How to Find the Right POS System For You

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Making decisive business decisions is what you do.

How you come to make those decisions can take different tacks, but at the beginning it is always about gathering the business intelligence you need to start making an informed decision.

Finding the right POS system for your store was an early decision you had to make. Having knowledge and experience with that business, you knew the things to look for to help your store run effectively and efficiently.

Now, as you begin the task of bringing new revenue enhancement opportunities to your current business and looking for POS systems to support that, you may not have the same background knowledge to know what to look for.

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Topics: Check Cashing

Why Do People Use Check Cashing Places?

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Imagine having a bird’s eye view of your community.

Tree lined streets filled with family households; commercial centers with high rise office buildings; shopping malls; retail strip centers; schools and other civic institutions…all part of a thriving metropolis.

Now, look closer…look at your business. See what surrounds you.

See the buildings, the people. How are you situated within your neighborhood?

There is a large amount of diversity within any community and the needs of each group are usually addressed by members of that community. Your business is probably one of those.

One of those needs is for money services. Why do people need them outside of the bank setting? There are a lot of reasons.

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Topics: Alternative Financial Services

What Are Pre-Paid Debit Cards and How Do They Work?

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Over 5 and a half billion debit cards are in use in the United States.

Debit cards accounted for over $1.4 trillion in payment transactions

9% of all U.S. households are not a part of the mainstream banking system. For various reasons, they do not have a bank account.

A 2014 survey found that 56% of consumers bought a prepaid card in the preceding year; a 9% increase in the number of cards purchased in a 2012 survey.

Powerful numbers, and ones that work to the favor of merchants who can offer reloadable pre-paid debit cards at their businesses.

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Topics: Alternative Financial Services

What Are Pre-Paid Phone products and Why People Need You to Offer it to Them

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More than 90% of Americans have a cell phone.

And, a growing number of these users are opting for pay-as-you-go plans.

In fact, 1 in 3 cell phone users opt for a pay-as-you-go plan and that number is expected to grow.

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Topics: Alternative Financial Services

How Adding Financial Services to Your Store Makes You Easy New Money

Increasing the revenues your store brings in is not as hard as it may seem. You already have key factors to fuel future success:

  • Location
  • Customers
  • Employees

You see your business is not just about the products you sell. You have a presence in your community that is important to the people living in it.

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Topics: Alternative Financial Services

How Bill Pay Works and Why People Need You to Offer it to Them

Bills, bills, bills…you may not like paying them, but there’s significant revenue in helping your customers pay theirs

Bill Pay is one of many products that are part of the DCS POS Check Cashing System. It’s one we don’t talk about as much, but it is a powerful income generator that has the added advantage of referring new customers to your business. More about that later on. First, let’s take a look at how it works and, most importantly, how it brings in revenue.

We’ve talked about the millions of people that are not connected to a bank and have no access to bank issued checks or money orders. They utilize many of the services that you can offer via our system. 

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Topics: Alternative Financial Services

Here's Why People Need Currency Exchange Services at Your Store

Currency exchange, or the transfer of one currency to another, is a big business, generating trillions of dollars worth of transactions a day.

There is hardly anyone who hasn’t had a need to exchange currency at one time or another. In particular, those who have immigrated to the U.S, and still have connections to their home country, regularly find themselves with the need to either buy or sell foreign currency.

Every community has a concentration of one or more of these immigrant groups in their neighborhood. Merchants can not only attract new business by offering these currency exchange services as a convenience to their clientele, but build loyalty from these customers as well. 

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Topics: Alternative Financial Services

Why People Need You to Exchange Their Pre-Paid Debit Cards into Cash

We’ve always promoted the profitability of offering financial based services as an effective income generator at your store.

In today’s marketplace, having an edge over your competitors is vital and bringing money services to your business opens you up for an entirely new set of customers and gives your existing customers another reason to come to you. 

This new business is so viable because of the number of people in your community that have no relationship with a bank. Nearly 8% of the population are unbanked and up to 20% of the population were underbanked in 2013, meaning that they had a bank account but also used alternative financial services outside of the banking system.

These are significant numbers and attest to the need of these services in your community. As a reminder, here are some of the alternative financial services that you can offer your neighbors:

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Topics: Alternative Financial Services

Money Service Business: 3 Tips to Increase Profitability

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There are lots of good reasons to install a money service business in your store.

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Topics: Money Service Business

5 Ways to Elevate Your Customer’s Experience with Your Money Service Business

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Your money service business offers a treasure trove of wealth to your store.

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Topics: Money Service Business

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