Business tips

Five ways a cloud-based smart terminal can help your retail business.

By Jereme Sanborn on
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It’s no wonder that cloud computing continues to skyrocket in popularity. After all, it offers 24/7 availability from anywhere, enhanced security, increased reliability, and significant cost savings. With this in mind, it should come as no surprise that a cloud-based smart terminal can offer equally compelling advantages to your retail store.

Exactly what is a cloud-based smart terminal?

While traditional POS terminals process sales data on your computer network or server, cloud-based smart terminals operate entirely online, securely storing information on offsite servers provided by a cloud computing company.

Cloud-based terminals are a cost-effective payment solution for merchants of all sizes since the only interface they need to operate is a smartphone or tablet. Having said that, these solutions offer numerous advantages that extend far beyond their price. 

1. They’ll give your customers what they want.

These days, buyers are demanding a robust combination of personalization and convenience. In the payments universe, that means presenting your patrons with a plethora of payment choices including: credit and debit cards, contactless payments utilizing near-field communication (NFC) technology, and EMV chip cards. A cloud-based terminal can provide all of these payment options and is backed by security protocols that adhere to the latest PCI compliance requirements.

2. They’re easy to set up.

In the past, it may have seemed like you needed an entire IT team to help you through the maze of computer technology involved with running your small business. Fortunately, cloud-based smart terminals are incredibly easy to install and operate. Even the most technologically averse can complete the setup process in a matter of just a few minutes.

3. They’re easy to upgrade.

Ongoing maintenance is one of the most important yet least followed protocols for many overworked small business owners. A cloud-based system lightens a lot of that burden, automatically installing patches and updates as they are released. As a result, your software will always be the most up-to-date version, making your business and your customers less vulnerable to data breaches and hacks.

4. They provide remote management capabilities.

By its very nature, cloud-based technology can be accessed from anywhere...at any time. That’s great news for you as a business owner. Now you can track finances, manage user permissions, and generate analytics-based reports in real time from any connected device. These capabilities can save you time and money, particularly if you have multiple locations in different geographical areas.

5. You’ll leverage cutting-edge security.

Even out of the box, most cloud-based smart terminal solutions encrypt sensitive data and are PCI DSS compliant. Knowing that you’re using systems that are protected by the very latest in data security can provide peace of mind to you, your stakeholders, and your customers.

The cloud continues to open up new opportunities for retailers of all types and sizes. No longer do you need to possess the assets of a global corporation to take advantage of the enhanced security, availability, and reliability this technology offers. Incorporating a cloud-based smart terminal solution into your business amounts to nothing less than an investment in your customers and your future.