Monetary transactions are fast developing into a more digital system where our transactions can now be done. So easily with just a little machine and a card.
The advent of POS machines has made this possible and very easy to access. To make this experience even better, different electronic companies have now taken it upon themselves to bring a touch of uniqueness to the world of POS.
One such company is Interswitch. In this article, we will cover the arena of Interswitch POS, its features, benefits, and how it has upgraded the POS experience.
Understanding the Interswitch POS
Interswitch POS is a revolutionary payment solution that is offered to us by Interswitch. Interswitch is a renowned Nigerian financial technology company that allows businesses to accept payments from customers more conveniently and securely. It can be either through debit cards, credit cards, or other electronic means.
They are at the forefront of the financial revolution because they provide seamless and secured payment solutions for businesses as well as consumers.
The Advantages of Interswitch POS
There are certain privileges that using Interswitch POS allows you to enjoy and they are;
Efficiency
Interswitch POS works with a higher level of speed in the payment process, thereby reducing the time customers spend waiting hence making them enjoy their shopping experience.
Security
Interswitch POS works with robust encryption and authentication measures, so as to ensure the security of all sensitive information that is provided during the transaction process.
Versatility
It accommodates different methods of payment, making it the right choice to use for all kinds of businesses no matter the size.
Record-Keeping
Interswitch POS provides you the business individual with comprehensive transaction records of all your dealings. Thereby simplifying the technicalities there is in accounting and financial management for your business.
How Interswitch POS Works
The process involved in using an Interswitch POS is as easy as it comes. Below we’ve provided a simplified overview of the process for you;
Card Payment
When a customer is done picking an item or more to purchase and is ready to pay for it, they’ll present to you their debit or credit card to be used in the Interswitch POS terminal.
Transaction Initiation
You as the merchant, operating the Interswitch POS terminal, will need to enter the transaction amount for the purchase and then select the payment method (e.g., debit or credit).
Card Authentication
The customer is expected to either insert or swipe their card. They will also be asked to enter their Personal Identification Number (PIN) for security verification and confirmation. So, you are expected to communicate this to them.
Transaction Authorization
After they have imputed their PIN, the POS terminal will then communicate with the bank or financial institution that the customer works with so as to verify the transaction.
Once it had been authorized, the amount for the purchase would automatically be deducted from the customer’s account.
Payment Confirmation
To confirm the transaction the customer is expected to receive a printed or electronic receipt from the POS which you as the business personnel would give them. The receipt is expected to contain all important details of the transaction.
Why Choose Interswitch POS?
It is ok for you to have been wondering why you should choose Interswitch POS over the others, some of the reasons are;
Improved Customer Experience
Interswitch POS has done well in minimizing delays that are payment-related thereby enhancing the overall shopping experience for your customers.
Increased Sales
Because of the reduced time delay Interswitch offers, businesses that accept card payments through the POS tend to attract more customers and boost their sales on a daily basis.
Enhanced Security
As has already been noted earlier, Interswitch has an encryption and authentication feature that ensures that payment transactions are highly secure. Thereby reducing the risk of fraud.
Detailed Records
The service quality offered by Interswitch POS enables both businesses and customers to benefit from detailed transaction records. It provides a means of facilitating transparent and accurate financial tracking.
Conclusion
The Interswitch POS terminal is no doubt an outstanding option for electronic financial transactions. It keeps both the customers and business owners in a place of comfort. Due to its tight security measures increasing satisfaction for both parties.
When the customer is satisfied, sales will definitely increase. And that is a top priority of every business person. Hence Interswitch POS is an impressive choice you can try out and grow your businesses.
