How long are your checkout lines? Some people might tell you a long line is good for business. Think again. According to surveys of grocery store buyers, 32% of customers choose to shop elsewhere to avoid a long line — and 11% of shoppers abandon their trip altogether. What does that mean for sales? Retailers’ long lines sent 15.8 billion in sales to their competitors in 2018.
In the checkout line, every second counts. So, what can you do to speed up checkout and get your customers out the door? One solution is to speed up EMV transactions. The transition from speedy, fraud-susceptible card swipes to more secure chip readers has been difficult for many businesses. The awkward pause between dip and removal seems endless.
That’s why we’re partnered with Clover — the industry’s fastest EMV point of sale (POS) checkout service. With Clover, you can speed up credit card authorization drastically. The total time to dip your card with Clover clocks in at under three seconds.
Respecting Consumers’ Precious Time
Whether they’re trying to snag their morning joe without being late for work or get their groceries home before the ice cream melts, customers need things fast — and in a long line, time seems to come to a standstill. Even for a shopper who happily spends two hours browsing, 10 minutes in the checkout line can feel unbearable. Just the same, after enjoying a leisurely lunch, your diners want to pay and be on their ways. No matter what your business, time is critical when it comes to accepting payments.
In your customers’ eyes, there are limitless benefits of quicker checkouts, courtesy of a high-tech POS system. Here are a few of our favorites:
- Offer more ways to pay: Many consumers prefer credit cards over cash because they’re as simple as a swipe or a dip. Even faster checkouts come in the form of contactless payments. When your customers use a mobile wallet or a contactless-enabled card, they’ll enjoy more ways to make their shopping trip fast.
- Pay from anywhere: Some businesses are eliminating the line for the register altogether. With mobile POS systems like Clover Flex, you can turn anywhere into the checkout aisle. Wireless card readers let your team take payments wherever they go. They can help customers find what they need and then collect payment right then and there. In restaurants, waitstaff can accept payments at the table. Customers don’t need to leave their seats or wait for their card to come back to them.
- Send email receipts: Even after a sale is complete, you can cut down on checkout times with digital receipts. Never again will your customers have to wait while their receipt prints out. As a bonus, they don’t have to fumble for a place to put it once you hand it to them. Your customers will also save time later on if they need to review their purchases. Paper receipts sit crumpled and forgotten at the bottom of shopping bags and the folds of wallets. Receipts are indexed and searchable when they go straight to your patrons’ inboxes.
How Can Business Benefit From Speedier Checkouts?
You know how the old saying goes — time is money. Speeding up transactions — even by a few seconds — is good for business. Here’s how an efficient checkout experience can boost your bottom line and grow your business:
- Happier customers: For nearly any company, taking payments is your last chance to make a good impression. A great experience can be sullied quickly by a slow checkout. The more you can do to bring convenience to your customer experience, the more likely they are to come back.
- Shorter lines — or none at all: The shorter your checkout lanes, the fewer staff you need running the registers. Also, the more appealing and less crowded your shop looks to customers. Whether you use our industry-leading EMV to shorten lines or a mobile card reader to eliminate them altogether, your business will come out on top.
- More sales earned: If you don’t accept credit cards, you’re missing out on serious revenue. In 2018, 29% of Americans said they don’t ever pay in cash during a typical week. A total of 46% don’t concern themselves with whether they have any bills in their wallets. With a POS system, you won’t lose a sale because a customer is unable to pay in cash.
- More efficient staff: When checkout is faster, you don’t need to dedicate as many staff members to handle payments. Your team can focus on one of the many other essential functions that go into running your business. With a wireless checkout system, you don’t need a team member dedicated to the register. Instead, your sales team or waitstaff can focus on serving your customers and integrate taking payments into their interactions with customers.
- Improved rush preparedness: Between the daily lunch rush or the holiday gift scramble, you probably have times when business gets busier. Whatever that means for you, a speedy checkout process is a sure-fire way to make sure you can handle any uptick. You don’t have to predict when you need extra staff because a lighting-fast POS system is always on and ready to go.
EMV Transactions Are Here to Stay
Do you really need to upgrade to an EMV reader? The answer is yes. They’re not going anywhere — over 53% of America’s card purchases are EMV transactions. What’s more — the U.S. is actually behind the curve. Most of the world, including Europe and even our neighbors in Canada and Latin America, use EMV for over 90% of card transactions. When the country transitioned to EMV, it was partially to make life easier for American shoppers abroad and foreign shoppers on U.S. soil.
EMV also offers superior fraud protection. Information on a magnetic strip can be easily stolen and duplicated. Chipped cards can store more information, including encrypted data, which keeps financial information secure. Consumers crave that protection, and it’s safer for your business, too.
As we make the switch from chips to contactless purchasing, EMV-capable POS systems become even more ingrained in our consumer culture.
Satisfy Your Need for Speed With VMS
A POS system gives you countless ways to bring convenience and a faster checkout process to your customers. If you’re ready to modernize, upgrade to the system with the quickest EMV reader by Clover. At 2.93 seconds per dip, you’ll feel the difference with every customer transaction you make.
As a proud Clover partner, Velocity Merchant Services gives you a whole host of benefits. When you get your Clover POS system from us, you have access to a dedicated Clover specialist, plus 24/7 customer support from the VMS team. We can help you accept EBT payments and even set up a cash discount service to get more out of your many payment methods. You can also get a free website and next day shipping.
Reach out to us today, and we’ll build you custom retail solutions based on your unique business needs.