Payments are a hot topic for retailers, especially local small business owners and especially right now as the Reserve Bank of Australia is considering its position on surcharges. With margins under pressure and transaction volumes high, the difference between a good payments deal and a bad one can add up to thousands of dollars a year.
Recently, there has been a lot of noise in the industry about “unified payments”, POS software that comes with a built-in, mandatory payments platform. Some market this as a groundbreaking new feature. We think this noise abut unified payments is nonsense.
The reality? Integrated payments have been around for years. It isn’t new; it is a necessity.
However, the trend of software companies forcing retailers to use a specific payment processor, and taking a cut of every transaction, is something we view differently.
Do you want your software company profiting from every transaction in your retail business? What have they done to win you that transaction, to bring a new shopper to your shop, to get someone to buy more? This is your business. You should profit from your innovation, your work.
We don’t “tax” your success.
At Tower Systems, we believe that a POS software company should generate revenue from the software itself, not from transaction fees. That approach keeps us focussed on o0ur product: our software and the customer service supporting its profitable use.
We believe that a software company charging a percentage of your turnover is like a tax imposed by the software company, a revenue grab for a tech business that did not do the hard work of winning the shopper. Your business growth and success should be yours to enjoy.
That is why Tower Systems does not require retailers using our software to deal with any specific bank or EFTPOS payments processor. We do not lock you in. You choose what’s right for you.
The benefits of choice
Because we provide an open ecosystem, our customers can freely choose the bank or provider that best suits their financial and operational needs.
Whether you prefer CBA, NAB, Westpac, ANZ, Suncorp, or a specialist provider like Tyro, our software integrates seamlessly. This flexibility allows you to shop around. We have retailers today paying as little as 0.7% for payments because they had the freedom to negotiate the deal that was right for them.
The advantages of integration
Regardless of which bank you choose, the Tower Systems integrated EFTPOS solution offers immediate operational benefits:
Fast checkout: Manual data entry is eliminated, streamlining transactions and reducing queues.
Reduced errors: No manual keying means fewer human errors (like typing $10.00 instead of $100.00).
Easy surcharging: You can easily and accurately pass on EFTPOS costs to customers if you choose to.
Enhanced security: Data transfers directly between the POS and the terminal, reducing the risk of data breaches.
Better hygiene: Customers tap, swipe, or insert their own cards, minimising physical contact between staff and shoppers.
Our partnership with Tyro
While we offer choice across all major banks, we are particularly proud of our long-standing integration with Tyro.
Tower Systems was an early adopter of Tyro integration, and today we have hundreds of small business customers using this specific solution. It is a single-touch POS/EFTPOS solution that is PCI DSS Level 1 compliant (safe and secure) and incredibly reliable.
We think the Tower Systems and Tyro combination is one of the best solutions for Australian specialty retailers, from garden centres and jewellers to bike shops and newsagents. However, if it isn’t the right financial fit for you, we will say so.
All that said – you choose the payments platform that works best for your business.
Supporting local business
We are an Aussie based POS software company serving thousands of local retail businesses across Australia, New Zealand, and the Pacific.
Our direction is not controlled by a “revenue grab” business model. Our focus is on small businesses. We believe you should have a voice, and importantly, you should have a choice.
Get in touch
If you are looking for POS software that gives you the freedom to choose your own banking partner, we would love to chat.
Visit our website or contact us directly on 1300 662 957 or sales@towersystems.com.au to request a demo. If you’re in NZ, please call 0800 444 367.
Before you go, let’s loop back on payments and that some software companies require you to use their platform for customer payments. This sees them making something from every transaction you process. Every days there is a portion of the sale, your sale, that they take. They may say it’s part of the cost of the software. The thing is, for them, a $10,000 sale costs as much to process as a $1.00 sale, yet they take a %. That’s a serious business cost to consider. Do that, consider it.
Make the choice that’s right for you and your retail business.
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