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New POS Technology Available to Retailers in 2012

BY CSA STAFF

By Shannon Martin, [email protected]

There are a variety of new technologies that will become available throughout 2012 to small business owners looking for ways to process credit and debit cards. In the past, business have had to rely on costly terminals purchased from merchant account providers who charged not only for the equipment, but also for the processing of the cards used by a business’ customers.

This year, however, there will be a number of new technologies introduced on the market that will make the old system of credit card processing obsolete. POS or point-of-sale technologies have been getting a lot of press coverage because of how these technologies will change the way small business operate.

Perhaps the most talked about advance in POS technology is the use of mobile card readers. These devices are usually given away for a small fee or for free by merchant account providers and easily connect to a smartphone or tablet computer. These card readers are typically less than two inches long by two inches wide, making them easy to carry and connect. The devices are capable of scanning the magnetic strip of any credit or debit card run through the device, essentially making a card reader out of any mobile device.

An application that is downloaded onto the mobile device allows a small business owner to send the card information to a credit card processor, store the purchase information for later, and even provide his or her customer with a receipt. Since the devices are used with mobile technology, they can process cards anywhere the device can connect to a network. This means that a business such as landscapers and plumbers can collect payments from customers in the field. Businesses that routinely operate from different locations, such as traveling craft fairs, will be able to accept credit card payments from customers at every stop along their tour routes.

The fees that are charged to businesses utilizing this technology can offer significant savings over traditional point of sale units. Rather than pay high fees every month or year for equipment rental and access to the processing system, many of these devices simply charge businesses a flat percentage fee of the total amount of the transaction. This means that businesses whose customers do not often use credit cards can still offer their customers this payment options without running the risk that their investment will not pay off in the long run. Furthermore, flat percentage pricing allows smaller and newer businesses the ability to accept credit cards without having to make large up front investments in credit card equipment.

Another much talked about point-of-sale technology is the rise of mobile payments. To use this technology, both the business and the consumer download an application to their respective mobile devices that allows them to transmit and receive payments from customers. Once installed, a customer is able to enter the payment and recipient information into his or her smartphone or tablet computer, and transmit the payment to the business. Both the business and customer will receive instant confirmation of the purchase, along with a receipt detailing the items and/or services that were bought.

This technology will allow businesses to receive payments from customers who do not have a credit card or who simply do not want to give their credit card information to a new business. The fees charged for the service will be in line with current fees charged on credit card transactions. While the business can receive the money almost instantly, a customer will have the option of having charges appear on his or her credit card statement or being added to his or her cell phone bill at the end of the month.

Shannon Martin is editor of MerchantSeek.com, a merchant referral gateway that has been offering merchant account reviews for over 10 years. She can be reached at [email protected].

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D.Spencer says:
Mar-29-2013 11:48 pm

Totally agree on this one. You also said it in a very inspiring way, which I feel free to interpret it on both sides. On one side, let`s say productivity in enhanced when you work on your own territory at home and still know how to gain a market quota on your side, as Ryan Deiss used to say. The other option is to customize your working place so much that you should get to feel so comfortably there and notice your work performance is improved.

D.Spencer says:
Mar-29-2013 11:48 pm

Totally agree on this one. You also said it in a very inspiring way, which I feel free to interpret it on both sides. On one side, let`s say productivity in enhanced when you work on your own territory at home and still know how to gain a market quota on your side, as Ryan Deiss used to say. The other option is to customize your working place so much that you should get to feel so comfortably there and notice your work performance is improved.

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Retail sales poised for growth, IBM predicts

BY CSA STAFF

ARMONK, N.Y. — Analysts at IBM are confident that retail sales are positioned for increases across a broad spectrum of categories.

According to a report released by the company, the surge will be led by a projected 8.2% rise in men’s apparel sales.

“The forecast of men’s apparel sales reflects a growing trend: men are definitely developing a taste for fashion – especially in business attire,” said Jill Puleri, global retail leader for IBM Global Business Services.

For men’s apparel, 2011 is shaping up to be the best year on record in terms of total sales; final Census figures are expected in February, said IBM.

In other categories, footwear sales are projected to be up 3% over 2010. Attractive promotions and changing weather patterns may account for the jump in sales in the fall 2011 run up to the holiday shopping season, according to the analysis.

For women’s apparel, 2011 sales are projected to be up 1.96% over 2010.

According to IBM, all indications are that personal disposable income continues to rise, while savings as a percent of personal disposable income continue to decline – meaning that people are saving slightly less. There has also been a recent increase in consumer confidence. These three factors combine to provide a good “tailwind,” indicating conditions that may lead to better future sales for the industry.

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Spalding serves up another endorsement

BY CSA STAFF

BOWLING GREEN, Ky. — In time for the upcoming Olympic Games in London, Spalding has snagged Misty May-Treanor, a two-time Olympic gold medalist and the current no. 1-ranked American volleyball player in the world, for a long-term marketing, licensing and promotional agreement with the brand.

May-Treanor’s relationship with Spalding includes appearances, advertising, volleyball clinics, product development collaboration and signature products. Pro volleyball player Todd Rogers, a 2008 Olympic gold medalist, and Karch Kiraly, a three-time Olympic gold medalist and USA Women’s National Team Coach, are also Spalding ambassadors.

Heading into the 2012 season, May-Treanor and her partner are the no. 1 ranked U.S. team on the FIVB World Ranking. She is considered an early gold medal favorite for the 2012 Olympic Games in London.

“I learned to play and compete in beach volleyball on the sands of Santa Monica,” May-Treanor said. “The only ball on the beach then was the Spalding Top-Flite 18 Panel. At this point in my career, to be involved with the company that helped launch my volleyball journey and that of so many other players is awesome.”

Spalding’s partnership with May-Treanor will also include helping her develop her M2 Clinic program, which works to promote indoor and outdoor volleyball for boys and girls across the country. Additionally, May-Treanor will assist Spalding in development of the brand’s best-in-class outdoor net and net system category and provide design insight on the colors and styles of the brand’s indoor volleyball collection.

“Working with Misty is an honor for Spalding,” said Paul Sullivan, vice president of sales and marketing for Spalding. “Her success on and off the sand speaks for itself. Her passion and desire to share her love of the sport with fans around the world embodies the ‘True to the Game’ spirit of the Spalding brand.”

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