Does your business have its payment solutions bases covered?
October 27, 2016 8:26 am by Bronwyn Watt
If you’ve been paying any attention when shopping this month, you may have noticed that supermarkets and other retail businesses already have their Christmas decorations up and are have started running their festive season promotions.
This happens every year around this time and it’s not because those business owners can’t contain their excitement for the festive season. They’re just being prepared and making sure that their customers are also prepared for the busiest retail season of the year.
But what exactly does being prepared look like? It can be as grand as bright lights and festive displays or as simple as having all the right payment solutions in place.
Small businesses have unique opportunities to broaden their revenue
The fastest and most practical way to grow your business is by increasing revenue. For retail businesses, adding revenue streams doesn’t have to be that complicated. It’s as easy as giving your customers what they need. You could teach a skill, charge a small fee for your classes and promote products in your store that are related to your courses (e.g seeds if you teach gardening) or sell prepaid services like airtime, data and electricity with Kazang.
If you’re a tavern owner, the festive season is one of the busiest times in your calendar. You could take advantage of this by making your tavern the go-to entertainment spot in your area. From live music, special events like quizzes and live screenings of local and international sports matches, you could easily keep the foot traffic coming throughout the silly season. By selling prepaid betting services like Hollywood Bets and the National Lottery’s Sportstake 13 with Kazang, you create an interactive experience and an added revenue stream for your business at the same time.
Get your business in shape
While many industries close shop for the holidays, the retail sector tends to kick things into the high gear. If your business isn’t adequately prepared for the increased influx of customers over the coming months, you could lose valuable customers and your hard-earned reputation in the process.
A mobile POS device allows you to accept card payments anywhere in your business, not just at the till. This means that you avoid long queues, you can close more on-the-spot sales and upsell more customers. ZipZap is offering free mPOS devices to businesses that process MasterCard and Visa transactions greater than R25 000 a month. Follow this link for more information.
As always, security should be your main priority
It’s easy to get caught up in all the excitement of the holiday season and forget the first rule of handling payments – making sure both your customers and your business are protected. Whether it’s POS systems or ATMs, all of the technology we use to do business and process payments is at risk.
Cybercrime is becoming more sophisticated and organised and our responses to it need to be smarter and always one step ahead. Paycorp has been PCI-DSS compliant to the highest level for six years and we endeavour to ensure that all our products and services make running a business and processing transactions a stress-free experience. For regular updates about all of our products and services subscribe to our blog.
Categorised in: Blog