Point of Sale (POS) Glossary
A smart card in retail refers to a chip that provides encryption and security integrated into a credit or debit card. Smart cards are also used for identification and refer to any card containing an embedded integrated circuit.
A credit or debit card equipped with a chip may be inserted into a point of sale system reader. If it is equipped with near field communication (NFC) it may also be held near or tapped on a POS device.
The additional security that smart cards provide adds significant protection to credit card processing since it makes credit cards much more difficult to counterfeit. However, smart cards are still vulnerable to being stolen, used online, on the phone, or processed via magnetic swipe (if the retailer permits that option).
Customers love promotions! Buyers are often pulled in by one deal and wind up buying regularly priced merchandise in addition to, or sometimes instead of your discounted items.
An eCommerce website is open 24/7 and accessible from all over the world. Being online and having physical store opens your business to a global market.