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What is EFT? Why does your store need it?

The practicality and security by not carrying cash, the possibility of payment in installments and the benefits offered by the operators, such as travel miles and promotions, are some advantages that payments by cards offers to the customer. See this article on the advantages of accepting this payment method in your store.

With this in mind, it is important that every business is prepared to receive cards. If your store does not receive, at some point you will lose sales. By opting for this process it is important that you implement an EFT, which will help throughout your card receipt operation.

But what is EFT anyway?
The Electronic Funds Transfer (EFT) is a system to integrate card sales and its process of commercial automation of the POS. It is also responsible for the communication between the establishment and the card company.
Basically, EFT is the system that enables you to have a card machine integrated with your POS sales program.
This means that the credit card amount is inserted by the POS software - there is no cashier's typing.

Why does my store need an EFT?
Using a system that integrates point-of-sale software and receipt of cards brings to your store several benefits. The main advantage is the exclusion of errors when typing the amount to be paid by card. Other benefits of EFT:

Reduce queues in cashier
Passing through the EFT, the purchase process will be carried out in a shorter period of time compared to the POS. The system will expedite the receipt, because when you pass a purchase on your POS system, it will automatically send the value to the machine to be charged to the card.

Fraud prevention
With an EFT system it is possible to prevent fraud in the process of receiving cards. These frauds may occur by employees while performing transactions other than those recorded by the sales system or even using another POS machine to receive sales.

Negotiation of better rates
The POS is provided by operators. Therefore, you must pass the card only at the contracted operators (example: Rede, Cielo, Stone, etc.). With the EFT you can choose the operator you want to use according to the flag. This will give you more strength to negotiate rates, because your store is not stuck with an operator, as if you were using the POS.

Control of sales by card
The TEF provides more useful information for your store, as it provides managerial reports, in which you can control receipts, by cashier, card operator and etc.    

Source: Infovarejo (https://www.infovarejo.com.br/o-que-e-tef/)

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