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Why you should integrate your EFTPOS and Point of Sale system

15 February 2022 | 6 min read
As a business owner, you need your operation to be as efficient as possible. If you’re currently using payment technologies that don’t communicate with each other, there may be an opportunity for you to improve efficiency in your business.

There’s an easy way to speed up transactions, skip time-consuming reconciliations, and reduce the potential for errors.

You can streamline payments by integrating your EFTPOS machine with a Point of Sale (POS) system that meets the specific needs of your business. Integration can simplify your operations, save you time and reduce errors. Plus, your customers will have quick and flexible ways to pay you.

What is POS integration?

Your POS system is the device generally placed where your customers pay for your product or service. Think of the system where café staff would capture your coffee order, or where retailers or grocers would scan the products you want to buy. Key components of a POS include the register and software that you use to manage your operations. For healthcare providers, it’s known as a Practice Management System.

An integrated POS system is when you connect your computer or your POS system with an EFTPOS machine. This helps to streamline payments and business processes. Payment data can move seamlessly from your POS system to your EFTPOS machine and back. It not only reduces the administrative and manual tasks around payments, but it may give your customers a better experience.

Reasons to integrate your POS system

When you integrate your POS software and EFTPOS facilities, you can process debit or credit payments quickly and easily. This reduces costly mistakes and saves your business time.

Fast service for a great customer experience

Integration can speed up the time it takes to process a sale. When your systems talk to each other, you can avoid time-consuming steps like manually entering data and duplicating tasks.

By integrating your systems, you can reduce the number of steps required to finalise a payment. What you enter into your register or issue on an invoice is the amount that automatically appears on your EFTPOS machine, ready for payment. Your customers enjoy a faster and more streamlined payment experience, and you have more time to service more customers.

Reduced errors

Another benefit of POS integration is avoiding costly keying errors due to manual entry. It removes the risk of having to issue refunds or lose hard-earned dollars when the amount keyed into the EFTPOS machine is incorrect. Imagine mis-entering a refund on your EFTPOS machine for $2000 when the original sale price was only $200.

Business efficiency and insights

Integration has the added advantage of reducing the need for multiple bank reconciliations. With integration, the sale amount on the POS should match the sale amount on the EFTPOS machine, making end of day reconciliation a breeze.

For many businesses, having access to correct and up-to-the-minute information is vital when making business decisions. The data from an integrated POS allows you to understand purchasing trends across your day. This may help you make decisions about inventory, staffing and even opening hours. And real-time data allows you to track your business on the go or plan strategically for the future.

Benefits built for your business

Integrated POS can also open the door to a range of extra EFTPOS features tailored to fit the needs of specific industries.

In hospitality, the POS software allows your staff to place orders and manage tables. An integrated EFTPOS machine will pull the sale amount automatically from your POS when it’s time for customers to pay. Your customers can run cardless bar tabs, pay at the comfort of their table using a mobile EFTPOS machine, split the bill, or tip your staff for great service. It means fewer interruptions and no need for awkward conversations on who owes what.
Some integrated Practice Management Systems in medical practices allow you to manage all costs associated with the appointment. You can give your clients Medicare and Private Health rebate calculations when they pay. That means clients don’t need to pay for the entire service and then manually make a claim using their receipt. Instead, it can be automatically factored in and processed at the counter.

These features are available to Bendigo Bank EFTPOS powered by Tyro customers when integrated with one of 300+ Point of Sale software or Practice Management System providers.

Lived experience

Abbotsford Cycles has been looking after both commuters and endurance cyclists in Melbourne for over 30 years. They service and repair bikes and sell bespoke cycling accessories.

Owner Keir Willox switched to Bendigo Bank EFTPOS powered by Tyro last year. Around the same time, he recognised that his business had evolved, and he upgraded to a new POS system that suited his needs better.

Keir says the transition was easy. “Getting the big box full of terminals and instructions was a little daunting! But we rang Tyro to help navigate the hook up to the new POS system, and the bank helped with the initial set-up. It’s been flawless.”

Keir says that it’s made it more straightforward to take payments. Before he switched, customers couldn’t make contactless payments or use their phone to pay with all card types, so he missed the sale. Now he can accept all cards and most payment methods.

For Keir setting up and using the integrated POS has been a great experience. “Dealing with Bendigo Bank and Tyro has been really, really easy.”

Bendigo Bank powered by Tyro

Bendigo Bank has partnered with Tyro, Australia’s fifth-largest merchant acquirer^, to deliver you and your customers simple and flexible payment solutions.

All Bendigo Bank customers with merchant terminals will transition to Bendigo Bank EFTPOS powered by Tyro over the coming months.

If you would like to find out more about switching to Bendigo Bank EFTPOS powered by Tyro, contact us on 1300 108 976 or explore EFTPOS.

Bendigo Bank EFTPOS and eCommerce powered by Tyro is issued by Tyro Payments Limited ACN 103 575 042 AFSL 471951.

^ As per the statistics detailed in Authorised Deposit-taking Institutions Points of Presence June 2020 issued by APRA in October 2020. Excludes EFTPOS providers who are not ADIs.

Any advice provided in this article is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable product disclosure statement(s) on our website before acquiring any product. 

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Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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