Why are EFTPOS Transactions Gaining Popularity?

EFTPOS transactions have been in existence since the 1980s; however, in recent years, their popularity has surged. This can be attributed to various factors, including the convenience and security they provide. In this article, we will delve into the reasons behind the growing preference for EFTPOS as a means of conducting everyday transactions. To understand EFTPOS systems like Zeller.com fully, we’ll break down why these transactions are gaining popularity for businesses and consumers.

For Consumers

  • Convenience: It is a fact that carrying cash or constantly worrying about running out of coins for parking meters is not favored by anyone. With the convenience of EFTPOS, all you need to do is tap your card or phone and continue with your day. No complications, no inconveniences.
  • Security: In an era where digital fraud is proliferating, security has emerged as a paramount concern for consumers. EFTPOS transactions provide enhanced security measures like PIN verification and fraud detection to safeguard your hard-earned money.
  • Rewards: Many banks offer rewards for using your debit card for transactions, making EFTPOS a great way to earn points or cashback on purchases that you would already be making.

For Businesses

  • Cost-effective: Processing EFTPOS transactions is often cheaper for businesses than handling cash transactions. This is because physical cash requires more resources to count, deposit, and secure.
  • Increased sales: By accepting EFTPOS payments, businesses can cater to customers who prefer using cards over cash. This means a larger potential customer base and ultimately increased sales.
  • Streamlined bookkeeping: With electronic records of all transactions, bookkeeping becomes a breeze for businesses. No more counting cash and recording transactions manually, EFTPOS systems track everything automatically.

Best Features of Leading EFTPOS Systems

As time goes on, more features are being added to EFTPOS systems, making them even more convenient and secure. Some of the best features offered by leading EFTPOS systems include:

  • Contactless payments: As mentioned earlier, tapping your card or phone is a quick and easy way to make transactions. This feature has become increasingly popular during the COVID-19 pandemic as it minimizes physical contact.
  • Mobile payments: With advancements in technology, many EFTPOS systems now offer the option to make transactions using your mobile phone.
  • Real-time analytics: Businesses can track customer spending habits and monitor sales in real time, giving them valuable insights for making informed decisions.
  • Split payments: Splitting the bill with friends has never been easier. Many EFTPOS systems allow for split payments, so you don’t have to worry about doing math in your head or carrying around extra cash.
  • Branding: Businesses can customize their EFTPOS system with their logo and branding, adding a professional touch to the transaction process.
  • Touchscreen display: Some EFTPOS systems come with a touchscreen display, making it easy for customers to enter their PIN or sign for the transaction.

Overall, it’s clear to see why EFTPOS transactions are gaining popularity. With their convenience, security, and added features for both consumers and businesses, it’s no wonder that more and more people are choosing to use EFTPOS for their daily transactions.