Small businesses can struggle to keep up with expectations of payments technology, and the slick offerings of the major retailers just adds to the pressure.
There’s a perception amongst some that the smaller retailer is unlikely to keep up with the pace of change. But is this really true? To gain a deeper understanding of the challenges facing smaller retailers, Elavon conducted research with its existing customers throughout the UK and Ireland.
Some 78% of retailers told Elavon that accepting cards is critical to their business and that new payment technology is of great interest to them. Whilst there is an appetite for new tech, almost half said they felt nervous about investing in technology, unless they were clear on the business benefits. Put simply, they need to be confident that technology will help them understand their customer better as well as accelerate their business potential.
Acting on this research, Elavon introduced its customers to talechTM, an iPad-based till system. Transforming the humble iPad into a retail multitasking tool, talechTM centralises admin tasks such as stock checking, ordering, staff scheduling and payments acceptance, all in one place.
Adding value to payments
The insights into customers’ buying habits was particularly useful for creating accurately targeted customer promotions. Turning an iPad into a point-of-sale solution puts business critical information literally at your fingertips. Everything is accessible from anywhere, from understanding bestsellers and staff performance through to stock levels. Plus, there’s minimal hardware investment needed, it’s simply an app on an iPad.
What retailers liked most about talechTM is how it’s been tailored for the smaller business owner. Womenswear retailer, Stolen from Susie, is a family-run business with five fashion stores throughout the southwest of England. Since using talechTM, it has saved considerable time and money, freeing staff up do more of what they love.
“Using our previous inventory management, we would load approximately 70 stock items per month manually, taking hours of administration time. Now we load our new stock in 10 minutes, giving that time back each month to the business." said Lucy Chapman, Director, Stolen from Suzie.
Elavon loves the idea of making large-chain technology accessible to small retailers. By listening to retail customers, Elavon has been able to strengthen its offering to the segment, and talechTM helps make this possible.
To find out more and hear what Elavon customers say, go to:
Elavon Inc., is a processor of credit card transactions and a subsidiary of U.S. Bancorp. Elavon offers merchant processing in more than 30 countries and supports the payment needs of more than 1,000,000 merchant locations across the globe. Elavon is the 4th largest U.S. credit card processor and is a top six acquirer in the European marketplace.
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