Payment Gateways and the Future of Point of Sale in the Cloud
You may have heard about “the Cloud” but don’t really know what it means. The Cloud is a metaphor for the internet — its name derived from the abstract nature of both the internet and clouds. Cloud computing is the use of multiple server computers over a digital network as if they were one. The tremendous growth in Cloud computing over the past five years has led to the increased development of web-based software. All signs indicate the future of point of sale will reside in the Cloud.
Merchants are discovering numerous advantages of adopting web-based software technology for their business in the form of payment gateways. A payment gateway linked to a merchant account is an online system for processing credit card or other payment transactions in real-time. The payment gateway facilitates the coordination of communicating a payment transaction between the various backend payment networks or banks. It usually provides additional features such as including an online virtual terminal for manually processing transactions, transaction reports and more.
As a leading merchant service provider, we offer proprietary payment gateway solutions for merchants. Our technology is always PCI compliant to minimize the risk of data breaches.
Payment gateways allow you to accept multiple payment types whenever and wherever your business dictates. It’s an ideal credit card processing solution for mobile merchants and a cost-effective alternative to point-of-sale terminals.
By accessing a payment gateway for credit card processing, merchants can accept payments over the counter, over the phone or over the internet. This can be done using a single integrated system through any web-enabled device such as smartphones, desktop computers, laptop computers or tablets.
Web-based software technology in business has been spurred on by major industry trends:
- Lowered cost for Cloud-based hosting
- Escalated number of smartphone and tablet owners increasing internet connectivity
- Merchants’ recognition of expanding opportunities to reach consumers and increase profitability through business applications
- Improved web-based technology enables software to operate faster and more efficiently for an enhanced user experience
If you are unfamiliar with storing data in the Cloud, it may seem risky. You might feel it’s complicated and unsafe — but the opposite is actually true. In a PCI-compliant Cloud infrastructure, all information is password protected and more secure than any local data-storage medium.
We take a proactive and comprehensive approach to secure processing. Our representatives are thoroughly familiar with Cloud computing and can explain to you, in simple terms, its application in credit card processing.
Our proprietary payment gateways provide the functionality of a terminal combined with comprehensive reporting for both business-to-business and business-to-consumer merchants.
Other benefits of web-based point-of-sale payment processing are insights that can be gained from business analytics, having more control over inventory and eliminating the need to purchase payment processing software or special credit card terminals. And there’s no need to purchase extra hard drives to back up critical data since web-based software does it for you. Data is backed up constantly and authorized managers have access to it at all times.
There are many money and time-saving benefits for merchants adopting Cloud-based point-of-sale technology:
- When using payment gateway functionality to accept credit cards, we maintain the payment processing technology. This allows merchants to focus on running their business.
- Because all web-based software applications run on any web browser via an internet connection, payment gateways are conveniently accessible through any internet-enabled device 24/7.
- Merchants will always be operating on the latest version of the product and never have any disks to install or software to download.
- With web-based software there are no mandatory updates or installations to implement. Eliminating that downtime is a huge advantage for retailers, restaurants and other businesses that experience high-traffic times, to avoid missing out on potential sales.
Less cost and more efficiency have merchants feeling like they’re on Cloud nine. With web-based point-of-sale solutions, you can focus on what matters most — growing a successful business.