February 8, 2023
Foolproof Reading of a Businesses Credit Card Statement
A credit card statements can be a confusing and intimidating document for many business owners. A majority of credit card processing companies rely on an owner to be overwhelmed and not read through the fine print where you’ll find hidden processing fees, held transactions, and more. However, it’s essential to understand them to stay on top of your finances and avoid costly mistakes. New Mexico POS is dedicated to being transparent about the statements we provide through CoCard and would like to share how to accurately read through your own:
- Know Your Statement and Batch
The first step in reading your business credit card statement is to know your statement date and when funding from a batch will appear. The statement date mark the start and end of a processing cycle, and all transactions made during this period will appear on the statement. A statement can be generated per batch through your online portal, a login to the processing company’s website to view all credit card authorizations.
- Review Your Transactions
The next step is to review your transactions. Your statement will list all of your businesses transactions and any fees charged to your account. It’s crucial to check each transaction charged to ensure that it’s accurate and authorized as well as keeping track that your Point of Sale batches match the total transaction amount. If it does not match, going through the POS batch and your Transactions will point you to the authorization that did not make it to your processor.
- Check for Any Unusual Charges
While reviewing your transactions, keep an eye out for any unusual charges, such as unauthorized purchases, duplicate charges, or erroneous amounts. If you notice any, contact your credit card issuer or your point of sale provider immediately to report the issue.
- Review Your Fees
Your statement will include your rates for processing credit cards, also known as your effective rate. To find your effective rate, you’ll take the total amount deducted for processing and divide it by the amount of your total monthly sales paid by credit cards. There are three fees that make up an Effective Rate, being , Interchange, Markup, and Assessment.
5. Lowering Your Effective Rate
Lowering your effective rate is easy to negotiate once you have the information to negotiate with your processing company aside from Interchange. Another option many owners are utilizing in their business is Cash Discounting or having a customer pay Credit Card Fees, different terms but same meaning. Merchants pass on the Effective Rate fees to customers (typically 3%) and take off this fee when cash is the payment.
Reading your business credit card statement accurately is essential for managing your finances and avoiding costly mistakes. By following these steps, you’ll be able to understand and interpret your statement with ease. New Mexico POS is dedicated to providing the BEST rates with total transparency of processing rates and fees for your business. Contact us (505) 293-7551 and find out how much you could be saving monthly and yearly with our partnership with CoCard Services.
January 24, 2023
The Importance and Need of Accepting Cash
In today’s high-tech digital age, it’s easy to assume cash is no longer a relevant form of payment. However, this couldn’t be further from the truth. In fact, there are many benefits to accepting cash payments within your business alongside credit cards within your Point of Sale system.
- Increased sales: Some customers may prefer to pay with cash because it’s what they have on hand or because they prefer to limit their credit card usage. By offering the option to pay with cash, you’ll be able to appeal to a wider range of customers and potentially increase your sales.
- Increased security: While credit card transactions have security measures in place to protect against fraud, there is still a risk of data breaches. Accepting cash eliminates this risk and can provide an added layer of security for both your business and your customers.
- Improved customer satisfaction: Offering a variety of payment options can improve customer satisfaction by giving them the flexibility to choose their preferred method of payment. This can lead to repeat business and positive word-of-mouth recommendations.
- Lower fees: Credit card processing fees can add up over time, particularly for small businesses. Accepting cash can help reduce these fees and increase your profit margin.
- Increased accessibility: Not everyone has access to a credit card or bank account, making it difficult for them to make purchases. By accepting cash, you’ll be able to serve a wider range of customers and potentially increase your customer base.
In conclusion, accepting cash payments within your business alongside credit cards can provide a range of benefits. Benefits including increased sales, increased security, improved customer satisfaction, lower fees, and increased accessibility. New Mexico POS offers top of the line Point of Sale systems that can handle any type of payment your business requires. Don’t underestimate the power of cash – it’s still a relevant and important form of payment in today’s world.
January 20, 2023
The Evolution of Point of Sale Systems
A point of sale (POS) system is a vital component of any retail or hospitality business. It serves as the central hub for managing transactions, tracking inventory, and gathering customer data. Over the years, POS systems have undergone significant evolution, evolving from simple cash registers to complex, all-in-one terminals. Since New Mexico POS’ starting year, 1991, we’ve been apart of said evolution at the forefront, providing New Mexico and surrounding areas the necessary tools for businesses to elevate customer and staff experience.
Early POS systems were nothing more than mechanical cash registers, which were invented in the late 19th century. These early registers were used to record the price of each item purchased, as well as the total cost of the transaction to be consolidated at the end of a cashier’s shift. As the use of credit and debit cards became more widespread, electronic cash registers were developed that could process card transactions and handle higher business demands at the same time.
With the rise of computers, POS systems began to incorporate more advanced features. Some systems allowed retailers to track inventory, process returns and exchanges, and generate reports. Others offered customer relationship management (CRM) tools, such as loyalty programs and email marketing.
Today’s POS systems, such as Focus POS and GoTab, are highly sophisticated and can do much more than just process transactions. New Mexico POS offers all-in-one POS terminals offer a range of features, including:
- Inventory management: POS systems can track inventory levels, alerting retailers when it’s time to restock.
- Online Ordering: A seamless integration to a store’s POS system, where customers can input orders and pay their check online.
- Customer management: POS systems can store customer data, including contact information and purchase history, making it easier to build relationships and target marketing efforts.
- Marketing and loyalty programs: POS systems can help retailers create and manage loyalty programs, as well as send targeted marketing messages to customers based on their purchase history.
- Employee management: POS systems can track employee hours and sales, as well as manage schedules and payroll.
- Analytics and reporting: POS systems can generate a variety of reports, including sales data, inventory levels, and customer demographics, helping retailers make informed business decisions.
As technology continues to advance, it’s likely that POS systems will become even more sophisticated and feature-rich. Some experts predict that in the future, POS systems will be fully integrated with artificial intelligence, allowing retailers to gain even deeper insights into their operations and customers. Others suggesting Point of Sale will be operating without staff or minimum staff, having customers input their orders via phone/kiosk systems.
The evolution of POS systems has greatly benefited retailers and hospitality businesses, providing them with the tools they need to run their operations more efficiently and effectively. As the technology continues to evolve, it will be interesting to see how POS systems continue to shape the retail and hospitality industries. For the latest technology available today, contact New Mexico POS for the easiest and most profitable solutions.
New Mexico POS Contact Information
Office: (505) 293-7511
Sign up for Emails and we’ll contact you!
December 28, 2022
Importance of a POS in your business
A comprehensive point of sale (POS) system can be a valuable tool for improving efficiency in a restaurant. By automating many of the tasks involved in managing a restaurant, a POS system can help streamline operations and improve customer service.
One of the key benefits of a POS system is that it can help reduce the time and effort involved in managing orders and payments. Instead of taking orders and handling payment manually, a POS system allows restaurant staff to enter orders directly into the system and process payments quickly and securely. This can help speed up the ordering process and reduce the risk of errors, which can save time and improve customer satisfaction.
In addition to managing orders and payments, a comprehensive POS system can also help with inventory management. By tracking sales and inventory levels in real-time, a POS system can help a restaurant owner or manager ensure that they have the right products on hand to meet customer demand. This can help reduce waste and avoid the cost and inconvenience of running out of popular items.
Another benefit of a POS system is that it can provide valuable insights into a restaurant’s operations. Many POS systems come with detailed reporting and analytics features that can help restaurant owners and managers track sales, understand customer behavior, and identify opportunities for improvement. This information can be invaluable for making data-driven decisions and optimizing operations.
Overall, implementing a comprehensive POS system can help a restaurant improve efficiency and streamline operations. By automating key tasks, providing valuable insights, and improving customer service, a POS system can help a restaurant grow and succeed.
New Mexico POS is dedicated to providing your business with the tools needed to succeed in today’s demanding customer service environment. Call us today at (505)-293-7551 or view our products and take a look around!
December 19, 2022
An All-In-One Terminal vs Desktop Computers
As a business owner, it’s important to choose the right tools to help you run your business effectively and efficiently. One key decision you’ll need to make is how you’ll process sales transactions on your Points of Sale (POS).
Using a desktop home computer may seem like an easy and cost-effective solution, but it’s important to consider the potential risks and drawbacks. Here are a few reasons why an all-in-one POS terminal may be a better choice for your business:
- Security: An all-in-one POS terminal is specifically designed for secure transactions. It includes features like encrypted card readers and secure payment processing to protect your customers’ personal and financial information. On the other hand, a home computer may not have the same level of security measures in place, making it more vulnerable to data breaches and hacking.
- Reliability: An all-in-one POS terminal is built to handle the demands of a busy retail or restaurant environment. It’s designed to be used all day, every day, and can withstand the wear and tear of constant use. A home computer, on the other hand, may not be as reliable and could potentially crash or malfunction during a busy sales period.
- Professionalism: An all-in-one POS terminal gives your business a more professional appearance. Customers will have confidence in your business knowing that you’re using a dedicated, secure device to process their transactions. Using a home computer may not convey the same level of professionalism and could potentially lead to customer concerns about the security of their information.
- Functionality: An all-in-one POS terminal is designed to handle a wide range of tasks, including accepting payments, processing returns, tracking inventory, and generating reports. It’s a one-stop solution for all of your sales needs. A home computer may not have the same level of functionality and may require additional software or hardware to perform these tasks.
In conclusion, an all-in-one POS terminal is a more secure, reliable, professional, and functional choice for processing sales transactions. While a home computer may seem like a convenient solution, it’s important to consider the potential risks and drawbacks. Investing in a dedicated POS terminal will not only help you run your business more efficiently, but it will also give your customers confidence in the security and professionalism of your business.
Come see what we have to offer from GoTab!
December 7, 2022
Accepting Credit Cards in your business
The security risks of accepting credit cards in your business can be significant. As a business owner, it’s important to understand these risks and take steps to mitigate them in order to protect your business and your customers.
One of the biggest risks of accepting credit cards is the potential for credit card fraud. This can happen when someone uses a stolen or fake credit card to make a purchase from your business. In some cases, the fraudster may even have access to the cardholder’s personal information, such as their name, address, and Social Security number. This can allow them to make unauthorized charges to the cardholder’s account, potentially leaving your business on the hook for the charges.
Another risk of accepting credit cards is the potential for data breaches. With the increasing use of technology in the retail industry, it’s important for businesses to have secure systems in place to protect their customers’ sensitive information. However, even the most secure systems can be vulnerable to hackers, who may be able to access and steal credit card numbers, names, addresses, and other personal information. This can lead to serious financial losses for both your business and your customers.
In addition to these risks, accepting credit cards can also expose your business to potential legal and regulatory liabilities. For example, if your business experiences a data breach, you may be required to notify your customers and provide them with information about how to protect themselves from potential fraud. You may also be subject to fines and other penalties from regulatory bodies.
To protect your business from these risks, it’s important to take a number of steps. First, you should make sure that your systems and processes for accepting credit cards are secure. This may include implementing security measures such as encryption and secure sockets layer (SSL) technology to protect your customers’ sensitive information. You should also regularly monitor your systems for signs of suspicious activity, and have protocols in place for dealing with potential fraud or data breaches.
Another important step is to educate your employees about the risks of accepting credit cards and how to protect against them. This can include providing training on how to spot and prevent credit card fraud, as well as how to handle data breaches and other security incidents.
Finally, it’s important to stay up-to-date on the latest developments in credit card security and stay compliant with any relevant laws and regulations. This can help you avoid potential legal and regulatory liabilities and protect your business from the risks of accepting credit cards.
In conclusion, accepting credit cards can bring many benefits to your business, but it’s important to be aware of the potential security risks and take steps to protect yourself and your customers. By implementing secure systems, educating your employees, and staying up-to-date on the latest developments in credit card security, you can help ensure the safety of your business and your customers.
New Mexico POS is dedicated to making sure your business is secure and ready for any issue that may arise with credit card processing as well as saving you money with offering exceptional rates.
Contact New Mexico POS to see how we can improve your business and save you money!
January 6, 2022
Credit Card Processor Down?! Again!? Point of Sale Tips!
In 2021, a lot has changed in the restaurant industry due to pandemic guidelines, customer and employee safety, and government mandates. Restaurateurs have overcome all of the recent obstacles thrown at them bruised, but not beaten and not finished serving devoted customers of their establishments. Through the struggle of staying in business during modern times and the unrelenting perseverance of the people who give it life, it seems there is only one thing that could bring a restaurant to a grinding halt – point of sale system notifying Credit Card Processing DOWN.
Though this can happen several different ways, it always ends in the same result. Customers wanting to pay and cashiers or servers not being able to charge and close the check. Panic ensues, justifiably, and there’s only finite solutions to the problem.
Check your internet connection
The most common problem starts at your internet and ends at your credit card processing device. Whether it be an integrated point of sale solution or a stand alone credit card terminal, they all need internet to process credit cards. There are several different ways to check for internet but the easiest is to try going to a website like Google! It will notify you that there is a problem by saying no internet connection or DNS not resolved. Another way to see the status of your internet connection is by looking on the Modem. Make sure it’s powered on and there is a solid green light on the internet icon. New Mexico POS recommends to check all cables are plugged in securely and if so, give the modem a reboot.
Check the status of your processor
Some credit card processors have downtime and you’re at their mercy. Going to the processors website should have a link or notification about their services being down. If so, there is sadly not much you can do until their services are back online. If your Point of Sale software allows an offline mode, like Focus POS, switch to the mode and continue taking credit cards until the processor service is up and running. Another option would to have credit card slips readily available for the inevitable. Though considered obsolete, this method could keep your establishment running smoothly until service is restored.
Check all cables
Cables come loose, mysteriously and unknowingly at any given time. It’s a good idea to make sure all connections are secured into their designated slot. If the pin pad device is disconnected from the point of sale terminal, you’ll start receiving errors. Same if the computer won’t turn on, it could very well be the power cable is disconnected.
Call your Point of Sale Help Desk
When all else fails during moments of chaos, the last option is to call your point of sale provider’s help desk. They can quickly troubleshoot the issue, sometimes even resolving it through remote support. New Mexico POS provides around the clock support for all customers.
Though it can be troublesome and a complete mess at times, customers using cards isn’t going anywhere anytime soon. The best advice is to have backups in place and a redundancy plan when it fails so your business is affected very little. New Mexico POS prides itself in training customers to take the necessary steps to activate their offline mode and give support in case anything arises. Match that with the best credit card rates you could possibly get in New Mexico and you have yourself a winner!
Thinking of switching to a company who is local and will give you better rates? Call New Mexico POS at 505-293-7551.
December 2, 2020
New Mexico POS has begun a mailing campaign!
We’ve created a variety of different post cards to promote our business and get the word out!
Take a preview of the newest cards being mailed locally and throughout New Mexico to get Point of Sale word around!
Have questions or interested in anything posted? Don’t hesitate to contact us!
November 10, 2020
Adding A New Menu Item
Adding a new menu item and menu file maintence is one of the easiest things to do within Focus POS. If you have any questions or need assistance, please do not hesitate to call our office at 505-293-7551.
To add a menu item, head to the Backoffice section of the Focus POS. On the top tool bar, press Menu > Menu Items.
The 1-7 sections to adding a menu item will walk you through adding your new menu item.
- Find a menu item similar to the one you’re planning adding.
When you highlight a menu item, the added item will inherit ALL programming except Menu Name.
- After highlighting the item, press ADD.
- Menu Name will be blank. Fill in the menu name and press tab to automatically fill all Name fields. *Name fields can be unique to every destination they represent*
Menu Item – Fill in Price #1.
Modifier – Fill in Price Mod.
- Attach any modifier canvases onto the item if required. The modifiers will be inherited from the item first selected. (Example: Highlighting a burger will give you Meat Temp / Add-Ons)
- Check item is in the correct Report Group and Printer Group (Printer Destination)
- Select or deselect any options the menu item requires.
Last step is to assign the menu item a destination. For an automatic canvas, select AUTO CANVAS on the top bar and check mark which canvas the menu item belongs. For a manual canvas, go into CANVASES in the main back office section.
Once completed, press SAVE.
For more in depth information, please refer to the Focus POS manual.
November 5, 2020
POS Emergency? Call New Mexico POS at 505-293-7551
Focus Not Starting
- Focus POS normally appears with Windows OS bootup operations. If this is not the case, touch the Focus icon on the desktop. Example
Focus is already running prompt / Focus not launching
- In most cases, Focus is open already and hiding in the taskbar. In the lower left hand corner (by the Time Clock), press the upwards arrow to show hidden icons, and press the Focus POS icon (orange F).
- Reboot the terminal in Windows by pressing Start > Power > Restart. Focus POS should begin loading with Windows OS.
- Double Tap the Focus POS icon on Windows Desktop.
- Contact New Mexico POS at 505-293-7551
Primary Path Cannot Be Found Error
This error occurs when the Main Computer / Server named Focus cannot be found on the network.
If Message is on ALL terminals:
- Check that the Focus terminal is turned ON and connected to the network. (If a red X or a world icon is appearing in the bottom left corner, check the ethernet cord is plugged in securely to the computer.)
- Verify any network switches connected to the Focus terminal are powered on and connected properly.
- Reboot the terminal Focus.
- Call New Mexico POS at 505-293-7551.
If Message appears on one / multiple terminals but not ALL:
- Check ethernet connection to terminals displaying error from (network switch / wall outlet ) and to (ethernet connection into computer).
- Verify switches computers are plugged into are powered ON and are flashing green / orange lights.
- Call New Mexico POS at 505-293-7551.
Backup Path Cannot Be Found Error
- Check that the Backup terminal is turned ON and connected to the network. (If a red X or a world icon is appearing in the bottom left corner, check the ethernet cord is plugged in securely to the computer.)
- Verify any network switches connected to the Backup terminal are powered on and connected properly.
- Reboot the terminal Backup.
- Call New Mexico POS at 505-293-7551.
Green Bar Appearing At Bottom of Screen
The green bar indicates the operating terminals cannot see the Credit Card Processing station.
- Verify the credit card processing station or all terminals are powered
- Verify all terminals are running the Focus POS program
Red Bar Appearing At Bottom of Screen
The red bar indicates the Focus terminal cannot see or back data up properly to the Backup terminal.
- Verify the Backup Terminal is powered on and running the Focus POS software.
- Verify the Backup Terminal is connected to the network.
Credit Cards Not Processing (Via Swipe)
Note: This will not work for EMV
Check the internet connection by pressing going to the Log In screen and pressing the time clock in the right hand corner. The About screen will appear and press the tab labelled “Internet”. Press PING at the bottom left of the screen.
..if [ REPLY FROM 172.2171.196 BYTES=32 TIME=42MS TTL=44] (Credit Card Station)
- Check Credit Card Processing station is turned on and running Focus POS program on screen.
- Check Credit Card Processing station is connected to the network.
- Reboot Credit Card Processing station.
..if [REPLY FROM 220.127.116.11 NO RESPONSE] (Internet down)
- Log into Focus POS and navigate to the PAYMENTS screen.
- Press the button labelled OFFLINE.
- Upon the next screen press OFFLINE.
- A message will appear “Credit Card Authorization will go offline. Continue?” Press YES