The evolution of payment methods: why the POS terminal has become a key tool for businesses
The way we pay has changed radically over the past decade, with this trend picking up pace in recent years. Cash is no longer king, as cards, mobile payments and instant payments are increasingly leading the way in consumer behaviour. In this new context, the
Less cash and more electronic payments: how payment-taking is changing
Cash payments are steadily decreasing in Spain, driven by both consumer habits and current regulations. Legal restrictions on cash payments, traceability obligations and anti-fraud measures have consolidated an environment where electronic payment and collection solutions are the norm, not the exception.For businesses, failing to adapt to this context can result in less efficient collection processes, more obstacles affecting the customer experience, not to mention increased administrative effort.
For businesses, this change calls for reliable, secure payment systems that comply with current law. In this context, having a POS terminal that keeps an automatic and organised record of transactions not only streamlines the day-to-day running of the business; it also streamlines administrative and tax management.
Mobile and card payments are driving the use of contactless POS terminals
The bank card is still the go-to payment method in physical stores, but the biggest growth is in mobile payments. Digital wallets, smartwatches and other devices have led to ever-more widespread use of contactless technology, which stands out for being quick and convenient.Today, customers expect to be able to pay without having to insert their card or enter their PIN for low-value transactions. Therefore, having a POS terminal for in-person sales that accepts contactless payments, such as the
Bizum and instant payments: new collection expectations for businesses
Speed and simplicity have become decisive factors when it comes to making a payment. Solutions such as Bizum, once mainly associated with person-to-person payments, have gradually branched out into the commercial sphere, in physical shops and online alike.This development has led to a rise in customers' expectations: the ability to pay instantly, effortlessly, and seamlessly. Banco Sabadell has a
For the self-employed and businesses, having POS terminals that support multiple payment methods makes it easier to adapt to customer preferences and avoid missing out on sales by failing to offer the payment collection option a customer expects at any given moment.
E-commerce accelerates the need for omnichannel payment collection solutions
The line between physical and digital commerce is becoming increasingly blurred. Many self-employed professionals and small businesses sell from their establishment, via their website, and even through social media channels. This situation makes integrated payment collection solutions a must.What a POS terminal needs to adapt to how the modern customer pays
In this situation, many businesses are wondering what a POS terminal should offer beyond basic payment processing. To keep up with evolving payment methods, it’s important that it include:- Compatibility with cards, mobile payments, Bizum and other digital payments.
- Ease of use and fast payment collection processing.
- The highest security standards and regulatory compliance.
- Integration with billing and accounting tools.
- Stable connectivity and upgradability.
As not every business has the same needs, having tools to help select the right solution is particularly useful. A
In short, for the self-employed and businesses, keeping up with new payment habits is no longer merely an operational concern; it’s a strategy to boost competitiveness. Having a POS terminal that supports multiple payment methods and sales channels enhances the customer experience, streamlines management while driving business growth in an increasingly digital landscape.
1. All POS terminals are products of PAYCOMET S.L.U. and are sold and marketed by Banco de Sabadell, S.A. Paycomet is a Payment Entity, part of the Banco Sabadell Group, with registered office in Torrelodones (Madrid) at Calle Camino de Valladolid 2, local, registered in the Madrid Mercantile Register, Volume 40,715, Folio 165, Page M-722,484, holder of Tax ID No. B95842522. Paycomet retains the funds received from users via a deposit in a separate account opened with Banco de Sabadell, S.A. Banco de Sabadell, S.A. will access the data related to the type of POS terminal, its status and billing in its capacity as seller and marketer of Paycomet, S.L.U.
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