Electronic Payment System: What is E Payment & Why Does Your Business Need One?

Electronic Payment System: Why does your business need one?

By Vinisha Kataria | June 25, 2021

Vinisha is the Digital Content Manager at Pine Labs and brings with her, more than 10 years of professional experience.

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While Cash is still king in the Indian economy, the convenience, speed, and comfort offered by a electronic payment system is making it a popular mode of checkout transaction, especially by Gen X and millennials at the point of sale.

At Pine Labs, we have ensured that our payment solutions fit your evolving business needs and are in tune with the changing landscape of the payments industry in India. Our point of salepayment solutions will enable you to accept multiple payment modes while offering a seamless checkout experience to yourcustomers. Let Pine Labs deliver to you state-of-the-art PoS terminals that are more just a payment acceptance device. You can digitise your day-to-day store operations and simplify business processes using Pine Labs Plutus Smart, a new-age electronic payment system by Pine Labs.

Why should a business like yours start accepting electronic payments?

If you believe that a small or mid-size business like yours doesn't need electronic payments, think again! Whether or not you have a website, or you are operating out of a small store, if you haven't implemented electronic payments integration at your point-of-sale, you are missing out on:

More customers: When you accept digital wallet, UPI, debit and credit card payments at your store, you are offering a quicker and convenient checkout experience to your customers. A must in today's time when customers want to speed up their checkout experience and prefer contactless payments due to hygiene factor. The best part is you don't even need separate devices to do that. Pine Labs payment solutions are the way to go! Plutus Smart can accept more than 100+ modes of payments, including QR and Tap and Pay debit and credit cards. You can also take payments via digital wallets on Plutus Smart. Similarly, you can turn your smartphone into a payment acceptance device and accept door-to-door payment as well as card payments.

More flexibility in payments: Most young customers today don't prefer to pay in cash. With rising electronic payment acceptance, you can give them the flexibility to pay anywhere, anytime!

More upselling: When paying in cash isn't a restrain anymore, your customers are more open to choices leading to more sales and revenues for you. Pay Later, a no-cost EMI feature, is also available on Plutus Smart to empower your customers with the option of buying big-ticket items in an affordable manner.

More customer loyalty: Our all-in-one Android smart PoS device lets you capture customer feedback right from the device. When you don't have a digital or electronic payment solution in your store, you have no means to measure customer feedback and improve the experience of a dissatisfied customer. You can broaden your customer base and thus, develop your business further.

More productivity: Plutus Smart's integrated app ecosystem lets you manage your business efficiently. Be it GST compliance or inventory management or tracking receivables and payables - you don't need to run different software systemsas you can manage all of it from a single device.Say goodbye to slow billing systems, tedious catalogue creation and errors on account of manual entries.

Electronic payment systems are safe to use. Pine Labs follows all security protocols and necessary encryption to ensure that every transaction is safe and secure. As the pandemic has increased the relevance of contactless payments, Pine Labs ensures that everybody, from a small grocery store to a leading large format retail store can benefit from our tech-first in-store payment solutions.

If you have any questions, queries or need any help, please feel free to reach out to a Pine Labs business associate or email at getstarted@pinelabs.com.