Man confused by EFTPOS Machine

Retail shops, restaurants, hotels, and many other workplaces are upgrading their outdated cash register to POS systems which are more efficient. This way, companies can track inventory and record various types of transactional data at the same time. They can also do real-time tracking of everything related to a customer’s purchase – including tax information, which authorised personnel can easily access whenever they need to.

Companies who successfully transition to the newer POS systems typically then require their staff to undergo the appropriate training on how to operate and use these technologies. EFTPOS NZ, the country’s largest provider of EFTPOS terminals and payment solutions, has created an EFTPOS training checklist which makes it easier for companies to train their staff regarding POS machines.

The training guide contains a step by step process on the basics of operating EFTPOS systems, which we’re going over in detail in this article. Read on to find out more!

EFTPOS Training Checklist

Turning Your EFTPOS Machine On

Mobile terminals require you to hold down the green button for five seconds – it’s as easy as that! Countertop EFTPOS terminals are always on as long as they are plugged in.

Putting Through a Purchase

Not much is required in this step. All you need to do is to press the Menu button, select Purchase, enter the purchase amount, and simply click on the Enter key.

Changing the Paper Roll

Most EFTPOS Machines won’t process purchases unless there is paper correctly placed in the paper roll compartment. When it’s time to change the paper roll, all you need to do is to gently pull the lid release, remove the old roll and place the new roll inside so that the end hangs out the back. Then close the lid firmly and press the # key to auto feed the paper.

Processing a Settlement Inquiry

When it comes to processing a settlement inquiry, all you need to do is select Menu, scroll down and select settlement, then select inquiry. You will then select the current date and a receipt will print displaying EFTPOS totals for that day.

The training guide will also offer detailed recommendations on how to go about offline mode and troubleshooting. To get a detailed look, you can review the EFTPOS training checklist here.

Training and Service

POS Systems are made up of both hardware and software, and can be as simple or as elaborate as you want, as they can be customised to fit the needs of your business. Here at POS technology we offer to provide your business with full training and service on all products we sell. If you need assistance in terms of teaching your staff, POS Technology can help – just say the word, and we can send a technician to your actual business site to help with the set-up and management of your machines. We also service Casio cash registers, POS printers, touch screen terminals, and more.

Meeting Industry Demands

These days, successful businesses can’t afford to be inefficient. Through the help of POS systems, businesses can become more effectual, reduce their administrative costs, streamline their record keeping, and overall, improve customer service.

For all your POS needs

Talk to POS technology! Our team of specialists are more than willing to assist you in choosing the correct POS system that will meet the specific demands of your business. We provide the latest EFTPOS terminals from dial-up, broadband through to mobile EFTPOS terminals. If you are considering a point of sale system, enquire today to learn more about our range of POS equipment, and get exclusive deals!

Future of EFTPOS

EFTPOS is a pervasive part of New Zealand society. Compared to the rest of the world, we are the leading users of EFTPOS – approximately two thirds of all our transactions are made through electronic payments. It’s also not uncommon to hear the word ‘EFTPOS’ being spoken at least once or twice on an average Kiwi day. Whether you’re buying coffee, paying for groceries or even making 25cent gum purchases at the dairy, we Kiwis use EFTPOS for pretty much everything.

But when and where did EFTPOS start, and where could it take us in the future?

A Quick History

EFTPOS, or electronic funds transfer point of sale, started its humble beginnings in NZ in 1985 at petrol stations. Four years later in 1989, it was officially launched across the country and quickly ramped up in popularity. By 1990, Paymark reports processing 1 million transactions per month, and four years after that in 1994, their processing volumes were exceeding 10 million per month.

EFTPOS Today

The rising trend of EFTPOS use over time hasn’t changed – it’s only magnified. As the more time passed and as the population grew, Kiwis have become more and more reliant on EFTPOS when paying for products and services instead of cash or any other payment method. Today, every Kiwi has an average of 1.5 EFTPOS/debit/credit cards – that’s around 7 million plastics in the entire country, give or take.

The most recent numbers from Stats NZ reports that Kiwi cardholders made 143 million transactions across all industries in October 2017, totalling at a whopping $6.9 billion. Additionally, Paymark reveals that on Boxing Day 2017 alone, $139.0 million worth of transactions went through their network.

The Future of EFTPOS

Due to our rampant use of EFTPOS, providers are always seeking new ways to improve the technology by making it more convenient and expanding its scope of use. Below are some prospects of where EFTPOS technology might be in the future:

  • Mobile Pay – Many EFTPOS terminals now offer mobile pay. Mobile pay allows users to store their card details in their smartphones and then simply use those smartphones to pay for transactions. Similar to payWave or contactless payment methods, mobile pay is enabled through Near Field Communication (NFC) technology with mobile apps such as Apple Pay or Google Wallet. Mobile Pay still hasn’t quite caught traction in the NZ market yet, but it won’t be long before people can simply hover their phones over a terminal (as we would for chip cards), making POS transactions even faster.
  • Online EFTPOS – Online EFTPOS isn’t necessarily new, but it’s still in its very early stages. Paymark, with ASB and Cooperative Bank, allows customers to purchase online by using their mobile banking application. This means you don’t need to enter in your personal details or your card details (and its related security information) when you shop online – your phone is your EFTPOS card. The whole process is faster, simpler and, most importantly, more secure.
  • Biometric EFTPOS – This one is a bit sketchier than its counterparts, but it’s definitely in the works. Making purchases using only our fingertips or even facial scans is a possible future, and is already the present for some countries including the UK, England and Japan.

With all that’s in store for EFTPOS and its strong presence in our society, perhaps it’s about time your business gets a point of sale system upgrade. POS Technology is one of the best EFTPOS providers NZ wide, providing only the latest in cutting edge EFTPOS technology.

Talk to us today at 0508 2 POS TECH to get access to New Zealand’s largest POS service, support and sales organisation.

POS Marketing Upselling at Coffee Shop

A customer’s buying journey doesn’t have to end once they reach the counter. In fact, your shop counter is one of the crucial places in your store where you can maximise sales while building great customer relationships at the same time.

Make the most of your customer’s shopping experience with these great point of sale (POS) marketing tips on how to upsell while your customer reaches for their EFTPOS card!

1. Suggest related products.

This tip is highly effective especially for first-time upsellers as it isn’t very difficult to pull off. If your customer is picking up a new pair of sneakers, perhaps suggest a new pair of socks. If they’re buying drinks, offer some fries to go with their beverages. Complementary products sell more because customers may not realise they need them, or didn’t initially notice them in your store. Weather-related items are also easy to upsell, such as hats in the summer or hot chocolates in the winter. The trick is to take on a customer mindset to find out what other products they might want to purchase that require little convincing.

2. Stock cheap, impulse products at the counter.

Stocking or placing cheap and impulse-buy products on the counter is a great way of passively upselling to customers who have already made the commitment to spend their money at your store. At a retail store these could be little accessories such as phone cases, and for a café, it could be small cookies that would go great with their coffees. Novel items are also great for stocking at the counter since they are likely to capture attention.

3. Emphasise value and discounts.

Customers want to get great value for money, so don’t forget to remind them of the awesome discounts or offers your store is promoting at the moment. Remind them about your great buy-one-get-one (BOGO) deal, or that sweet 20% off discount if you buy more than one item. Surprisingly, a lot of customers won’t pay attention to your signs so a verbal reminder never hurts, and may even provide a pleasant surprise for your customer.

4. Gain customer loyalty.

Does your business have a loyalty card system or a VIP mailing list? Encouraging your customers to come back for future services by giving them a loyalty card or by sending them special promo e-mails is a great way to secure customer loyalty. And don’t be afraid to add an extra incentive either. If they sign up, giving them a 10% discount right then and there will encourage customer satisfaction. A great timing for this might be when they’re waiting for their EFTPOS transaction to go through, so time your pitches carefully.

5. Plan and prepare with your POS.

A good POS system is an integral part of your business as it ideally keeps track of important sales information so you can plan and prepare for upselling in the future. Looking at the stats and finding your customers’ favourites and go-to items will help you identify exactly what to upsell.

A customer’s journey only ends once they walk out the door, so make the most of your customer interaction by remembering these great marketing tips for upselling at the counter.

If your business is in need of an integrated POS system solution, contact us at 0508 2 POS TECH and we’ll help you improve your sales with POS marketing today!

Customers Using POS Machine in Cafe

Whenever a POS machine stops working, most people tend to panic, especially when it stops working while you’re serving a customer. Halting all customer transactions mid-way can cause an unfortunate loss of customers, and to make things worse, calling up your POS technician or technical support team can take a very long time.

However, don’t panic! Most POS problems are common and can be solved by simple troubleshooting. Here are some quick and easy ways to solve common POS machine problems.

1. My POS isn’t printing!

Pop the lid of your printer and make sure the thermal paper/printing paper is set correctly. It should be printing on the right side of the paper, normally feeding from the underside up.

Otherwise, your POS may have just ran out of paper, so keep some print rolls handy and replace the empty one correctly. The same course of action is advised for replacing ribbon inks.

2. My machine isn’t responding!

A lot of technicians will say, “Have you tried turning it off and on again?” when you call them because a simple reboot should be enough to solve this kind of problem. If your machine isn’t responding or is frozen, restart your machine, or remove your power cable and then reconnect it after 10 seconds.

3. My machine isn’t connected!

Connectivity problems normally arise when you configure your networks. If you’ve recently changed your Wi-Fi password, reconfigure your POS network settings and enter the new password. Otherwise, reconnect or replace the network cable and check all telephone lines if your device is wired to broadband/dial-up.

4. My machine isn’t reading the card!

Keep trying to swipe a customer’s card with different speeds to ensure your terminal can properly register the magnetic strip. Additionally, older cards will normally have chip or strip problems due to wear and tear, so just keep following your terminal’s instructions until it eventually works. If your POS still can’t read the card, check whether or not it can read other cards.

As all these POS problems are common, it’s essential to train your staff to deal with them beforehand so they are prepared to take the appropriate actions should the need arise. Remembering these easy-to-follow troubleshooting tips the next time your POS machine encounters common problems ensures that you minimise down time and keep your business flowing.

If you come across bigger issues regarding your point of sale system, keep customer support contact details on-hand and ensure that your POS providers offer good customer service support.

For New Zealand’s largest provider of all things POS, contact POS Technology today! We have all the latest technology and reliable customer support services to ensure your business is always on track even at the most crucial moments. We have over 30 onsite technical support staff nationwide to support you – we’re only a quick call away.

Talk to us about for amazing POS solutions at 0508 2 POS TECH today!

New Zealand loves EFTPOS

EFTPOS is a part of almost every New Zealander’s day-to-day living. Every Kiwi owns at least 1.5 EFPTOS cards or credit cards. EFTPOS is used for at least 60% of all NZ retail transactions, and EFTPOS transactions increase in monetary value every year. We even have our section on the EFTPOS Wikipedia page, so it’s therefore safe to say that New Zealand loves EFTPOS more than any other country in the world.

But why do we Kiwis love using EFTPOS so much? Below we’ve outlined the many advantages of using EFTPOS over any other payment method.

It’s fast.

It’s no secret that flipping your wallet open and swiping your card is faster than paying with a note and then waiting for the cashier to give you the right change. Furthermore, many EFTPOS terminals now include contactless payment method technologies such as payWave or even mobile payment (Apple Pay, Android Pay, etc.), further speeding up the process with “tap and go.”

It’s convenient.

Let’s be honest – we Kiwis are all about making things as convenient as possible. If there’s an easier way to do things, we’ll find that way and probably stick to it. Carrying one tiny card is much more convenient than carrying notes and coins. On top of that, recent technology has also blessed us with mobile banking applications. These make it fast and convenient for us to track our EFTPOS transactions. Furthermore, with mobile banking we can transfer funds, set weekly payments, and even do admin-related actions such as lock, cancel, or replace cards.

It’s secure.

EFTPOS cards are secure because they require a secure PIN code before any payments go through. No more dropping cash or losing coins – everything is in your hands and in your card. EFTPOS transactions are also made safer by your bank of choice. If you lose your card, cancelling a lost/stolen EFTPOS/credit card and getting a new card is a relatively easy and fast process.

It’s low-cost.

This one applies to the retailers/businesses themselves. In other countries such as the UK, businesses set a minimum amount you have to spend that allows you to use your EFTPOS card. And this is because the companies that provide the EFTPOS technology set a minimum fee for using this technology. Paying for smaller transactions with an EFTPOS card, e.g. anything under $20, might be frowned upon overseas. Here in NZ, you might see similar rules, but only for credit card purchases. The fact that there’s no minimum spend limit on EFTPOS transactions encourages the use of EFTPOS cards on both ends – for the customer and for the business.

EFTPOS is popular in New Zealand because it’s fast, convenient, secure, and low-cost for business, so it’s not going away any time soon. EFTPOS use in New Zealand frequently experiences annual upward trends. In fact, Paymark revealed that EFTPOS transaction values were up 6.5% for Boxing Day 2017, compared to 2016 EFTPOS spend.

What are you waiting for? If your business needs an EFTPOS machine, you’ve come to the right place. POS Technology is one of the best EFTPOS providers NZ wide, delivering only the best in point of sale and EFTPOS service and support.

Simply get in touch at 0508 2 POS TECH for the best POS solutions available in the country!

Choosing the right cash register

Choosing the right cash register is crucial to making sure your business can operate at one of its pivotal points – the point of sale (POS). A cash register carries out a business’s main responsibilities: ensuring a smooth transaction, tracking your enterprise’s inventory and of course keeping your earnings safe. It should be no wonder then that a considerable amount of time and thought should be placed when making the final decisions on your business’ very own cash register – what it should look like, the features it has and how much you should ideally spend.

To make the process easier, we’ve outlined a few simple steps that will help you choose the right cash register for your business.

Step 1: Evaluate your business.

Your business’ needs should always be priority when it comes to choosing your point of sale system. Consider your business’s size, inventory and overall purpose. A cash register for a restaurant will look different from a cash register for a dental practice. Moreover, if your business is product-oriented, you will want to consider your inventory’s size, and whether or not you’ll need more than one. A POS system should last you a long time, so it’s important to think about what lies ahead for your business in the near future.

Step 2: Think about extra features.

As mentioned before, there are different types of cash registers for different types of business. Extra features such as touch screens prove useful for retailers and hospitality, as the service user interface can be integrated with processing transactions. Small but important details such as the kind of printing – ribbon or thermal – should also be considered, as ribbon might be cheaper upfront, but frequently buying ink might quickly rack up costs. Other things such as optional security features might also be beneficial depending on the nature of your business.

Step 3: Consider the service.

A good POS system provider will offer support service as well as good-quality hardware. Make sure your considered provider asks you the right questions so they can give you exactly what your company requires. Support services for updating your system, troubleshooting and just general customer inquiry should also be available in case you run into trouble with your machine in the future.

Step 4: Keep looking.

It’s easy to jump in and decide on a cash register that’s appealing and matches your business criteria requirements. However, it’s also essential to widen your scope and canvas for other options. If you’re looking for cheaper alternatives, maybe a second-hand machine will be enough to suit your present needs. Otherwise, don’t make any abrupt decisions before you’ve seen all your options because you might find something better or cheaper.

Finding the perfect POS system can be time-consuming, but it’s rewarding in the long run if your cash register will provide great service to you for many years to come. If it fits the bill, you may also want to think about investing in an EFTPOS machine to further upgrade your POS system.

Contact 0508 2 POS TECH today for the best point of sale service and support in New Zealand!

Types of EFTPOS machines for small business

Electronic payment is now the prevalent method of payment in New Zealand. As a result, EFTPOS machines are now considered an essential for every business, no matter the size. There are a wide variety of EFTPOS machines available out there suitable for every business – including small business – and the type of EFTPOS machine your small business should be using depends on the nature and needs of your business. Different businesses trading in particular industries need different terminals that have their own special features and benefits.

Below we’ve outlined different types of EFTPOS machines suitable for small business use.

Countertop EFTPOS

A countertop EFTPOS terminal is the classic choice when it comes to electronic payments. These EFTPOS terminals are used in a variety of industries including hospitality, retail and other service-related businesses. A countertop EFTPOS terminal is perfect for brick and mortar storefronts, able to connect to direct broadband/Wi-Fi connections. Nowadays, most countertop terminals have Tap & Go contactless payment capabilities such as payWave or mobile payments.

Countertops also give businesses the flexibility to choose either one or two-piece terminals. For most small businesses, a one-piece terminal may be enough, but high-traffic businesses such as cafes and retail shops might want to invest in two-piece terminals. The latter provides faster transaction processing as both merchant and customer make separate actions independently at a maximum distance of 3m.

Mobile EFTPOS

Mobile or portable EFTPOS machines are ideal for businesses that are on the move. Mobile EFTPOS terminals are normally connected to a mobile network (2G/3G or 4G) that allows them to work wirelessly. If your company offers site-to-site services such as electrical work, plumbing or the like, then investing in a mobile EFTPOS terminal is a smart decision. This allows for immediate payment after your work is done so you don’t have to chase invoices and payments. Mobile terminals also generally offer contactless payment methods, further speeding up transactions.

Integrated EFTPOS

These days, EFTPOS terminals and point of sale (POS) systems are often integrated. Connecting your machine hardware to a single merchant software helps for faster processing and accurate transactions. This eliminates inaccuracies as the amount tendered on the POS will match the amount on the terminal. Furthermore, integrated EFTPOS machines keep track of sales, inventories and other useful information, allowing you to look up and analyse your sales data in a fast and convenient way.

It is indeed true that small businesses are the backbone of our economy. Discover opportunities for success and grow your business with an EFTPOS machine from POS Technology today! POS Tech is guaranteed to have the perfect POS system solution for you, providing only the latest technologies in countertop, mobile and integrated EFTPOS.

Call 0508 2 POS TECH today for the best in POS support system infrastructure in New Zealand.

Impulsive Spending

A lot of money-saving advice includes ditching plastic EFTPOS or credit/debit cards and using physical cash instead. But does this really work? Many money-savvy individuals suggest using cash in bills and coins instead of cards to cut down on unnecessary spending because making purchases using electronic payment methods may encourage impulsive spending.

Here are some of the biggest reasons why using your EFTPOS card instead of cash allegedly encourages impulsive spending (with our verdict below):

 1. “Out of sight, out of mind.”

EFTPOS cards carry digital money, which doesn’t possess a physical form in the real world. For most people it feels like having almost imaginary money that’s just floating in our world’s endless stream of data. Because people can’t really see their money go down in value in real time, it can become easier to spend money on impulsive purchases like excessive drinks at a bar or a new pair of shoes on sale.

Paying electronically also gives the option to delay confrontation with the reality of our bank account statements. We can clearly see our cash dwindling as we spend more, but we don’t have to look at our bank statements unless we really have to.

2. Giving up physical money feels painful.

A study from the University of Toronto revealed that giving up physical money, especially bills, can be a painful experience. Different payment methods trigger different levels of discomfort, and it turns out that “losing” cash triggers more uncomfortable feelings compared to other methods.

We seem to be more attached to physical cash than ambiguous EFTPOS cards because there’s a clear exchange or trade happening, making us value our purchases more.

3. Paying with cash is inconvenient…

And slows the buying process down. In the amount of time it takes for people to reflect on how much physical cash they have left, and then counting the bills and coins they’ll need to fork up for the purchase, people have more time to change their minds and just say, “Actually, you know what? I’m good.”

The Money-Saving Verdict

Although the evidence suggests that people are more reluctant to spend money when using cash, ultimately it all comes down to practicing good spending habits. EFTPOS cards, credit/debit cards and cash are only means to the same ends. And while using cash helps, classic money-saving tips such as budgeting, checking your bank balance regularly and self-restraint are common practices that we can turn into good habits over time.

As long as you are financially responsible and diligent with your budgeting, having an EFTPOS card and saving your money with a bank can reap great benefits over time. An EFTPOS card is easy to store and set-up, and actually losing it doesn’t feel so bad as losing cash because dropping your card doesn’t mean you’ve lost your money – it’s still safe in the bank.

Most Kiwis prefer paying with EFTPOS because their advantages far outweigh their disadvantages, and as a nation we use EFTPOS to make purchases of any kind. And despite being reliant on EFTPOS cards, many Kiwis boast hefty savings accounts.

Does your Kiwi business have an EFTPOS machine that caters to your customers’ needs? Here at POS Technology we provide reliable POS systems and amazing support to help you satisfy your customers.

Talk to us today at 0508 2 POS TECH for the best in point of sale solutions in New Zealand!

Point of Sale System in Restaurant

A highly-functional point of sale (POS) system is crucial to a business’ success. The latest technological updates have allowed us to streamline vital systems in our business to our POS system, making it easier than ever to sell products and services. However, many businesses find themselves making mistakes while using their POS system, which significantly reduces its efficiency and cuts down overall business productivity.

Preparation is key for preventing point of sale mishaps. We’ve listed down the most common point of sale mistakes and how to avoid them below:

1. Choosing the wrong POS.

Are you in tune with your business needs? If not, then you’re likely to make this first mistake. Choosing the wrong POS can cause unwanted stress and even more unwanted costs in the long run – negatively affecting your business’s workflow. You may choose the wrong hardware, software, or even the wrong POS provider.

Dependable technical support and service as well as highly functional physical systems go hand-in-hand when choosing the best POS system. It’s important to look at all your options and take your time when making this decision so you can find the right POS for your business and avoid this problem altogether.

2. Not training your staff properly.

What good is a great POS system to untrained staff? Your POS is only as good as its users, so make sure all your staff are trained on how to use it properly. Misuse of any POS system can lead to disastrous consequences, such as troubleshooting errors, freezes and even loss of data or customers.

Right when you install your new POS system, make sure to train at least one or two staff on how to use it properly, and they in turn can train others. This will definitely pay off in the long run when your staff can pull up information with ease and serve your customers proficiently.

3. Not making the most of your POS.

POS systems are powerful tools but only if you’re using them to their fullest potential, so make sure your vendor teaches you everything there is to know about your POS. More often than not, they have great software capabilities that can be neglected. Ask for a manual if you have to.

Database marketing, stock tracking and customer sales analyses are some of the great benefits of cutting-edge POS systems, so make the most out of it because a great POS is way more than just a glorified cash register.

4. Neglecting POS security.

Don’t fall victim to fraud, hacks or unwanted information loss – always make sure your POS is secure. Your POS can be so crucial that it runs your business, so make sure to encrypt and back up all of your data and networks. Installing up-to-date antivirus software also serves to protect your POS.

Problems with your POS system can be avoided from the very first step when acquiring one – that is, choosing the right providers. Choose POS Technology today to get the best POS system for your business and we’ll help you avoid all these mistakes from the outset to keep your business running as smoothly as possible.

Talk to us at 0508 2 POS TECH today for the best in POS solutions in New Zealand.

Pile of unorganised receipts

In the day-to-day hustle of business life, it can be hard to keep track of the receipts printed by your EFTPOS machine. The problem is, these little pieces of paper are essential to the business accounting of almost all retail-based businesses. If you’re using an EFTPOS machine, you need to hang onto your receipts, so today we’re going to look into some tried and true ways to manage them.

Why Save Them?

Your first question here might be why on Earth you even need to save these fiddly little bits of paper. We’re surrounded by technology, so it can feel strange developing an attachment to something so small. In reality though, receipts act as proof of every face-to-face transaction in your business, which makes them essential to your accounting.

If you are a retail-based business (which most businesses that use an EFTPOS machine are), then you are most likely using a cash-based accounting system. This just means that you only recognise something as income when the money actually changes hands, rather than using an invoicing system.

EFTPOS machine receipts are essential to calculating your revenue and subsequent profit when you use cash basis accounting, as they are the proof of every cash-based or electronic transaction that has occurred that day. Thus, best practice is always to keep them and put them on the books to check everything is balanced out.

Tips and Tricks

From the professionals in all things EFTPOS NZ, here are the trade secrets of perfect receipt tracking.

1. Keep track of them.

As anyone who has worked in the retail industry knows, each individual business has their own way of handling their receipts. Some have a spike right next to their machines where merchant receipts go, others have a section in their cash-drawer, and still others transfer electronic versions of all their merchant receipts into a folder for the end of the day. Whatever your method is, step one when making sure you’re doing your accounting properly is to choose a method that works for you and institute it consistently.

2. Check-in daily.

Ideally, anyone running a business will check in with it daily, but this is especially important when you run a business that has a cash-based income. It is absolutely essential that you use your stored receipts and transcribe them into a format that makes it easier to interpret what you want from them. You have a couple of options here:
• Use a spreadsheet application to keep a ledger.
The key here is consistency, you have to go into the spreadsheet at the end of every day and input each transaction. If business is booming, you don’t want to fall behind.
• Outsource your bookkeeping.
This is a great option if you don’t mind someone else handling your receipts, because you can get them to document your daily transactions and send the finished documents to your accountant. This will save you valuable time, and you’ll be able to check-in as often as you like, try for a few times a week.
• Use accounting software.
Accounting applications like Xero are great for this, because you can use a mobile application to transfer your receipts into electronic records. Said software then calculates your daily revenue and profit for you, and stores it in a cloud-based system, so if your computer dies you can be sure that you haven’t lost any valuable data.

3. Implement an electronic method.

If you don’t already utilise an electronic POS system for your receipts, an automated process will save you an enormous amount of time and money. The right one will provide you with the option to store merchant receipts straight away for every transaction, so the end-of-day slog will suddenly become a lot shorter. Whether you’re using an EFTPOS machine or a cash-register, hunt around for your ideal software and optimise your accounting process.

Ready to optimise?

Here at POS Technology we are the experts in all things point-of-sale. If you’re looking for advice on what hardware or software you should go for, visit us in store or contact us through our website and we’ll happily help you find the right system for your business.

Close up of hands exchanging an eftpos card

Having a POS (point of sale) system that is right for your business is crucial to its success, especially in a country like New Zealand where about two-thirds of all transactions are performed electronically. Here we compare two of the biggest POS systems in the country today, mPOS and EFTPOS, and see which one is right for your business.

mPOS

mPOS stands for “mobile point of sale”, which is the offspring of the original fixed terminal we are all familiar with. This kind of POS system has all sorts of benefits for the right business, so let’s get into them:

• “Mobile” is definitely the key word for this system. New Zealand business are using it more and more as time goes on, because it allows you a lot of freedom in terms of where you can perform electronic transactions. Whereas an EFTPOS terminal is typically a fixed point in a store linked to a legacy system, the mobile POS can easily be moved around, because it is typically just linked directly to the business’ bank account.
• The mPOS system is also great for contactless payments like PayWave or ASB Virtual, because of its direct link to the business’s bank account and its convenient ability to move around.
• The system is hugely cost-effective, which can be a massive benefit for small or start-up businesses. Rather than buying hardware to support the POS software, clients are typically just sent a phone or tablet attachment to support the app they downloaded onto a previously owned piece of smart technology.
• In addition, while EFTPOS machines do typically have more support in place for maintenance, mPOS systems use cloud-based storage for transactions. This method of storage makes your life a lot easier when something decides to give up and you need to fix or replace it.

EFTPOS

EFTPOS stands for “electronic funds transfer point of sale”. Because it is quite different to mPOS, it has its own list of benefits that could make your business run just the way you want it to.

• Rather than using a mobile system, an EFTPOS machine is a fixed point in-store, and can either be connected to a cloud-based storage system for transactions or connected to a store database. This option is beneficial for large and stationary businesses, who wish to store their own information for profit analysis and inventory.
• Speaking of inventory, the software provided with EFTPOS terminals can be integrated with in-store inventory, as well as programmed to deal with rewards and vouchers. This gives you more options in terms of what you are able to do in one place, rather than having several systems to manage each individual facet like you may need to do with an mPOS system.
• As a business owner, you have the ability to shop around for the exact kind of software and hardware that you want for your business. Your customers experience will be influenced by what form the transactions take, and whether they are efficient in terms of your business model, so having the freedom and options that EFTPOS offers would be a huge benefit of this system.
• Lastly, your EFTPOS terminal will have a broader range of payment options and cards it is able to accept, whereas you can find that mPOS systems are restricted in that regard. With EFTPOS you are able to add surcharges, print paper receipts on the spot for the customer, or even share the machine among multiple business who use the space (multi-merchant terminal).

Which one is right for my business?

If you are a small start-up or mobile business looking for a way to make transactions without a large EFTPOS machine, then mPOS might be the right system for you. If you’re a stationary store with a large inventory or a rewards programme, then it might make more sense to invest in an EFTPOS system to cater to those needs.

Need help?

POS Technology offers expert advice on all things point of sale in Wellington. Browse our available EFTPOS machines and POS systems for rental and for sale online in New Zealand, or contact us for advice on which system is right for your business.

Close up of hands making an eftpos transaction

Having an EFTPOS machine at your place of business is stock standard throughout New Zealand, and they do a pretty decent job of keeping your money safe… most of the time.

If you’ve ever used an EFTPOS machine, you’ll know they have many different functions available on the terminal. A sad string of news stories has come out of Australia recently following a group of people being referred to as the ‘EFTPOS Bandits’ who have been manipulating the functions of EFTPOS machines to their advantage. They insert their card but not far enough in for it to register, while an accomplice makes conversation with the employee to cause a distraction. They then cancel the transaction, and manually enter the card details of a stolen credit card to complete a fraudulent transaction.

There has been much debate following these stories about the security of EFTPOS machines and whether it is a flaw in the machines that has led to these scams. The fact is that the function these scammers are abusing cannot be coded out of the software, without severely inhibiting the utility of the machines. Even though it’s not ideal, that means it’s up to business owners to maintain the security of their terminals. In today’s blog, we’re going to outline some easy ways business owners can pick up on scammers before they get the chance to commit fraud.

Pay Attention

As an employee behind the till, it is proper etiquette to give customers some privacy when they are completing an EFTPOS transaction, because their pin number is their own business, not yours. That said, it’s important to pay attention. The EFTPOS machine scams in Australia were carried out by cancelling the transaction involving a pin, and then entering stolen card details manually. This function on the machine has to be there in case a card is faulty and needs to be entered manually, but it takes a bit longer to enter card details than to enter a four-digit pin.

While remaining polite, if you notice a customer taking a little longer than it would usually take to plug in their 4 digit pin number just ask them if they need any assistance. Letting them know you are aware of the extended time they are taking to complete the transaction will in most cases spook a potential scammer.

Eliminate Self Service

These EFTPOS scammers were taking advantage of the fact that the EFTPOS machine was handed to them in trust, to complete their transaction as they wish. In order to maintain utmost security when undertaking EFTPOS transactions, it’s good practice to eliminate as many self-service aspects of the transaction as possible.

An easy way to stop scammers is simply to ask for their card when undertaking a transaction, so that you can insert or swipe it yourself and make sure it is used properly. All the customer has to do on their own is press which account their transaction goes out of, and enter their four-digit pin. Lots of retail businesses use this method, so it shouldn’t seem out of the ordinary to a customer.

Utilise CCTV

It’s a lot easier to catch criminals when you have high resolution images of their face on camera. While this isn’t a way to catch a scammer before they commit fraudulent behaviour, it does make it a lot easier for them to be caught in the act, and prosecuted for their actions. If your business has CCTV already, make sure there is footage of people’s faces as they complete transactions. If your business doesn’t have CCTV, it can be an incredibly helpful investment if you’re worried about being scammed.

Invest in an External Pin Pad

One sure-fire way to make sure these kinds of scammers stay away from your business is to get rid of their opportunity to scam in the first place. The only way to access all the main features of an EFTPOS machine – including the features that allowed the alleged Australian scammers to take advantage of the EFTPOS machine – is through the main terminal. You can prevent scams by investing in an external pin pad for transactions, which allows you to present customers with a way of paying without access the rest of the EFTPOS features.

This piece of equipment only accepts contactless payment, so for other payment methods you get to have full control of the card insert or swipe functions from behind the register. If they wish to make their payment manually – which is how the alleged scammers were successful – they need to ask the store employee, which can result in fraudulent behaviour being detected much easier.

An excellent option for external pin pad technology is the Ingenico iPP280 PIN Pad used in conjunction with the iCT220 EFTPOS terminal. This gives your customers a contactless payment option, or the option to enter their pin externally from the main EFTPOS terminal.

Talk to the experts

Scammers will always be out there and finding a way to commit fraud. As long as you are alert to how they do it, and know they’re out there, you are well on your way to staying on top of the game and keeping your business safe.

If you’d like to discuss more about external pin pad technology and more EFTPOS terminal technology with the most up-to-date security measures in place, contact us today.

Black flat screen POS monitor

Have you ever wondered how cash registers work? A cash register is one of the first things that greet you when you’re checking your items out of a store. Buying a cash register—or better yet, a point-of-sale (POS) system—for your business looks simple on the surface, but more thought should be put into it. There are a number of factors you should consider to choose the right POS tech for your store.

The features—what do you need?

POS systems can be used in a wide range of applications. There are ones designed for the retail industry and others are for use in healthcare applications. You should know which POS features your business needs to buy a proper system for it. The systems in the retail business are different from the ones in healthcare, so that’s a start on what you need to consider. Consider that in hospitality, for example, your POS system will likely need to be spill-resistant, and able to be used with wet hands.

Usability—how easy is it to use?

Businesses run on efficiency. The faster it is to use a POS, the better. You should consider this when building up your POS system; an employee that can work quickly and efficiently on a POS is good for business, while one that spends a long time learning and adjusting can hinder the business’ progress. But we don’t want speed just within the UI. Connection speeds matter too, and can make a vital difference on the bottom line.

Ease of learning—how quickly can it be mastered?

There will come a time when you have to replace a former employee with a new one. Training will come sooner or later; for this purpose, it’s important to have a POS that’s easy to learn and master than one that’s complicated. Training is a serious drain on a business’ income and each training session that you do with a new hire will keep on draining your business.

Communication—seamless integration

A good POS system is one that can integrate into a network easily. With an increasing reliance on the Internet of Things (IoT), POS systems need to be able to connect to an establishment’s network without much fuss. It saves time and can also contribute to doing things in a faster way, allowing you to dedicate more time to growing your business instead of mastering technology.

Customer support—easy problem resolution

A POS system isn’t only hardware and software; it’s also a contract between you and the company that provides it. When you rent or buy a POS system, consider dealing with a company that has good aftersales service. This is crucial especially if your employees are still learning the ropes. It would be great to have a team from the POS manufacturers supporting your staff on their first day with the POS system.

If you are looking for a POS system, then talk to the experts

If you’re looking for POS systems to use in your business, look no further than POS Technology. Our point-of-sale cash registers and systems are guaranteed to create solutions, not problems. For more information, contact us today or check out our product range!

Man Using Paywave for Christmas Spending

Everybody knows that Christmas is when people are most generous, clamouring to buy the perfect gifts for all their family, friends, loved ones, and even strangers. And for many businesses, it also means picking up the pace in terms of stock, service, and even payment methods. Nothing is worse than losing customers due to long queues, because humans can be naturally impatient. If we can all grab a quicker option, chances are we will! To make the most out of the increased business pace that the holidays bring, contactless payment solutions are the answer.

Contactless payment solutions have been around in New Zealand for a while. But if you’re one of those people who still haven’t committed to upgrading your EFTPOS machine to accommodate the new Tap & Go Contactless Paywave Software, you may want to know what a contactless Christmas really means for Christmas spending, and for your business.

Speed Up the Transaction Process

Most new technologies will always try to speed up their respective processes – and it’s no different for EFTPOS machines and their paywave capabilities. It’s all in the name “tap and go”! No more awkward moments where your customer tries to remember their correct pin after punching in the wrong one, and no more trying to work out change after those odd discounts. They simply tap their paywave cards to the machine and they can go their own way, happy with their quick purchases, eradicating the need for typing in PINs or scribbling signatures.

Less Queues, More Customers

It’s fast for customers, but also very fast for businesses. This swift transaction process lets businesses serve more customers – significantly reducing queue lengths and queue waits. More often than not, EFTPOS terminals with contactless technology have quicker connections than their non-paywave counterparts as well, speeding up electronic transactions overall – it’s up to 7 times faster than traditional chip and PIN transactions.

Decrease Cash Handling

With more and more people opting to pay through paywave, the less a business needs to handle cash. This is very helpful for businesses – the less cash you handle, the better. There’s much more room for human error if customers use cash to pay, such as counting the wrong change or accepting the wrong amount of money in the first place. It also decreases the amount of time and human labour needed to count and process cash during end-of-day or when closing up shop.

Customers Will Spend More

According to research, credit card purchases average at $66, while cash transactions average at around $17 – that’s more than twice as much credit card purchases compared to cash payments. This statistic is especially inspiring during Christmas, when people are keener to spend hard-earned money on their loved ones for various presents and stocking-fillers. And with the convenience offered by contactless payments as mentioned above, you can be sure that you’ll see an increase in customer spending this Christmas.

 

Talk to us today about getting your POS system upgraded to include contactless paywave and tap your way to a special Christmas with POSTECHNOLOGY!

An EFTPOS machine used to take credit card payments

To accept credit and debit cards as payment for your goods, you need the right equipment. Whether your own a small business requiring one counter top terminal or a multi-location business requiring many terminals and a full POS system, you need the right equipment that satisfies your specific needs.
EFTPOS machines are a necessary tool for businesses today, though many business owners don’t know if they should purchase or lease an EFTPOS machine. In this post, we look at the benefits of both, and which route you should take.

Purchasing versus leasing EFTPOS terminals

The answer to this question is not always simple, as every business (and its requirements) is different. Before making a decision, you need to consider these factors:

● Do you have the necessary budget to support purchasing outright? If cash flow is an issue, leasing might be the better option.

● Are the tax benefits better for purchasing compared to leasing? Consult with your tax advisor on which option is better in terms of benefits or subsidies.

● Do you prefer making monthly payments compared to purchasing outright? If your cash flow is healthy and your business can manage the monthly payments, leasing your terminals can be a good option.

Furthermore, understand that as technology is changing constantly, the same goes for EFTPOS terminals. If equipment becomes de-certified or obsolete, you need to make the necessary upgrades.

Why we recommend purchasing an EFTPOS machine instead of leasing

While we understand that business might have a tight budget, especially during the early stages of the business, purchasing your terminals provides greater benefits compared to leasing.

Over the lifetime of your lease, you will pay more than you would have paid had you simply purchased the terminals you need upfront. This is not unusual, as most things cost more when you pay for them over time versus purchasing outright.

Leasing is offered more as a convenience to merchants. However, EFTPOS terminals are a necessary part of your business and the long-term benefit they offer far outweighs the initial upfront cost. Cash payments are slowly becoming less popular, paving way for mobile and contactless payments. Your business needs to have the necessary equipment to accept all types of payment.

Just make sure that when purchasing your terminals, you are doing so from a reputable supplier with the necessary POS technology and software to meet your needs.

Get your EFTPOS machine from POS Technology today!

If you’re looking for an expert to help you choose your EFTPOS machine or any other POS equipment, POS Technology is one of the foremost experts on EFTPOS NZ has to offer. Take a look around our online shop today to find what you’re looking for, or get in touch to talk to an expert!

Scanning a barcode with an EFTPOS machine in the background

Though you’ll see EFTPOS machines in almost every storefront these days, not every business understands the benefits that EFTPOS is bringing them, or knows when it’s time for them to upgrade their EFTPOS terminal to a newer model. In this blog post we’ll take a look at some of the ways in which an EFTPOS machine can help a business save money in a variety of areas, and ready them for the future of retail.

Faster sales flow

One of the main reasons the world has adopted EFTPOS instead of sticking with cash payments is that it helps retail businesses to process payments at the point of sale much faster, meaning that they can serve more people – which in turn creates happier customers, as they’re not held up while trying to pay for their goods.

It even makes it easier to serve customers from overseas – such as tourists or business travellers – who would otherwise take up time trying to use local currency, but can instead make a quick EFTPOS payment and move on to let others through!

Better-trained staff and reduced fraud

One of the major worries for any cash business is that unhappy or untrustworthy staff members will take the opportunity to commit fraud by taking cash from a cash register – but with a high-quality POS system supported by EFTPOS, that won’t be a worry for any business. Furthermore, you’ll be able to thoroughly train staff on how to use EFTPOS, meaning that they’ll be more competent across the board, and you can add additional topics into any training sessions to make sure that your staff are on the same page when it comes to their responsibilities and your expectations.

It’s also possible that with EFTPOS machines, you’ll be able to reduce your staffing costs, as taking cash handling out of the equation frees up more time around the store.

Moving your business toward the future

As we move toward a future dominated by electronic or digital payments, EFTPOS is a crucial step in preparing your business for ongoing success and expansion. Kiosk-only stores, different payWave style-methods, and digital wallets are all set to only become a bigger part of retail in the next few years, and having an up-to-date and modern EFTPOS machine in use will keep your business one step ahead of competitors. This will also save money when it comes to installing and adopting these necessary future technologies.

Upgrade your EFTPOS machine today!

If you’re looking for an expert to help you upgrade your EFTPOS machine or any other POS equipment, POS Technology is one of the foremost experts on EFTPOS NZ has to offer. Take a look around our online shop today to find what you’re looking for, or get in touch to talk to an expert!

A hand holding out a phone and two dollar notes

As we rush deeper into the second half of 2018, we’re seeing more and more businesses adopt new POS technologies that are revolutionising point-of-sale transactions. However, in this ever-changing technological landscape, there’s always more disruption around the corner: for our latest blog, we’ll take a look at five emerging tech trends that will play a part in the POS systems of the future.

Mobile wallets

Apple Pay, Samsung Pay – paying with mobile phones rather than cash or card has become a hot topic in recent times even though still a low proportion of the population is doing it. In the next few years, it’s certain that many more people will adopt this technology into their daily lives simply due to the convenience that it provides: more mobile providers will offer the option, and more POS systems will accept mobile payments to give their customers greater payment flexibility.

Online ordering pickups

Already, many food businesses offer store-specific payment apps that let customers order and pay for their purchase online, so that when they arrive in store, their food or product is ready to go. This dramatically decreases the time that customers spend in store, and saves them time overall, while staff can spend less time attending to customer service and more time preparing the food or product. In the future, this is bound to continue and expand to areas outside of food, as mobile payments get easier and easier.

Unmanned kiosks

The ability to scan and pay for items without help from a retail assistant, as well as updated security systems and self-use POS technology, are allowing many businesses to employ unmanned kiosks at the point-of-sale. This helps reduce staff costs and increase the efficiency of their stores, while customers can breeze through – helpful for those in a rush. In the future, it’s likely that, with advancing technology, the amount of unmanned kiosks will increase, and the types of businesses using them will broaden.

Data and analytics

POS systems are sure to increase both the amount and types of data retailers are able to collect from customers in the years to come. Some businesses already collect customer data – this will only continue to increase, especially with the massive role that data plays for the vast majority of businesses in 2018 and beyond. POS data collection will give businesses access to the type of information that lets them compare and take a deeper look at trends and patterns – analytics that can be the fuel for improving processes and making decisions for the future.

Mobile POS units

Fully mobile POS units are already commonplace, but haven’t been adopted by as many businesses as could be making use of them. Mobile POS units can increase the speed and efficiency of payments wherever you are, meaning they’re not just handy for retail but also at events, on the street, or almost anywhere else that you could think of! It’s hard to see these handy units not continuing to increase in popularity in the years to come.

You can get mobile EFTPOS terminals from POS Technology today, as well as all the other point-of-sale technology that you’d ever need: if you’re looking for a POS solutions provider who can help you to choose the right POS system for your business – POS Technology is right for you! As a one-stop shop for all things POS, we guarantee that you won’t have to go anywhere else to find yourself a completely up-to-date and modern POS system!

paywave-paypass-new-zealand

Pros and Cons of payWave and PayPass fees in New Zealand

With Retail New Zealand last week saying to media that banks and credit card companies are charging Kiwi retailers too much for contactless transactions, a debate has sparked over whether moving to a contactless payment system is right for a business in this day and age. Fast-food giant Burger King is the latest company to ditch payWave due to the “significantly higher” fees the company feels they are facing for using the system, especially compared to contactless fees oversees.

As a veteran of the point-of-sale industry with 19 years of experience – and one of the most trusted experts on EFTPOS NZ has to offer – POS Technology are well-placed to weigh up both sides of the payWave/PayPass argument and judge whether going contactless is worth it for businesses in New Zealand.

What are the fees for contactless payments?

Fees depend on banks and providers, but research found that New Zealand retailers are paying on average 1.2 per cent for every contactless payment they process, with some retailers paying up to 3.5 per cent according to Retail New Zealand. Some businesses have started to move these costs onto the customer by introducing surcharges on contactless transactions, effectively discouraging them to pay via payWave/PayPass, while other companies such as Burger King have ditched it altogether.

Why are businesses moving to contactless payments despite the fees?

Regardless of the fees that are charged on contactless payments, their use in New Zealand has increased to an average of 25 million transactions per month, almost doubling since this time last year. While swiping used to be more common at POS terminals, it now seems that we are heeding the advice of Dora the Explorer: “Swiper, no swiping!”

More New Zealanders than ever are going contactless, and the advent of apps such as Apple Pay has allowed cardless transactions that still attract the same contactless fees for retailers.

Furthermore, research undertaken by Paymark and TRA showed that retailers who have chosen to use payWave and PayPass in their stores have enjoyed double the sales growth of those who haven’t, and double the overall number of transactions. This perhaps is due to the size of the companies choosing to use contactless payments as opposed to those not as, on the whole, most large retailers allow for payWave and PayPass

Is allowing for payWave and PayPass worth it?

At the end of the day, the question of whether allowing contactless payments is worth it at this stage depends entirely on your business’s individual characteristics and needs. For larger retailers where payWave will increase your customer base by allowing more transactions to take place, there’s an obvious benefit, however it will still have to be weighed up against the costs of fees. On the other hand, for smaller retailers with little potential for growth in their customer base, payWave is unlikely to bring economic benefits to your business.

However, two factors loom large for the future of NZ retailers when it comes to payWave. Firstly, as indicated by former commerce minister Jacqui Dean, regulation may be on the way for contactless payment fees. Secondly, and more importantly, the rate at which New Zealanders are moving toward contactless is increasing rapidly, and there is little doubt this is the way of the future, regardless of the current rate of fees.

If your business is looking to make a step toward the future by purchasing payWave/PayPass-enabled POS terminals, or want to upgrade your POS system in any way, the team at POS Technology are experts in all things POS-related and able to deliver state-of-the-art POS products all across the Wellington region! Contact us now to upgrade today!

Woman Using iPhone for Apple Pay New Zealand

These days, we can do everything with our smartphones. We can check the weather, see what traffic is like at 7am, search for products we want to buy online, and take great quality photos. And now, thanks to advancements in technology, our smartphones can also be mobile wallets.
Mobile payment is an amazing global phenomenon. When we physically shop in places that offer contactless payments (payWave), it eliminates the need for bringing wallets and pulling out cards. To pay with your phone, you simply tap it close to an EFTPOS terminal, as you normally would with a payWave card, and voila – payment made! It’s as easy as that. Not having to carry cards around also increases payment securities, no need to worry about losing your card or having your numbers exposed for the world to see – your smartphone takes care of all of that.
Despite this dream of a wallet-free life in New Zealand being so close, we are still very far from achieving it. Even Apple, one of the biggest smartphone brands in the country, still hasn’t quite taken off the ground as much as it already should have in terms of mobile payments. Similar to other providers, its mobile payment solution Apple Pay lets you enter your card details in, turning iPhones magically into mobile wallets. However, despite having such a convenient technology available at the fingertips of Apple users nationwide, New Zealand just doesn’t care about Apple Pay … yet.
Here are the reasons why NZ isn’t using Apple Pay:

Apple Pay Banks are Limited

Shockingly, there are only two banks in New Zealand that support Apple Pay: ANZ and BNZ. ANZ was at the forefront of the Apple Pay roll-out in 2016, making it available to customers with Visa credit or debit cards issued by the bank. For a year, ANZ was the only bank that offered Apple Pay, until BNZ followed suit very recently in October this year to reinforce its initial service Android Pay. ASB and Westpac also have their own mobile payment apps for smartphones, not wanting to rely on the big brands to provide the same service.
With such a limited number of banks (only two!) supporting Apple Pay, it’s no surprise NZ hasn’t caught on quite yet.

The Apple Market Share

Not every Kiwi owns an iPhone. There are many other smartphone brands available in the market, and most of them are cheaper alternatives. In the last quarter of 2016, Apple owned 31% of the vendor share for smartphone shipments to NZ, followed by Samsung, Huawei, Vodafone, Spark, and many others. Since then, its contenders haven’t been sleeping – Samsung released its powerful Samsung 8, Google released Google Pixel, among many other great smartphone releases in the industry as of late. With every year the smartphone competition is only getting more and more intense, potentially decreasing Apple’s market share overall. From here on out, Apple will have to really step up its game to win the hearts of Kiwis across the country.

Mobile payment is not an easily navigable industry, with surcharges and app royalties making the process hard for both banks and businesses to fully commit to any one software like Apple Pay. However, with an increasing number of locations offering payWave technology, and as more Kiwis start relying on their smartphones for virtually everything, New Zealand may well be on its way to leaving their wallets at home.
Get ahead in the industry and make sure your EFTPOS machine has the technology that supports mobile payments such as Apple Pay! Contact the experts here at POSCOM for the best updates and POS technical support!

Kiwis take Christmas, and their Christmas shopping, very seriously. Perhaps a bit too seriously, with Kiwis’ Christmas spending only increasing ever year.

 

Is your business ready for Christmas? Let’s take a look at New Zealand’s spending habits from Christmas 2017 and some useful tips to help you prepare for this year’s season of giving.

Pre-Christmas Sales

Christmas spending in 2017 kicked off on Black Friday as NZ rode the western wave of special sales late in November. Due to early Black Friday deals and sales, many Kiwis did their Christmas shopping early to avoid the brunt of the Christmas rush.

 

From then on, spending quickly ramped up, especially in the retail sector. During Christmas week, Paymark recorded 596,373 transactions on mid-day Thursday (the 21st of December), a record-breaking number for the company. That day also saw a total of $282.4 million purchases on Paymark’s network alone.

Boxing Day Numbers

Last year, New Zealand stores slashed their prices by up to 70 per cent for their Boxing Day revelries. From the big retail malls of Westfield to various The Warehouse stores and big brands nationwide, stores competed to give their customers the best possible deals for their products and services. $139 million worth of Boxing Day transactions went through the Paymark network last year.

Useful Tips to Prepare Your Business for Xmas 2018

  1. Start early.

 

Black Friday sales are becoming more of a thing out here in New Zealand, despite it being more of a western holiday. Offering Black Friday deals will let you cater to the early birds of Christmas shopping. Plus, you’ll be able to spoil some of your international customers as well. Don’t be afraid to start offering deals this early on, because chances are your competition will be doing the same.

 

  1. Hire enough staff.

 

If you work at a brick and mortar store, hiring Christmas staff is a no-brainer. The Christmas season always brings in more traffic, and you’ll need the staff to provide the best service you possibly can. On top of providing better customer service, you’ll also gain more sales and even improve security in store.

 

  1. Keep stock levels high.

 

There’s nothing worse than not having the exact product that your customer wants and seeing the disappointment in their faces. If you don’t have enough stock, you’ll risk losing that potential sale, and even risk losing that customer to a different retailer entirely. Most people will opt for quick solutions during the mad Christmas rush, so keep stock levels high in the Christmas season to retain customer loyalty and build new customer relationships.

 

  1. Offer gift-wrapping.

 

A lot of people these days don’t have the time to wrap all their presents, nor do they even want to. Offering professional, branded gift wrapping will give your product that little boost it needs that won’t just enhance its gifting aesthetic, but also its marketing value.

 

  1. Make sure your POS system is in tip-top shape.

 

Never take your point of sale system for granted. When you’ve got a long queue of Christmas shoppers, you don’t want to lose them because your POS stopped working! Make sure all your software is updated and all your hardware has undergone recent maintenance to ensure it keeps working in the most crucial of business moments.

 

We’ll ensure your customers are satisfied this Christmas season! POSCOM offers the best in POS system solutions including providing the latest EFTPOS terminal technologies and the largest support infrastructure in New Zealand, so you can be sure you’ll get help when you need it most even during the holidays.

 

Let us help you make the most of the holiday season and contact us today!