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Education

Bells and whistles A great example of change is how more and more
merchants are now open to alternatives to basic credit card
aside, essential POS terminals. Many even insist that their terminals be able
to perform multiple functions. An entire demographic
would rather use tablets for every function, including
purpose endures payment acceptance. They have little to no fear of cloud-
based solutions, as they were raised during a time
when touchscreen, cloud-based devices were becoming
commonplace.

Yet change can be scary. It can take time to accept and
adapt to change. It can also seem overwhelming. As a
result, many refuse to make even the slightest change.

You can say the shift to mobile POS solutions is similar
to the evolution of the watch. Even with all the new
functionality, its basic function remains the same. It tells
you the time. The ability to perform other functions makes
a watch more valuable, but the simple fact is that you
wear a watch to tell the time – even if it also allows you to
answer the phone and read your texts.

New tools, same basic function
Today's POS systems can perform multiple functions, as
Jeff Fortney well. Many offer multiple stations, kitchen printers, pay
Clearent LLC at the table, table management, staff time management,
inventory management, data analysis, gift card
started wearing a watch when I was 10 years old. management, and more. The majority of these solutions
I'd been late one too many times, so my parents are cloud based, which has brought the cost down
gave me the watch to help me be home on time. My considerably in comparison to larger, more advanced POS
I first watch was a hand-me-down from my father. systems.
Like most watches of its time (in the early 1960s), it had to
be wound daily, and it kept reasonable time. I wore that Yet the key function remains the same: accepting and
watch until my 16th birthday, when I was given a pocket processing transactions so the merchant can get paid for
watch. That watch was my primary timepiece until the the sale. Sure, all the bells and whistles may help with the
mid 1970s, when I moved into the digital age with a watch sale, but the need for payment acceptance is even greater
that kept exact time, including date and seconds, with the today than it was 10 years ago, especially since many
click of a button. consumers rarely carry cash today. This simple statement
makes our industry important, and it can open up many
My watch usage evolved further to one that was solar- new opportunities for you to grow your business.
powered. Today, though, I wear a smart watch. I can read
emails and texts through my watch – and respond to them Just remember, there's no reason to be overwhelmed by
with ease. I can even answer the phone. Dick Tracy would change. In reality, the only things that change are the tools
be envious. used to accomplish the same basic function. When you
focus on the added convenience these tools provide, you'll
While watches have become highly advanced, their key be able to address more of the merchant's needs in one
function – telling time – has never changed. They may be solution. This is what creates that stickiness we all desire.
faster, more accurate and connected to other devices, but
they still tell time – only better. Still, let's not forget that no matter the functionality or
offering, the basic need is still payment acceptance. As
Continual evolution you embrace new payment solutions, you're just adding to
The payments industry is not nearly as old as the timepiece your toolbox and your skill set. And that's always a good
industry, but it, too, has faced its share of evolution. I have thing.
talked about it consistently over the past several months, Jeff Fortney is Vice President, ISO Channel Management with Clearent
as we are now in a period during which evolutionary LLC. He has more than 17 years' experience in the payments indus-
pressures have increased dramatically. The changes try. Contact him at jeff@clearent.com or 972-618-7340. To learn
occurring in the payments industry are important to both about how Clearent can help you grow faster and go further, visit
your success and your finances. www.clearent.com.

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