Westpac and Kounta are helping make in-store payments a faster and more seamless experience for hospitality businesses and retailers, with their partnership to connect Westpac’s Presto Smart to Kounta’s point of sale (POS) system, delivering a more efficient payment solution.
Using cloud-based technology, Kounta connects to the Presto Smart payment terminal – an Australian banking first, enabling automated end-of-day reconciliation, faster in-store transactions, and removing room for keying errors as customer orders sync directly from the Kounta POS to Presto Smart, freeing up more time for business owners to focus on running their business.
With research revealing a decrease in cash payments by almost nine per cent over the last twelve months as 69 per cent of Australians now use card or pre-order apps to make a purchase, the integration meets the rising consumer demand for a quick and convenient over-the-counter experience.
Using Presto Smart, merchants can receive daily business takings on demand as Westpac Instant Settlement gives merchants with a Westpac branded settlement account immediate access to takings, provided they settle their EFTPOS machine on the same day.
Jim Tate, Chief Product Officer Business Bank at Westpac, said as Australia moves towards a cash-free society, hospitality and retail businesses must ensure they build infrastructures that can scale and support the future of payments.
“It is important for businesses to consider investing in payment technology from the outset to improve operations, allow instant access to funds, drive productivity and remain competitive,” Tate said. “As the digital payment space continues to evolve and the need for physical forms of payment is reduced, our goal is to ensure we support businesses with the right payment solutions to meet customer expectations.”
Westpac is continuously introducing new product capabilities to Presto Smart to ensure businesses have access to the most advanced technology solutions for an unrivalled customer experience.
“At present, Presto Smart offers real-time, in-depth terminal health monitoring, meaning if a merchant’s Presto terminal encounters an issue, it can be solved remotely by a member of the support team in most cases. In August, we will launch proactive terminal health monitoring to remotely identify issues, a first in merchant services. Gone will be the days when a business can’t take a payment due to a battery glitch or poor connectivity,” Tate said.
Nick Cloete, founder of Kounta,said, “Kounta’s collaboration with Presto Smart unlocks instant benefits for retailers, with little to no effort. Our cloud technology has enabled us to provide integrations to further boost efficiencies; including automated reconciliation, the elimination of keying errors and greater stability. On average our customers with integrated payments and accounting save four hours per week on reconciling cash, completing banking and data entry – that’s an extra 108 hours a year to focus on what really matters to these guys.”
Less time spent keying in payment totals also speeds up sales at the counter and reduces waiting time for customers, removing frustrations during peak operating times. Research shows businesses using integrated systems such as Presto Smart and Kounta save a total of one minute and 52 seconds for every customer they serve.
Hospitality and retail businesses are provided with a flexible service as Presto Smart operates using Wi-Fi as opposed to fixed wires, so payments can be made whether at a counter, at a restaurant table, or on the sales floor. Merchants also benefit from Presto Smart’s reliable capability of automatic 3G fall back on selected terminals. This means if a Wi-Fi connection was to drop out, Presto Smart will help businesses to stay online so they never have to miss a sale processed by card.