Liquor store POS systems and wine point of sale systems

Written by: Eisla Sebastian

Traditionally, liquor stores and wine shops have used a punch key cash register as their point of sale system (or POS). While registers once served their purpose, these machines are now outdated and hinder the efficiency of your sales staff. In response to the changes in technology and money exchange trends, modern POS systems for liquor stores need to have specific components to make them effective. When you buy liquor store POS systems for your business, you need to ensure that they have these basic components, as well as the other components that interest you.


Liquor store POS systems: common applications

Most liquor store POS systems are going to have the same basic features. This may include things like a touch screen monitor, credit card scanner, check reader, and inventory database module. Add-ons that you can request from your POS software manufacturer include quality control check systems, bar code readers, special reporting and tracking programs, and special pack quantity options.

Other features that liquor store POS systems and wine point of sale systems have that can be very beneficial to those businesses are tools for inventory management and tracking as well as communication. Inventory management tools that come with liquor store POS systems allow you to quickly identify what products are in inventory storage, what products are on your shelves, and what you need to reorder. You can even set up your POS system so that you can place new orders directly through your POS system.

Tracking tools can be used to determine which liquors are selling well and which are difficult to move. This can help you better manage your available stock so that you're moving the products you stock quickly. It can also help alert you when orders need to be placed or when you need to rotate your stock.

Finally, communication tools offered by POS systems allow you to network your liquor stores' POS systems. This allows you to monitor what is selling or not selling at each store if you have multiple locations, check the inventory at any store you own, and update the POS systems for all of your stores from your main server. The networking process is usually accomplished via a modem communication setup.

Wine point of sale systems and customer loyalty programs

Even a family-owned wine shop can have a competitive advantage over chain store wine retailers by using a liquor store POS system. Liquor and wine POS systems allow for customer loyalty programs such as House Accounts for loyal customers -- think about inviting your customers to be a part of a Wine Club for a new wine each month! You can also offer gift cards, track deposits for casks of wine, receive notifications when a special label is almost sold out, and provide credit accounts for frequent customers. There are even marketing features on some liquor store POS systems that allow you to store shopper information for a future email newsletter about wine tastings, wine sales, and special events for exclusive customers. These are features that are only available with liquor store POS systems, so make sure you request a liquor store POS system price quote if you'd like these features.

Finding the right liquor store POS system

When you're shopping for a liquor store POS system, it's very important that you understand what features your store needs. For example, if your store deals with a rotating inventory of seasonal items and liquors, then you'll want a POS system that is easy to update or comes with a large database of products.

Next, you'll want to look at how easy your POS system is to use. If you have a staff that is made up of both native and non-native English-speaking employees, then you may want to select liquor store POS systems that have graphics on the touch screen in addition to the written product description.

Regardless of what features you want your liquor store POS systems to have, it's critical that you request free price quotes from a number of vendors. This will ensure that you are not only getting what you want but that you are also getting the best deal on the POS system. Requesting free price quotes will also provide you with the information that you need to negotiate a better deal with the vendor that you decide to work with.

Finding the best merchant account providers

If you want to receive fast payments or expand your business to more customers, it helps to accept credit card payments. Do business by mail order or over the Internet, and it becomes a necessity. While applying for a merchant account can seem cumbersome and confusing, the best merchant account providers will take the time to walk you through the process.

First, whether you use BuyerZone's free request for quotes service or do your own research online, make sure you talk to at least four to six providers. This way, you'll become familiar with the types of questions the best merchant account providers ask, and you'll be able to see which companies are interested in getting you the best rates and services and which just want to complete the sale.

Solid customer support is the most important thing you should look for. The last thing you want is problems with processing your credit cards, and the best merchant account providers will help ensure that doesn't happen. Learn what kind of live customer service they offer, how they handle chargebacks, and how quickly they respond to service calls. A great way to find strong customer support is to compare services from BuyerZone's best merchant account providers.

The best credit card processing providers also try to learn everything about your business before setting you up with an account. First, they need to investigate that you are a legitimate business - both to protect their reputation and check if you qualify for better rates. Next, they need to learn how you will use your merchant account. If it's in person, they have to make sure you have a credit card terminal. For mail order and Internet transactions, they'll need to help you securely accept credit cards.

Additional characteristics of the best merchant account providers

Provide all fees and charges in writing
Offer references that you can contact
Clean record with the Better Business Bureau
Willing to lower set-up and monthly fees if your monthly volume is low
Have helped businesses similar to yours secure merchant accounts
Find ways to help you qualify for low discount rates
Provide inexpensive or free credit card terminals
Ultimately, the best merchant account providers are those that treat your business like a partner, taking the time to understand your needs so they can offer a solution that you'll be happy with for many years to come. And the first step in finding the best credit card processing service is using BuyerZone's free merchant accounts quote request service to get connected to qualified suppliers in your area.

Reference: http://www.buyerzone.com/retail/credit-card-processing/ar-best-merchant-account-providers/

How the Credit Card Processing Works

When a merchant makes a sale and swipes a customer's credit card, the card number, the amount, and the merchant ID travel over the credit card processor's computer network. The credit card processor is usually a company that does nothing but provide credit card processing services.
From the processor's network the transaction goes to a credit card computer network. If the customer is using Visa, for example, the transaction will go to Visa's network. In turn, the electronic transaction goes to the bank that actually issued the card. The bank then checks the account and verifies the customer has adequate credit to cover the purchase. The bank then sends the merchant an authorization over the network. Now the sale is complete, but the transaction is not — no money has changed hands yet.

At the end of the business day, the merchant sends that day's charges, in a batch, to the credit card network for processing. The transactions travel via the merchant's credit card processor. Individual transactions are then stripped out and sent back to the individual cardholders' banks. Banks then debit cardholders' accounts and make appropriate payments to the merchant's credit card processor through the Federal Reserve Bank's Automated Clearing House.
The credit card processor then credits the merchant's bank account for the transaction amount, minus its fees for the transaction. Those fees also go toward paying transaction fees to the issuing bank and the credit card network. Despite the use of computers, it can take two business days before the merchant's account is credited.

Reference: http://youtu.be/rItDwdtvMFw

What is electronic funds transfer (EFT) processing?

EBT, or electronic funds transfer, is a computerized system that performs financial transactions electronically without any paper money being sent from one bank to another. The use of electronic funds transfer has become more widespread with the personal computers, improved networking systems, and security features such as encryption. EFT processing is the process of transferring funds initiated by electronic means including ATMs, computers, telephones, point of sale systems, and other electronic terminals. Electronic finds transfers may also be referred to as automatic bill payment, automatic debit, electronic bill payment, or direct debit/deposit. Most users of EBT processing find it safe, efficient, and less expensive than using traditional paper checks. In fact, many institutions such as banks offer lower interest rates on loans or free services if customers use ACH/EFT processing.

What type of transactions can be handled by EBT payments?

EBT payments can be used for both debit and credit transactions. The following transactions can be executed by electronic funds transfer: sale, withdrawal, refund, cash back, deposit, payment, and inquiry. According to NACHA, 43 percent of all U.S. households use ACH/EFT payments for at least one recurring payment per month. In addition, 84 percent of ACH/EFT payment users say they are very satisfied with using EBT/ACH.

How are EBT or electronic payment services transactions authorized?

There are many security protocols in place to ensure that electronic payment services are secure. An electronic funds transfer goes through several security procedures throughout its transfer through the network ensuring that the whole process is legitimate and legal. Card holders typically are required to provide their signature as a form of authentication, and sometimes a personal identification number (PIN) may be used. Other means of authentication involve using a credit card stripe reader to read the card's magnetic data. Data is sent to be authorized using encryption to maintain the integrity of the inquiry for electronic payment services. For transactions where a network connection is not available, electronic payment services can be authorized offline. There may be higher rates involved, since the security risks are greater. Some security measures taken include checking to make sure the card number is not on a list of “hot cards,” which is a list of known stolen credit cards, limiting the number of offline transactions, and random online authorization.

Reference: http://www.ebtprocessing.com/