It is common knowledge that offering your customers different methods of payment for their purchases is good trading practice. As retail has evolved over the years many new payment methods have arrived and customers look for flexibility in the way they shop. Retailers have to offer flexible, fair and innovative payment methods to their customers to match their expectations. By offering the right payment methods to customers, stores can remain competitive and attract new customers.
Common traditional payment methods a store uses are credit cards, cash, gift cards and so on. There is another payment method that is widely used and very appealing to customers – the Sale on credit, or the layaway.
With credit allowance, your customers can pay for their purchased items at the pace at which they wish to fulfill the payment. Depending on the policies you want to hold and the specific item purchased, the customer can pay in several slices allowing them the financial freedom they needed to buy a product they otherwise would not. The item can either be delivered immediately, or after a deposit has been made, or even after the full payment has been done.
At store level, a customer becomes eligible to buy on credit by satisfying the stores’ credit sales criteria. The sales rep can choose whether to deliver the item straight away or when other requirements are fulfilled. Payments are due depending on the repayment schedule the customer and store agrees on. From the point of sale level, the customers’ account can be automatically updated with the payments that are made, keeping track of the credit balance and other needed information.
Posterita’s point of sale interface is easy to use and allows for payment on credit, assign specific credit limits to customers, make customers eligible for credit purchases, and so on. Amendments can easily be brought to any customer profile and credit limits. At point of sale level the sales rep can easily access the credit balance of any customer prior to purchase to see the eligibility of the customer. Additionally, the point of sale system keeps track of all the debtor reports to serve your bookkeeping and for the convenience of the customer. This will give you as the retailer all the freedom to make the right choice for every customer, aiding your customers in every need they might have and giving your retail the edge over others.