A decade ago all a retail store needed was a close connection with its regular customers who would handover a slip and the retail shop owner would pack the stuff and get it sent or the customer picks the same in a while, things were simple and customers and shopkeeper knew each other.
Back to the present, a lot has changed, to say the least. Firstly, people are looking more for the availability, experience, and speed of transaction than knowing the shop owners. Secondly, while the shop owners still wish to know more about their customers. However, it has moved from knowing them personally to getting to know more data points about them as the customers are wide and spread.
Today, customers look for retail stores which offers a wide range of products and a good shopping experience, which is why a retail store today needs a POS machine as it offers a lot to the customers and eventually to the retail shop owner. Here are the top 4 reasons why your retail store needs a card swipe machine.
Better Experience
Customers nowadays seek a better shopping experience and making seamless payments is a key part of that experience, nicely arranged aisles where they can see and pick the products, availability of top items as per the shop’s category and payment options like POS machine and payment wallet acceptance ensure they enjoy the shopping experience and keep returning to you for their shopping requirements.
Get More Customers
People today are always on the move and the only thing they have less is the time to spend, so visiting ATMs frequently for withdrawing cash is an absolute no. They visit shops which offer varied payment options that include POS machine and payment wallets. Thus, it is important for the retail shops to have a card swipe machine in their shops to eventually get more customers and let the customers in your shop buy more than they came in for with the impulse purchase as they rest assured that the shop will accept digital mode of payments.
Access to Unsecured Loan
Retail shops need funds to grow their business as to earn better margins they need to buy the goods in bulk from the distributors and manufacturers and they need to pay in advance to earn those margins and special offers that come along with it. However, retail shops had limited success in getting small loans as the traditional lenders asked for collaterals which most retail shops failed to produce. Having a card swipe machine helps the retail shop owners to get access to unsecured business loans, as the new age digital lenders like Indifi analyze the digital trace of transactions to assess the creditworthiness of a small business and these digital traces of transactions are available along with the POS machines. Thus, the retail shop owners could get easy access to the POS System loans without having to bother about collaterals or go through the lengthy process of the traditional lenders which takes weeks or even months. The top digital lenders like Indifi offer a decision on business loans against POS machines as quickly as within 24 hours itself.
Easy Loan Repayments
The card swipe machine not only helps the retail shop owners to get access to quick and simple business loans or the machine loan as some refer to it commonly these days. The POS machine also helps the shop owners to easily manage their business loan repayments. These loans are based on the transactions against the card swipe machine and the top digital lenders like Indifi also offer the shop owners to integrate their repayments with the supermarket software, which means the shop owners do not have to worry about regular monthly installments and the loan repays for itself with the customer transactions. Thus, a retail business pays more when they earn more and pay less when they earn less, which helps the retail shop owners to run their business better as these machine loans are completely in sync with the business patterns.
Thus, get a card swipe machine for your retail store now and avail multiple benefits.
