Issue link: https://www.ascpskindeepdigital.com/i/1263242
76 ascp skin deep july/august 2020 POS terminals. POS terminals can simplify the purchasing process for your business transactions and can fluctuate in price and sophistication. Since they can be a bit pricier than using your smartphone or tablet, they are suited to larger, more established businesses with multiple locations. Budget One of the most important things to consider when searching for a contactless payment POS setup is your budget. Besides the POS system price tag and set-up charges, you'll also want to consider the monthly fee and per- transaction fees. Make sure to research all of the costs associated with the POS setup you are considering so there are no surprises. Ease of Use Another consideration are the features you need for a successful and stress-free transition to contactless payments. Also consider how the new system will integrate with your existing POS apps—unless you're starting from scratch. Finally, assess the customer service and technical support reviews of the companies you are considering. After all, ease of use definitely includes good quality service and support when needed. Installation Because POS systems vary so widely, there is no one-size-fits-all installation guide. There are a few ground rules, though, that can help you get the most out of your new POS system. Software. Most POS system software is straightforward, but check your system's website to be sure there are adequate assistance options and tutorials. Also check to see if there are extra fees attached for pre-configuring or modifying your software before shipping. Hardware. To make hardware connection easier, many POS apps and devices are designed to connect via Bluetooth. Keep in mind that you'll need to place your POS system where it can easily be accessed by you and your clients. If your system features accounting, human resources, or inventory capabilities, make sure you can install it on the relevant hardware (computers, tablets, cell phones, etc.) necessary for synchronicity in your business functions. Service. Again, find a POS provider with excellent customer service and tech support reviews to help ensure you're getting what you pay for—and that you're maximizing the overall effectiveness of your system. WHICH CONTACTLESS PAYMENT OPTIONS SHOULD I OFFER? You may have already used a card reader prior to COVID-19, and if your current app accepts contactless payments, you should be ready to go. Just contact your payment provider and tell them to enable the no-touch feature. If you have an older card reader, your payment provider may allow you to swap it for a new one. If you are new to contactless payments, there are apps that don't require a reader at all, called person-to-person payment apps. If you decide to go with an NFC card reader or terminal, there are several apps you can offer your clients for payment. Prices for NFC terminals range from $300 to $500. If you use your smartphone or tablet to accept payments, you can pick up a reader for $100 or less. Following are descriptions of several popular contactless apps. Person-to-Person Payment Apps Cash App by Square allows you to request client payments by sending your request to your client's cashtag, phone number (via text), or email. There is no reminder option, though, so you will need to send reminders for payment. Cash App charges businesses 2.75 percent per transaction. iOS/Android. Venmo, owned by PayPal, allows you to request person-to-person (P2P) payment from your clients too, but offers a social element that other P2Ps don't. Venmo's comment and "like" features allow you to interact with clients similar to other social media formats. Venmo charges businesses 2.9 percent of the transaction plus 30 cents. iOS/Android. Zelle is a P2P format that used to be a consumer- only banking service, but it's recently been opened to small businesses and is available at most banks. Visit www.zellepay.com/get- started to see if your bank is on the list, or you can still use Zelle by downloading the Zelle app. Unlike its competitors, each bank controls how to offer the service and whether (or how much) to charge for the service. iOS/Android.