Hardware challenges
Older hardware is prone to more malfunctions. Monitors break down. Printers don’t print reliably. POS systems that are outdated are at increased risk of complete system failure. Replacing parts that are older are more costly. Frequent repairs are something that is common when dealing with older systems. As the costs add up, it may be sensible to consider an upgrade to a low maintenance, cloud-based solution that is managed virtually with ease. With most of the budget being directed toward managing the older system, there is little room for expansion and adding more terminals or resources to power the solution.
EMV and NFC
EMV and NFC payments are commonplace in retail environments when it comes to merchant services. The cards are designed to provide increased security parameters to safeguard sensitive customer data. Cards featuring the magnetic strips have enhanced security, so they are far less vulnerable to hacking and unauthorized access to data. NFC solutions enabled by chip technology permits contactless pay. Both technologies for credit card processing are easily supported in newer point-of-sale systems and aren’t supported as easily in their predecessors. Apple Pay and Android Pay are examples where contactless pay solutions and antiquated point-of-sale systems could prove problematic for businesses.
Expansion opportunities
Your system has to be able to support your ever-expanding product line. You don’t want your system to be incapable of handling the addition of more terminals as the business grows. Cloud solutions offered by merchant services tend to be more scalable in nature. If your system isn’t designed to grow your business, you run the risk of losing out on future business opportunities using outdated credit card processing systems.
Clunky systems
A clunky system is something that can hinder a business. Handling higher volumes of business during busier cycles requires the latest point-of-sale technologies. You want to have a streamlined user experience as employees interact with the system. There are consultants that work with merchant services that can assist with matching companies to the right solutions.
These are indicators that it may be time to consider upgrading your point-of-sale system. In considering an upgrade, the solution should be aligned with future expansion efforts. The POS system must accommodate increased data, operate with improved efficiency, and meet new business needs.
