Companies that accept cryptocurrencies do it in a variety of ways. Point-of-Sale terminals are perhaps the most convenient method among them. Setting up a PoS terminal takes mere seconds but enables people to pay with any cryptocurrency they want. There are two potential variants of PoS terminals, physical and virtual ones. NOWPayments offers a web-based PoS terminal which is in many ways superior to its physical counterparts. Discover the main reasons why your business should start accepting cryptocurrency with a Point-of-Sale terminal right away.
Key Points:
- A crypto Point-of-Sale is a reliable tool for accepting cryptocurrencies.
- Businesses that deploy crypto PoS solutions enhance their customer experience and improve their outreach.
- You can set up NOWPayments’ PoS crypto terminal for free and use it on your mobile phone.
Saving on expensive infrastructure
In the mind of many merchants, the deployment of a PoS terminal is often associated with costly infrastructure. In the majority of cases, businesses use actual physical PoS devices for accepting payments from their clients. These devices can cost an arm and a leg and may put any small company on the brink of bankruptcy. Nevertheless, a web-based PoS terminal solves practically all issues related to the installation of expensive equipment. A virtual PoS terminal can run on a mobile phone, laptop, or even a tablet. Merchants do not have to buy it or pay for its maintenance. For instance, the Dolder Grand Hotel in Switzerland deployed a web-based PoS solution for accepting cryptocurrencies which both saved it lots of money on equipment and provided it with more flexibility since payments can be made at any moment and place.
Expanding the range of payment methods
A good company must place its customer service above all else. Offering an extensive range of payment options is one of the key elements of excellent customer service. Unfortunately, many companies today fail to keep up with modern times and limit their payment methods to credit cards and PayPal. According to research, 8% of people abandon carts at the checkout when they cannot find an appropriate way of paying for their products. Thus, diversifying payment options must be viewed as a priority by any business. Featuring a PoS terminal for accepting cryptocurrencies is a viable solution when focusing on expanding the list of payment methods. For example, Thailand’s largest chain of movie theatres recently installed several crypto PoS terminals in its locations. Thanks to these devices, people now can buy movie tickets not only with fiat but also with Bitcoin and other coins.
Issuing individual invoices
A web-based PoS terminal is perfect for brick-and-mortar stores that wish to tailor their solutions to each client. With the help of a virtual crypto PoS terminal, merchants can issue invoices specifically for every individual customer. Personalization is a hot marketing topic, and companies must try to make their customers’ journeys unique in some way. Creating a separate crypto invoice specially for one client can be a great element of personalization.
Gaining global clientele
Cryptocurrency payments, unlike bank transfers, have no boundaries. Cryptocurrencies can be transferred from anywhere to anywhere in a matter of seconds. As a result, PoS crypto payments can become a real competitive advantage for companies looking to establish a global presence. Arms&McGregor, an international real estate broker, introduced a crypto PoS terminal to facilitate the process of receiving payments from its clients who often live in different parts of the world.
Provision of anonymous payments
Let’s face it, not everyone is fond of the idea of exposing their personal details each time they pay for their cup of coffee. Yet, people do just that each time they use conventional means of payment such as credit cards. Cryptocurrency is a great alternative to traditional payment methods because it is anonymous. Thus, businesses, by offering crypto payments using a PoS terminal, do not infringe on the privacy of their clients and let them keep their information confidential. Privacy is essential in the hospitality industry, and that is why the Pavilions Hotels & Resorts implemented a crypto PoS terminal.
How to accept crypto using PoS
In order to accept crypto payments with a virtual Point-of-Sale terminal, you can follow these simple steps.
- Sign up for a NOWPayments account.
- Add your crypto wallet address and generate an API Key.
- Go to Store Settings >> PoS Terminal Link.
- Create a link.
- Get profit.
To conduct payment, you will need to generate a QR code after specifying the order sum and the preferred cryptocurrency. The code will take your client to their crypto wallet, where they will have to confirm their transactions.
Conclusion
Businesses that wish to stay competitive need to implement the latest technological advances. Cryptocurrency payments are certainly a trend of the past few years, which numerous companies still fail to embrace. NOWPayments offers an easily deployable PoS solution for accepting crypto as payment.