In order to understand how integrated payment solutions benefits salons and spas, we first need to understand what is meant by integrated payments, and how does it work. In the most layman terms, an integrated payment system is a marriage between the payment processing system and the POS system, wherein both the systems freely exchange information. In other words, it’s a system which works on the basic premise of consolidated data recording and free exchange of data between multiple administrative processes. Still wondering how this would help your salon or spa? Then read along, to know how consolidation and sharing of data can vastly improve your daily operations.
Convenient & Fast Payments
The days of customers willing to wait at your front desk to ask for an invoice, check the records and wait to settle invoices are long over. Customers today, driven partly by the advances in technology and partly due to the ever-busy schedule, seek things that are convenient, simple, and fast and integrated payment systems helps businesses to cater to those expectations. In complete contrast with a traditional system, where customers had to present their cards at the reader terminal and then sign the charge slip, integrated payment systems no longer require guests to physically present the card or sign paper. Instead, customers can simply tap on the app to confirm the payment. Additionally, as integrated payment systems auto populate the financial information it offers customers the flexibility to choose from their previously linked multiple payment methods such as wallets, NFC, gift card etc. As a result, the customers no longer need to be present either at the front desk or be restricted in their mode of payment. Invoices can be settled anytime, and anywhere.
Improved Accuracy
An integrated payment system makes your entire payment and accounting process almost error free and accurate. These systems automatically do all the computations, share the invoice figures to collect payments and once the payment is captures, share the transactional information with the accounting software and the inventory management module to make relevant book keeping and stock keeping entries. As the system works with minimal human intervention, it completely removes the chances of having inaccurate data due to human error.
Secure & Safe Transactions
One of the best advantages of an integrated payment system is the security boost that these systems give to your operations ecosystem. By consolidating all financial transactions under one umbrella, and in a closed ecosystem it effectively reduces the access points through which fraudsters can steal. Moreover, as most of these integrated payment systems for salons and spas are hosted on cloud based off –site servers, you no longer have to maintain and upgrade your own IT infrastructure. Zenoti Pay an integrated payment system is a fully PCI compliant payment system, which comes with various other security measures such as card tokenization, EMV, and end-to-end data encryption to keep all the data safe and secure. As a second layer of security, Zenoti Pay also offers you to set up role based authorization for data access, such that financial information is limited to selected few only.
Enhanced Customer Engagement
Integrated payment systems truly transform the way how business interacts with the customers. The seamless integration of the payment system with social media pages, e-commerce websites, apps and websites allow customers to use any platform and yet not have to worry about going through a long drill to settle invoices. All payments can be accomplished in a few taps on their personal devices and in just a few seconds. The sheer ease of use, accorded by the system, makes it easier for customers to spend more.
Scalability
A lesser known, but certainly important benefit of implementing an integrated payment system is that it can help you scale your business. The platform offers many benefits such as multiple payment options, and past purchase history for customers, and accounting integration, automated settlements, transparent and flat fee structure, payment related insights to understand the consumer behavior for businesses. Thus, providing with both resource and the agility to scale the operations and grow the business.
Aside the above, integrated payments for salons and spas also provide additional benefits and help in boosting revenue, managing cash flow and streamlining operations. These systems also help you save tremendous amount of time, which would have otherwise been wasted on accounting entries, reconciliation and other tasks. Should you wish to know more on why you must consider implementing an integrated payment system for salons and spas, read our post,” 5 Reasons Salons and Spas Need Integrated Payment Solutions”
