In airports, global border zones, and tourist places, it is pretty typical for retail businesses to receive requests from shoppers for being able to pay in a foreign currency. Here, we are getting deeper into multi currency POS and what shops accept payments in multiple currencies. We will also let you know what to prepare before you carry out the multi currency payment approach for your retail business.
What is multi currency POS?
Multi currency POS allows point of sale users to receive payments in many currencies in point of sale shops. It enables the point of sale user to configure multiple currencies to their shop. Consumers have the choice to pick the currency of a country from the selection list at the point of sale. Before shoppers leave the shop, the cashier can print the purchase receipt that contains clear information and hand it over to the shoppers.
Also, when finishing the session, it is necessary for your salesperson to trace information and reconcile finance. That is why the point of sale system should keep the amount as well as currency in the purchase order details and report in the backend of the admin.
In case you are finding a POS system to improve your shoppers’ experience with paying options in multiple currencies, use the multi currency POS from ConnectPOS. ConnectPOS enables multi-currency, allowing for flexible payment methods. It also assists in layaway, split tenders, refunds and exchanges, and so on.
Which shops should use multi currency POS?
Shops in airport
At any airport, you can discover some retail outlets and things like that offer commodities. For instance, souvenir stores normally provide various photos, bags, and so on made from a series of materials and styles. Here, tourists do not tend to change money yet. Still, they have a need to purchase products. In such situations, they may wish to make payments with a foreign currency in the physical shop.
Physical stores in tourist places and borders
Residents in borders have the choice to visit neighboring nations. That is why compared to stores in other areas, the need for multi currency POS installed here is higher. The same goes for tourist areas. For instance, in the United Kingdom, popular department stores tend to draw in many tourists. Shops will take US dollars, euros, and other different foreign currencies. In case you visit shops located in Harrods in the United Kingdom, you can pay in various currencies by not only credit cards but also cash.
What to know before implementing multi currency POS
First, make sure to check with the authorities in your area whether it would be possible for you to process sales in multiple currencies. Doing so will ensure your company complies with the law. Second, you should know the procedure of in-store multiple-currency payments.
In conclusion, we hope the above article helps you know more about multi currency POS. In case you are finding a POS system to improve your shoppers’ experience with multiple-currency payments in-store, feel free to call us.