an obvious point, but is well-worth mentioning. If your unattended retail equipment is being installed outdoors then it needs to be more durable than the one which is being installed indoors. This is because outdoor equipment has to face several environmental elements, besides from the fact that outdoor equipment is used by more customers and is more vulnerable to theft. This makes the wear and tear on the equipment faster.
Ensure that you have environmental and shock protection for your equipment. It will be processing sensitive customer information, so this is one thing that you cannot compromise on.
About UIC
UIC is a POS solutions provider, designing and supplying POS systems and payment terminals to businesses in the US. Customers can find NFC products, EMV contactless readers, mobile card readers and everything else they need to make card payment processing faster, convenient and secure for their customers. For more details call 1-510-438-6799 or email at [email protected]
The World of EMV – Where we Stand and What to Expect
Constant efforts are been made to enhance the security of the EMV technology as more and more people adapt to it. It is safe to say that overall, we can expect better transactional security in the time to come.
If your POS system is not updated, you not only risk losing business but are also vulnerable to fraudulent transactions. For more details, visit http://www.uicworld.com/
We are a professional design manufacture service provider since 1983. Our products are reliable, affordable, secure & robust. Website: http://www.uicworld.com/
Cashless payment transactions: Why the buzz is good!
There is no denying the fact that the world is rapidly moving toward a cashless environment. However, there are many concerns about the effects of adopting cashless payment systems. Many business owners are keen to know more about how these systems work and what kind of benefits they can yield.
Experts are of the opinion that cashless transactions will greatly facilitate businesses, as well as their clients, in conducting fast and secure trade. Some countries around the world have also come up with discounts on the use of digital transactions to encourage more people to make cashless payments.
Are cashless payments convenient?
The growing trend of using digital money in mobile wallets might soon eliminate the need of carrying physical cash and even credit cards. Is this a logical move? Yes, it is!
More and more people are using online services to make purchases. These transactions can be done using laptops and mobile devices which can easily be linked to bank accounts.
Mobile phones have already changed the way payments are made. They are one of the prime examples of how convenient cashless payment transactions can be.
The process of making mobile payments is ridiculously simple: the product code is scanned or entered into the mobile and the amount required to purchase the product is deducted from the buyer’s mobile wallet account and transferred into the retailer’s wallet account.
Major advantages of cashless payment transactions
· The biggest advantage that digital money has over physical cash is that it is safer to carry around and transfer from one place to another.
· Digital money is easier to keep track of than physical money.
· Digital money has several payments options and customers can choose any one of them based on their preference. Mobile payment solutions, EMV chip cards, and magnetic stripe cards are some of the options that customers can use to make payments.
· Zero chance of fraud because of numerous security features.
· Possibility of making payments anywhere in the world without much hassle.
· Crypto-currencies, like Bitcoin, can also be used to make payments.
· Cashless payments are time saving because there is no need to handle cash physically
· Cashless transactions are more hygienic because no physical contact is involved at the time of making payments.
UIC is a reliable provider of all kinds of contactless payment systems. They offer the latest point of sale system for hospitality industry and ATM banking at very affordable rates.
To learn more about their EMV payment systems and other quality products, call: +1-510-438-6799, or send them an email at: [email protected]
It is necessary for businesses to accept multiple payment options to run effectively. Here's how you can!
For more details, visit http://www.uicworld.com/
Have you ever thought of shifting your business operations from manual to something more... advanced? In the world that we live and conduct business in, technology has become even more accessible and affordable.
Businesses from start-ups to high tiered can easily shift their operations and valuable information on the cloud or another such technological system, gaining efficiency, increased productivity and greater customer satisfaction in return. The rate at which technology is developing and adapting to current business trends is astonishingly fast but not unexpected.
There are many reasons to adopt newer and better technological systems for your small business, such as:
Improved Communication Channels
Even small businesses need a good communication channel within and outside its operations, to ensure everything runs smoothly. Cell phones and other mobile devices are excellent for this purpose, keeping employees connected and easily locatable even when ‘on the go’. This makes it easier for managers to conduct emergency meetings or correspondence meaning business operations don’t face setbacks due to late deliverance of information.
Improved communication channels means companies have the global network at their fingertips and are able to access markets around the world.
Opportunity to Make More Sales
Before the internet and other technological advancements in payment processing, small businesses were forced to process all incoming and outgoing payments manually. This increased the chance for error and meant someone had to remain on the clock for transaction management.
E-commerce payment and sales channels made it possible to generate sales around the clock, even after a business’s normal hours. Various payment processing channels ensure safe and timely transaction between the vendor and customer can take place, anytime and from anywhere.
Increased Productivity
This is the biggest advantage technology offers businesses, small or big. Productivity is very important for a business’s smooth and efficient operation. Adoption of computers in the workplace has allowed faster and more effective collaboration between employees... even across great distances. BYOB and other mobile devices (like tablets and laptops) make it possible for employees to work anywhere and at their own time.
Furthermore, advanced technological systems have automated many mundane business tasks, freeing employees to put their efforts on tasks that really matter. Taking cash payment from customers and dealing with paper receipts is no longer required, for this very reason.
Contactless Payment Technology – How Will It Help Your Small Retail Store
NFC and contactless payment systems are a fast becoming popular in the business world. There are many reasons to adopt this technology especially if you deal with a lot of payment processing, on a daily basis. The main reasons are:
o NFC payment systems are fast and convenient
o NFC payment systems offer safe transactions
o NFC payment systems help keep customer’s information secure
Looking at the many advantages of technologically advanced NFC payment solutions, is there any reason why you shouldn’t adopt this technology? See how UIC can help your small retail store with their various NFC products.
Point Of Sale Systems for Retail Businesses: A Quick Guide!
The sweet smell of hard green cash and the pleasant melody of the cash register must be addictive, but retail customers have moved towards a cashless era long ago.
Your inability to accept money in any other form than paper can be a turn off for your prospects. For the sake of your business, you need to reduce your dependency on the sweet sight, smell, and sound of cash flowing in. You need to get a Point of Sale (POS) system and start accepting multiple forms of payment. But that is not all!
Ringing Sales and Beyond
While you may think that a POS is a simple card reading device, it is actually much more than that. Connected to your cash register and a simple computer, POS is not just a device but also a complete system that allows you to manage your sales as well as the inventory.
So, when it comes to finding the right POS system for your retail business, here are a few things you should consider.
On-Premise or Cloud Based
A POS system is powered by software but there are two types of software to choose from: on-premise and cloud based. The former needs to be installed on one computer or server. These are traditional systems that work best for smaller ventures with a single outlet. If you have multiple outlets, synchronization and management becomes a hassle and may require a dedicated IT staff. Cloud-based POS, on the other hand, bring flexibility and convenience. It is fully supported and managed by a remote team of experts, and comes with better backup and synchronization abilities.
Peripherals and Hardware
Most POS systems come complete with a lot of hardware that adds to the functionality. Depending on your retail needs, you can have a simple POS with the essential register screen, card reader, and cash drawer, or you can go for smarter set of peripherals including barcode readers and receipt printers. These peripherals can also be added later as your business grows.
Capabilities of Smarter POS
Smarter POS are created not just to streamline the process but to optimize it as well. However, it largely depends on the capabilities and features of the retail POS system you have chosen. For retail, a system that offers better inventory management is a no-brainer, but you should invest in systems that improve customer and employee management as well. For instance, eCommerce integration is another essential capability you should invest in.
Whether you have a single store or a number of branches, the key to a profitable investment in POS is to find a system that aligns with your needs and that of your customers. UIC is a company known for offering a wide range of POS solutions and products for the retail sector. Visit the website to find a solution suitable for your needs.
Offering Cashless payment solutions to customers has become necessary for store owners. Have a look at a few advantages of accepting cashless payment.
For further details, visit: http://www.uicworld.com/
EMV Card Readers – A Necessary investment For the Modern Business
The deadline for American storefronts and businesses to implement EMV card payment procedures has long since passed. EMV cards are the future, and no matter how gimmicky that sounds, it’s pure and simple truth.
The bad news is that if you don’t part ways with your soon-to-be-useless credit card machine now, federal and state regulations will soon take them away, and possibly charge your business with a fine for not getting aboard the EMV train when you had the chance.
The good news is that EMV card readers are easy to install, and relevant procedures even easier to implement, thanks to services from UIC world. These have already been adopted over most of Europe and UK and the kinks have been worked out. So hopefully, American businesses will find plenty of help adopting the EMV technology.
Why Should American Businesses Start Caring Now?
For starters, EMV stands for “Europay, MasterCard and Visa.”This is now a globally implemented, standardized protocol of IC cards, and you will have to get a fancy new credit card machine, with the ability to read EMV chips, to accept these cards at your storefront.
If you haven’t gone around to implementing these changes, consider this your last chance. Without the ability to accept EMV payments, you are putting your business at a greater risk for fraud liability, in case you end up processing a counterfeit credit card. Also, soon your card processing company will also start forcing you to upgrade the credit card equipment. Make sure you buy EMV contactless readers from a trusted seller so you don’t get duped when purchasing the new machinery.
The Last Word: Ensure Your Peace Of Mind!
Make no mistake, EMV payment terminals are now a necessity for American businesses. Starting from October 2015, all businesses that don’t use EMV are now liable to pay for any fraud-related loss. This will directly impact the revenue and profits.
And it takes a few hundred dollars worth of equipment to safeguard your business from fraud liability, which you should have invested a long time ago. You will not only be protecting your customers, but your business too.
For more guidance on buying an EMV Smart Chip Hybrid Card Reader and ensuring storewide EMV compliance, call UIC World at +1-510-438-6799. As a leading merchant services provider, they can help you identify the possible products and services for all your payment processing needs.
