Editor’s Note: This blog entry was originally published on December 28, 2016, and was updated on June 26, 2020.
Using point-of-sale (POS) systems to accept payments isn’t as straightforward as you might think. Merchants use a variety of different software solutions to run their businesses and accept several forms of credit card payments. Check out this informative infographic outlining how businesses accept payments and use point-of-sale systems.
Multi-Channel Card Payments
Businesses accept payments across several channels:
- 91% take payments over the phone (card-not-present)
- 72% have physical store fronts (card present)
- 49% take payments on their websites (eCommerce)
Industry-Specific Point-of-Sale Systems and Integrated Payments
Merchants consider POS systems that are specifically designed for their industry and their industry’s specific needs, to be very important for their businesses:
- 58% rated industry-specific POS systems “very important or somewhat important”
- 19% rated industry-specific POS systems “neither important nor unimportant”
- 23% rated industry-specific POS systems“somewhat unimportant or very unimportant”
Integrated payment data is important to merchants. Most businesses prefer accepting payments across multiple channels and want systems that can accept different payment methods. In a survey about integrated payment data:
- 69% rated integrated payment data“very important or somewhat important”
- 11% rated integrated payment data “neither important nor unimportant”
- 20% rated integrated payment data “somewhat unimportant or very unimportant”
What Software do Businesses Use?
Merchants use multiple software systems to keep operations running, including:
- POS or business management software
- Accounting software
- Payroll services
- Inventory management software
Payments Integration into Business Management Software
Integrating payments into business management software is a must these days. However, only 43% of merchants say they have some degree of payments integration within their business management software. This provides an opportunity for independent software vendors (ISVs). By including integrated payments within your software solution, you can offer merchants this missing piece. Contact us today to learn more.
All statistics from a survey conducted by Global Payments Integrated.
