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Once exclusively available to well-funded businesses, point of sale (POS) systems) have become more readily available to startups and SMEs (small and medium enterprises) due to decreasing technology costs. Today, the integrated POS solutions available to smaller businesses go beyond the typical cash register and credit card swipe machine systems. POS systems available on the Philippine market now encompass an extremely wide range of technologies to accommodate a growing number of payment types. Here are some of the different types of electronic payment machines and debit and credit card POS terminals businesses can acquire in the Philippines today:
1) Legacy or Traditional POS Terminals
Legacy or traditional POS terminals represent the pioneering range of in-store payment processing solutions. These countertop terminals include the electronic cash register (ECR), which is usually connected to a merchant's network through wired internet or phone lines, but with more recent systems being connected through Wi-Fi instead. Some of these systems also include a card terminal, often an older card swipe machine.
While these systems are reliable and still widely used today, older credit card machine models are often unable to process newer payment methods, including the EMV dip and NFC tap-to-pay cards that have become commonplace in recent years. Most are also unable to accept e-wallet payments, greatly limiting their use in a digitally transformed Philippine market. Moreover, many older systems also have steep learning curves, slowing down user training and preventing maximum utilization by store staff.
2) Modern POS Terminals
Modern POS terminals like the Maya Terminal provide numerous qualitative upgrades to traditional systems, addressing the deficiencies of older payment and credit card terminal technologies. These newer systems facilitate a full range of electronic payments, often from just a single portable device. They are also more likely to be designed with end-users in mind, with intuitive interfaces that reduce human input errors and shorten staff training times. The result of these improvements is a vastly improved overall customer experience and less costly payment processes.
The Maya Terminal is the most popular modern terminal system for Philippine startups and SMEs for several reasons. It can facilitate a complete range of locally relevant payments other than credit cards, including debit cards, QR Ph codes, and popular digital wallets like Maya, GCash, GrabPay, ShopeePay, and WeChat Pay. It even integrates with existing ECRs to give you transparent reports and more options for automating your inventory and accounting systems. Moreover, it can also print receipts to help you stay on top of BIR requirements.
3) Mobile or Ultraportable POS Terminals
Though many new terminal systems use a portable device, the hardware is often optimized for use within a brick-and-mortar location. On the other hand, mobile POS systems like the Maya Terminal Lite are designed for businesses that need to regularly take payments on the go, be it restaurants, gas stations, event management companies, or delivery services that accept cashless on delivery. Ultraportable POS devices can also facilitate a wide range of electronic payments, including popular digital wallets and QR codes. Some ultraportables like the Maya Terminal Lite even function as card machines and can process payments via EMV- and NFC-enabled cards. That being said, some features like the ability to print receipts and to accept magstripe or swipe payments may not be available on ultraportable POS systems because of their slimmer build.
As these devices are built on tried-and-tested mobile phone technologies, they are robust and well-suited for a wide range of dynamic businesses, including gas stations, quick service restaurants, retail services, events and concert organizers, and delivery service providers. They can be used to facilitate “cashless on delivery” services that have become increasingly popular in the Philippine e-commerce market.
4) Self-Service POS Terminals
Self-service POS terminals provide a convenient way for customers to complete their purchases without assistance from staff. These systems are not new, as vending machines have been around for several decades. However, current-generation self-service POS systems can provide customers with a higher level of convenience by offering multiple payment types and duplicating the user experience afforded by other devices with screens, like ATM machines, mobile phones, and tablets. These systems experienced a surge in popularity during the pandemic, but they are still, today, not nearly as widespread in the Philippines as the other POS system types mentioned.
5) Online POS Systems
Unlike the other terminal types mentioned so far, online POS solutions do not require any special hardware to use, making them popular with today’s emerging e-commerce businesses. Since they don’t require any onsite server infrastructure, they’re well-suited to the needs of online startups and SMEs that need scalable yet flexible payment processing capabilities.
Maya offers a selection of simple-to-integrate online payment products to empower Philippine-based online businesses of all sizes. Whether you own an e-commerce website or run your business over social media and messaging apps, there is a Maya Business solution that meets your online payment needs.
Evolve Your Payments with the Maya Terminal and Terminal Lite
Older POS and card payment machine systems are no longer able to keep up with the Philippines’ diverse payments environment. Upgrading to a newer POS system that is portable and accepts all payment types is key not only for enjoying better efficiency but also for offering an elevated customer experience. Create your Maya Business Manager account today to start accepting all payments with a Maya Terminal or Maya Terminal Lite device.
After creating your Maya Business Manager account, join the Maya 1-2-3 Grow promo. 1-2-3 Grow gives you a 1% MDR (merchant discount rate) on all your QR Ph sales. Simply set up a Maya Business Deposit account as your payment settlement account to also earn a 2.5% p.a. interest on your settlements. Signing up for Maya 1-2-3 Grow also immediately qualifies you for a no-collateral Maya Flexi Loan offer as big as PHP 2 million within just 3 months. Create your Maya Business Manager account today for the best payment products and more exclusive promos.
