Retailers are arming themselves with operationally minded tools to trim the costs from each transaction. Here are a few:
d or use a keypad, thus saving cashier labor. Terminals that accept a combination of payment methods on a single piece of hardware are also being employed. These systems remain ready, always on-line.
Speedy lines: Merchants are scrapping slow dial-up network systems and shifting to faster telecommunication and network lines. The larger percentage of transactions using debit and credit approval has been found to be equal to or faster than the check approval system. Saving just 30 seconds per transaction at the checkout on a Friday afternoon is a godsend, retailers report.
Reducing work: Retailers are seeking methods of eliminating manually entered transactions. Transaction reports are reviewed daily by location to determine if read heads need to be adjusted or cleaned or if training is the issue in reducing inefficient transactions.
Training: Retailers are putting training into the mix of cost-saving ingredients. Front-end personnel are being trained to examine credit and debit cards not only to protect customers against fraud, but as a front line effort in educating customers about the various financial options available to them in their wallet. Cashiers are becoming better acquainted with the new products that can be used as an on-line debit-saving retailers interchange fees.
Constant search: Retailers continue to seek the best fees associated with transactions. Continual evaluation and comparisons give operators a scope of what options is available. Sometimes the national buying agreements don't guarantee the best package, industry experts said.
