For any retail business to thrive, having the best point of sale system is imperative for multiple reasons, including profit, functionality, and even aesthetics. This is no different for bar and restaurant owners. First, a POS system for bars and restaurants should always work with minimal trouble in order to process payments in a timely fashion, so customers are not burdened when it’s time to pay. After all, if a customer has issues paying their bill and has to use cash they might not have, that could lead to a bad review, even if the actual service was exceptional up until the payment issue. Likewise, the system should be fully customizable, with dynamic features that make cashing out customers as easy as handing them a menu.

Credit card processing fraud is a major issue for retailers. Not only can a breach of security cost a significant amount of dollars in the immediate term, it can negatively impact a company’s reputation, costing them customers and brand value in the long term. If your customers can’t trust you’ll keep their data secure, they will be less likely to keep doing business with you. 

A merchant statement is a document that is given to merchants at the end of every month that details customer transactions that have been processed and fees that are included for payment processing. Typically, statements appear with a deposit summary, breakdown of fees paid to the card issuing companies, and fees charged by the processor.

One of our main goals at NAB is to make running your business as simple as possible. To help in this mission, a tool has been introduced to help guide you through the use of Payments Hub. Little red dots know as “hotspots” will allow you to quickly find information needed to address any questions about the functionality that is available in that particular section. 

Selecting the right POS system is a big choice for a small business. Get it right, and you help streamline your workflows and enhance customer experience. Get it wrong, and you can run into operational difficulties, customer service nightmares, and damage your reputation. There are a lot of POS solutions out there, and understanding what matters, what doesn’t, and what questions to ask can be difficult. In this piece, we’ll provide you with all the information you need when choosing a POS system for your small business. We’ll also help you understand this whole EMV thing everyone’s been talking about & what it means to today’s small businesses.