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What POS System is Best for MY Store??

Have you looked into buying a new POS System and thought to yourself “I wonder what system is best for my business”?  If so, you are not alone.  Nearly all of the business owners I talk Small REVONU cartoonto want to buy a system that is going to have the right features to support the business.  Unfortunately tons of businesses either over-buy or under-buy when it comes to their POS Technology.

Before making a decision, talk to an expert – call me or email me for a free consultation/discussion about the Point of Sale market and the best solution for your business!

Don’t make a mistake and get a system that won’t work for you and your business.

 

 

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Why Should You Shift from Legacy to Tablet and Cloud POS?

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As the information age has continued to create unprecedented breakthroughs in the tech industry, a number of products have become increasingly obsolete. Innovations in design, market strategy and consumer preference have all played a large role in the direction of best practices for both buyers and sellers of a number of technological goods. Prime examples of this are Point of Sale systems in the Merchant Service industry, which have gone through drastic changes from dial-up, stand-alone devices to web-integrated mobile solutions. As these changes have occurred, processing payments has become easier than ever, and it’s important for business owners to know how and why Tablet and Cloud POS systems are the better option moving forward.

For business owners, choosing a POS system that will run smoothly and reflect your method of business is as important as any other decision you make when setting up shop. Your POS system will be the operating location for every transaction you make with your customers, and being knowledgeable of the best tools available are key to your business’ growth.

Traditional, or “Legacy” POS systems are the original POS system, installed on-site at your business as a stationary device. The “on-site” method is a recurring theme with Legacy POS systems, which can prove to be problematic down the road for a business owner that is constantly on the go or seeking versatility. All maintenance is handled on location with Legacy POS systems, meaning repairs and installs must always be done during a scheduled time at your business location. POS configuration and set-up must also be done on site. Lastly, a number of gift and loyalty programs that customers seek must be purchased as separate software, which can prove to be expensive and time consuming to install. Overall, the Legacy POS system functions as an outdated tool for processing transactions and may hurt your business more than it helps.

Tablet and Cloud POS systems are a bit more flexible in their functionality, which is what makes them so attractive to business owners today. Many of these systems are obtainable through monthly payment plans, which can make them a bit more affordable for new business owners that may not be able to fork over a lump sum. Also, Tablet and Cloud POS systems have their software, data storage and analytics hosted via online servers (the cloud), which provide more security and convenience in the event that your POS system malfunctions or faces fraudulent activity. These solutions are also notably more accessible, with versatility as a mobile solution for business owners that may have moving businesses (such as food trucks, kiosks and vendors). You are also given the option to view your business data from any device with Internet access, so you can keep tabs on business activity even if you’re not there. In terms of maintenance, POS updates don’t necessarily require in-store activity.

With the wide range of Tablet and Cloud POS systems available in today’s market, it’s easier than ever for you to find a solution that fits your business needs. CoCard has a large inventory of solutions that can match exactly what you’re looking for. Don’t get left behind, call us today for more information about options that will allow you to process transactions more efficiently. 

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MONEY!

Google Bans Payday Lending Ads

MONEY!

MONEY!

In an interesting turn of events, Google announced on May 11 that it will no longer service online advertisements from Payday Lending companies starting July 13. This decision came due to increasing pressure (from civil liberties, consumer protection and consumer privacy groups) to make a change in advertising policy.

Many of these advocacy groups feel that Payday Lending services often target weaker consumers that are in poverty, forcing them to pay extremely high interest rates for short term money loans. Consumers frequently use these loans to cover expenses that they are unable to afford before their next paycheck comes. According to a report by Yahoo! Finance, a 2012 Pew study stated that “the average payday borrower is in debt for five months, spending $520 in fees and interest to repeatedly borrow $375.” Interest rates easily reach triple digit values, averaging around 391%. These high rates can generate billions of dollars in revenue for many of the larger Payday Lenders, which many feel is an unethical business practice.

Although many consumers are happy that Google is stepping in to combat these issues, a number of Payday Lending advocates, believe that this mandate is discriminatory, undermining the integrity of honest Payday Lending companies. In a statement recently obtained by the Washington Post, the Community Financial Services Association of America has stated “Facebook and others are making a blanket assessment about the payday lending industry rather than discerning the good actors from the bad actors. This is unfair toward those that are legal, licensed lenders.”

The Washington Post article also states that one of the more dangerous aspects of using the Google search to find a lender is the fact that extremely sensitive financial information can be gleaned by the search engine. Once a desperate consumer enters their personal information, consumers can be taken advantage of by ads designed to target their financial profile. The companies they find may not end up just being unethical — they are likely to be more expensive than using a brick and mortar lender due to online fees.

Despite Google blocking Payday Lender’s advertisements, consumers are still able to use the engine to search for lenders and investigate their websites. Although Google’s aggressive action will not completely mitigate the risks of using Payday Lenders, it will at least curtail the efforts of the less ethical ones.

 

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Tips for Preventing a Data Breach

Tips for Preventing a Data Breach

 

Tips for Preventing a Data Breach

 

When you think about data breaches, your mind probably jumps to the highly publicized incidents of companies like Target and Home Depot. Small business might think they don’t need to take security measures–but that’s not the case. Small business are as susceptible to data breaches as large corporations, and may actually be at greater risk.

Stephen Cobb, a senior security researcher at ESET, says that hackers like to target small businesses because they have more digital assets than a single customer, and not as many security measures put into place as a large enterprise. According to QSR magazine, small businesses like restaurants, are data-thief magnets because they process an abundance of credit cards and often use POS equipment.

Protect your small business with these data breach prevention tips from Chip and Terminal:

 

1. Be Proactive

  • Routinely check your POS systems to make sure they haven’t been tampered with.
  • Don’t wait for a problem to arise. Perform regular vulnerability assessments- once a week is advisable. These tests should be conducted on all systems associated with your network.

 

2. Make sure your credit card processing network is secure

  • Be sure adequate firewall and virus protection measures are put into place.
  • Avoid combining your network with your in-store free Wi-Fi. Make sure any open Wi- Fi networks your customers may use is on a separate network from the one where you process your credit cards.
    • If your devices are not properly installed, configured, and managed, you are taking on a large risk.

 

3. Hold your employees accountable

  • Train your employees on proper security measures. Creating a culture in your business that is more security-minded can help eliminate mistakes that may lead to a data breach. If your employees are knowledgeable and diligent in regards to your network’s security, they will be better able to notice atypical behavior.
  • Discuss with your employees the best way to optimize credit card security. Remind them that handling credit cards and physical cash is similar. There is a lot of responsibility that comes with handling money and information. Limiting how much employees handle credit cards out-of-sight can help prevent dishonest employees from stealing customer information.

 

4. Switch to EMV acceptance

  • EMV technology in the U.S. is catching up to the rest of the world after the 2015 EMV mandate. The chip that is embedded in EMV cards is encrypted and creates a new code every time the card is used to make a purchase, making the card unable to be replicated and more secure than a simple magnetic stripe card.
  • If a fraudulent charge has been made with an EMV enabled card, but a merchant doesn’t have the technology to process an EMV card, the merchant must accept the charge as a loss. Because of the liability shift it is critical that merchants invest in a processing system that accommodates EMV chips, whether they choose an EMV- enabled terminal or Point- of- Sale system.
  • The prevalence of EMV cards makes a data breach less likely because it is a lot harder for hackers to target individual cardholders as well as the businesses that accept them

 

If you would like more information on how to update your POS system and how to be more secure, including switching to EMV compliant technology, contact us at 800-317-1819!

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