A point-of-sale (POS) terminal is a hardware system for processing card payments at retail locations. Software to read magnetic strips of credit and debit cards is embedded in the hardware.
How a Point-of-Sale Terminal Works
When a credit card or debit card is used to pay for something, a conventional Point of Sale (POS) terminal first reads the magnetic strip to check for sufficient funds to transfer to the merchant, then makes the transfer. The sale transaction is recorded and a receipt is printed.
4 Benefits Of Owning A POS Terminal
1. QUICK AND SEAMLESS TRANSACTIONS
2. BE YOUR OWN BOSS
3. SIDE HUSTLE
4. SUSTAINABLE SOURCE OF INCOME
QUICK AND SEAMLESS TRANSACTIONS
Owning a POS Terminal for your small business is a required choice to make now in the era of financial inclusion. It is now a compulsory tool for your business. I bet you would not want to loose a sale, just because a customer tells you that he is not with enough cash at hand. If there is a POS Terminal with you, all you need to do is to ask for the customer’s ATM card so that he can pay through his card and everyone is happy. And trust me, payment done via a POS Terminal is a lot quicker and seamless.
BE YOUR OWN BOSS
These days POS Business is a Job. Yes that’s right! Once you have the capital and your are able to request for the Terminals
successfully, you are good to go. All you need to do is to leave the
rest to society’s demand for money to run their every day life.
Okay you have a 9AM-5PM job from Monday to Friday. But due to Nigeria’s economy and recent inflation in the prices of goods and commodities, your salary is not able to cater for you and your household. Worry less please, all you to do is to request for a POS Terminal so that you can use it to start helping people to withdraw money, send money, pay bills etc. This will serve as your additional source of income otherwise called side hustle. You just need to draw out a plan. So on week days you go to work and on weekends you attend to your customers from your POS Business.
SUSTAINABLE SOURCE OF INCOME
This goes to the youth and young people in the society, you are a student, you are a graduate, or you are business person. As a student if you have free times or period to spate, going into a business as this would not be that bad, because you will be helping yourself by keeping yourself busy and also helping mom and dad because you can relieve them a little of the financial burden. Secondly, if you are a graduate and jobs are not forth coming, please do not stay idle, Try to request for a POS Terminal and get something started. Make a living while waiting for your dream job.
Having listed the above benefits of owning a POS Terminal, I urge you to start now and delay no more. It better late than never, now that you have the understanding and enlightenment, I know you are good to go.