2016-03-16 00:00:00Money & FinanceEnglishSelf-Payment Systems: Self-payment systems, also known as self-checkout are machines that provide a mechanism for customers to process...https://quickbooks.intuit.com/in/resources/in_qrc/uploads/2017/05/Money-and-Finance-Installing-self-pay-systems-in-your-store.jpghttps://quickbooks.intuit.com/in/resources/money-finance/installing-self-payment-systems/Installing Self-Payment Systems In Your Store

Installing Self-Payment Systems In Your Store

2 min read

Self-payment systems, also known as self-checkout are machines that provide a mechanism for customers to process their own purchases from a retailer. In self-checkout systems, the customer is required to scan the barcodes themselves, input the types of items such as fruit and vegetable. They are an alternative to the traditional cashier-staffed checkout. Depending on the machine you select, you can program the machine to accept payments by various methods.

How to install self-payment systems in your store and get it running?

You can easily install self-payment systems/ kiosks at your store. You can do this by either outsourcing it to local contractors or by going online and availing such services from other vendors. You must understand that it is not just the machine but also the background programming that is very important.

You must ensure that the developers that you engage in for the programming of your software – create a seamless UI so that your customers don’t take much time to adapt to it. The easier your interface is, the faster your customers can transact their business and better will be the profits that you earn. Some advantages of self-payment systems include –

  • The efficiency and speed of checkout: Rather than dealing with long lines that get backed up by customers waiting to pay, once accustomed, one can quickly make purchases by ringing up items themselves.
  • Self – checkouts take up less space: Multiple kiosks can be placed into a relatively small area. In the amount of area required for a traditional checkout with a cashier, up to 6 automated kiosks can be placed. The space that is saved can be used to stock up extra products and expand your business.
  • Fewer employees to pay: Installing an automated kiosk reduces the number of statutory payments that you have to pay. Your one-time installment means that you don’t need to keep paying your employees, the money that you can use for, again, to expand the collection of goods at your store.

Installing self-payment systems/ kiosks offer convenience and benefits for any retail company or store to help in the growth of a successful retail business but it has its disadvantages too.

  • Shoplifting: Given the ease to fool a machine, the risk of shoplifting increases with the installation of self-payment systems. In 2007, a man was charged with replacing the tag of a plasma TV with that of a DVD, and trying to purchase it through self-checkout, in the US. It is therefore very important to have a vigilant staff to monitor the activities of the customers or device smart measures, like weighing options to prevent such cases of shoplifting.
  • Customer Interaction: Self-payment systems reduce the chances of interaction between your customers and your staff. This lack of personal interaction reduces the chances of providing a personalized experience to your customers. In other words, you are losing a chance to establish a unique customer-friendly identity for your brand.
  • Cybersecurity: Even with all the advantages that computers bring, cybersecurity is one field where even the most advanced of systems have failed to prove themselves to be totally secure. Likewise, even self-payment systems are prone to hacking and utmost care needs to be taken in order to avoid such instances.

As businesses get more competitive by the day, it is essential to adopt new technologies to integrate your business into this new competitive environment. The more modern installations your store has, the more attractive it becomes for your customers.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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