Just like unlocked cell phones are better than locked ones (you can only use one telecom company), open merchant accounts and open point of sale systems are the best setup for the growing business.
What’s the best option to scale my business?
Having an open merchant account that you can use with any software, hardware, shopping cart or credit card terminal is critical to running a small business. You want complete portability of your merchant account so you can choose the best software for your business and even switch or add Point of Sale solutions, software or new online shopping carts should you need as your business grows.
What credit card processors work with POS systems?
Likewise, the best POS Systems are Open POS Systems. These POS systems integrate with the “open” merchant account providers above to provide credit card processing services. This allows you to shop around for the best value merchant account without having to change POS software. This is very important given the time and energy you’re going to invest in your learning and optimizing your software.
Decoupling your POS from your merchant provides flexibility and gives you the following protection:
- You can integrate your existing merchant account to your POS
- You can change merchant account providers at any time without the risk of losing your POS system, for instance, if you:
- Get in a dispute with your existing merchant account
- They hold your credit card deposits longer than they should
- Their reporting systems and technology is poor
- They increase rates or fees
- Your local sales rep leaves that credit card processing company or the merchant account company no longer exists
- Overall, it gives you the ability to shop around for the best value merchant account without the risk of losing your POS investment (both $ and time)
Note, some POS vendors offer their own credit card processing service and bundle it with their POS software and hardware. That said, even if they bundle a merchant account with their POS, you should always have the choice to integrate another open merchant account of your choosing down the road.
What does Punchey support?
Punchey offers open integrated merchant services as well as the Punchey Gateway to connect to other open merchant account providers. It’s your choice on how to connect!
Learn more about Punchey Payments