Still Running Old Technology? Here’s Why You Should Upgrade

At Merchant Broker, we are always following the latest research. We keep our eyes out for best practices, so we can provide you with information ensuring your payment processing system is both efficient and profitable. Many of the companies we talk with seem to operate as if they were still the early 2000s. As a result, they are using old, outdated technology, which is costing them more money.

Upgrade Your Payment Processing System Now

According to an article published in Payments Business Magazine, 42% of small businesses still rely on outdated cash registers to accept customer payments. Unfortunately, very few Canadian small businesses are adopting modern, tablet-based, point-of-sale (POS) solutions. In fact, only less than 1% are using these new POS solutions! This is hard to believe, because while almost half of small businesses are sticking with their old cash registers, most customers in today’s marketplace want to pay for goods and services using smartphones, mobile and self-serve technologies.

Here’s Why You Should Upgrade

Businesses that continue using old, outdated cash registers waste more time. This includes longer lines during check-out, unnecessarily complicated accounting processes, and a higher rate of employee errors. All of this costs you time and money. Instead, we suggest embracing cloud-based solutions; they offer comprehensive safety and security features, up-to-the minute reporting and data analysis, seamless inventory management, and the ability to help you make smarter business decisions.

So Why Aren’t More Businesses Upgrading?

There are various reasons why the new technology is taking time to catch on.

These include:
• The cost of upgrading payment systems
• A simple refusal to change familiar technologies
• Uncertainty about how to best install and make use of the new technology

At Merchant Broker, we help our clients run efficient and highly profitable payment processing systems. We ensure that you have the most up-to-date information and context to help you make the right decisions for your business.

Contact us when you start making plans to update your technology! We can save you time and money.


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Merchant Broker
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©2020 Merchant Broker Inc. All rights reserved. Merchant Broker Inc. is a Registered MSP/ISO of the Canadian branch of U.S. Bank National Association and Elavon Merchant Broker Inc. is an Elavon Payments Partner & Registered MSP/ISO of Elavon, Inc. Georgia [a wholly owned subsidiary of U.S. Bancorp, Minneapolis, MN] Merchant Broker is a registered referral partner of Bambora. Registered Preferred Partner of Ingenico e-Payments International. Referral Partner of Global Payments.

Merchant Broker Inc. is a First Data Canada Ltd (fiserv) Partner and Registered MSP/ISO of Wells Fargo Bank, Canadian Branch, Toronto, ON, Canada. New applicants are subject to conditions and Approval of the application by Merchant Broker Inc. and its partnering banks.