Why should kiosk businesses accept credit card payments?
November 06, 2013

The ability to accept credit card payments comes as an advantage to enterprises in a variety of industries. Most people expect large retail chains, supermarkets and restaurants to be able to easily process these kinds of transactions. However, kiosk businesses that operate small-scale retail counters can especially benefit from investing in credit card processing technology.

According to The New York Times, business owners who sell products and services out of small kiosks in places like airports and malls have experienced substantial revenue growth in recent years. Rather than leasing an entire store location, entrepreneurs have found these alternatives have a much lower overhead cost because they are usually secured through short-term leases that require fewer capital investments. Recent advancements in technology, such as the spread of WiFi-enabled mobile devices, has presented entrepreneurs in this industry with unique opportunities.

"Ten to 15 years ago, this was an opportunity for someone to take in a million dollars," Patricia Norins, chief executive and publisher of Specialty Retail Report, told The Times. "Now, I think you could point to 50 who are at least $10 million in annual sales and maybe five who are doing upwards of $100 million."

Houston Chronicle said opening one of these businesses is a smart idea for entrepreneurs who are interested in operating more modest services without the need to compete with giants such as Wal-Mart or Amazon.

One way to ensure the long-term profitability of a kiosk is to invest in technology that makes it easier to accept credit card payments from customers. Without a secured store location, business owners will likely have to transport large amounts of cash to and from work on a daily basis. This can be an especially risky task, as cash is often much more vulnerable to theft than electronic transaction data. Instead, electronic payment systems offer kiosk owners with a much more secure system for gathering income from daily sales.

Nexus: G-WEBCD6