Loyalty is being integrated into social networking applications as a growing number of customers gravitate away from traditional ways to track rewards, and as restaurateurs seek new means of attracting and retaining clientele.

Social networking is a marketing method that can and should be employed by restaurant chains and smaller, independent businesses alike. Increasingly, consumers are looking for a personal touch when it comes to communicating with the stores and restaurants they patronize.

Your disclosures must also specify the exact amount of each additional fee to be charged in conjunction with a gift card, and how frequently it will be subtracted from the balance (for example, a $3 dormancy fee every two months).

The inventory tracking capabilities of any good POS system also enhance your profit potential by identifying any items that may have been pilfered or broken. Meanwhile, an integrated purchasing functionality can be used to track vendor lists, manage item costs and generate and receive purchase orders.

With computerized POS systems, many sales can be rung up by simply by scanning the bar code on the item or items being purchased. However, not all merchandise is bar-coded. Advanced POS systems, such as pcAmerica’s Cash Register Express, allow you to quickly ring up items that do not have bar codes by touching a corresponding button on a touch screen.

When a card is swiped through an electronic POS terminal, an electronic request is submitted to the processing network for authorization. Upon receiving the request, the network electronically determines whether the cardholder’s account is valid and if funds are available to cover the transaction. If so, an authorization code, guaranteeing your access to the funds, is transmitted to you. Your POS terminal or computer prints a receipt for the customer to sign and return to you.

Discussions about pricing are a huge part of setting up a merchant account in preparation for accepting credit and debit cards. And it’s not unusual for merchants to scratch their heads over how the rate they will need to pay for each transaction processed is determined.

In determining whether to accept your application for a merchant account, the provider will look at the length of time you’ve been in business to ensure that you understand the market in which you operate, know the potential business risks you face, and more. Your credit rating will be examined to assess how well you have repaid past loans, and if you’ve had any liens, judgments or bankruptcies filed against you.

If you’re among retailers and restaurant operators that have yet to jump on the credit and debit card acceptance bandwagon, you’re almost definitely doing your business a disservice. For one thing, offering customers the convenience and option of paying with “plastic” increases their satisfaction—a boon to repeat business. Accepting credit and debit cards also improves […]

Experts have long pegged the average return from a computerized POS system at five times the annual investment, reflected in higher profits—for example, a $20,000 hike in profits would be garnered by a store with sales of $200,000 per year and a $4,000 annual in investment in computerization.  But where do these increased profits come […]