Intro to Grocery Store Payment Processing: 3 Industry Tips

Every cha-ching of your cash register or chime of your PIN pad should be music to your ears. 

These sounds represent successful grocery shopping trips, completed transactions, and satisfied customers — all of which are essential ingredients for your store’s success. 

But before you can celebrate the sound of a sale, there are some things you need to know about grocery store payment processing. 

In this blog, we’ll explore the role of payment processing in your store’s day-to-day operations and share our top three tips for finding a grocery store payment processor you can trust. 

Why Do You Need Grocery Store Payment Processing?

Payment processing is the pillar of any business’ operations. This service makes sales transactions possible and allows you and your customers to exchange funds for goods. 

Let’s look at a quick example of how your payment processing system fits into the grocery shopping experience: 

• After a customer browses your aisles and fills their cart, they approach the checkout counter. Your cashier scans their items and uses your point of sale (POS) system to calculate their total. 
• Your customer presents their payment method — which can be a credit or debit card, cash, or mobile wallet. 
• Your payment processing system authorizes the transaction, ensuring that your customer has enough money in their account to make the purchase. 
• After authorization, your payment processing provider transfers your customers’ funds to your grocery store’s account, completing the transaction. 

The right grocery store payment processing system makes this process quick, secure, and seamless for you and your customers. 

3 Tips To Get the Best Grocery Store Payment Processing

Now, let’s explore your next steps to secure grocery store payment processing. 

Your payment processing provider will play a major role in your store’s operations, ensuring a safe, convenient checkout process for all of your shoppers — which is why it’s crucial to do your research and choose wisely. 

1. Choose an Integrated POS and Payment Processing Solution

When it comes to grocery store payment processing, you’ve got two main options: You can outsource your processing to a third-party provider, or you can secure payment processing through your POS software provider. 

Choosing a third-party payment processing provider has some benefits, letting you shop around for the best rates and service, but it also has drawbacks. Separate POS and payment processing systems often have connection problems, leading to inaccurate or clunky checkout processes. 

In contrast, an integrated solution ensures a seamless connection between your POS and payment processing software and hardware. Plus, you’ll only have to work with one provider who can help you with everything from processing transactions to managing your inventory. 

We recommend relying on one provider for your POS and payment processing needs for simple, stress-free checkouts. 

2. Accept Various Payment Types

Your next big decision is to choose which types of payments to accept. Let’s take a quick look at the payment options customers can use at your grocery store: 

• Cash
• Credit or debit cards
• Mobile wallets for contactless payment
• Checks
• EBT and eWIC

Accepting a wide variety of payment types can expand your customer base and make all your shoppers feel welcome. No matter how they choose to pay, they should be able to enjoy a smooth, convenient checkout experience. 

When searching for a grocery store payment processing provider, it’s critical to ask what types of payments their hardware and software can accept and make sure their offerings match your customers’ needs. 

3. Search for a Reliable Payment Processing Provider

Now that we’ve covered the basics, let’s explore how to find a grocery store payment processor you can count on. 

Your provider should be a reliable expert committed to your small business’ success, so here are three key factors to keep in mind as you shop around: 

• Cost: Your grocery store payment processing solution should fit into your budget. Get multiple quotes from different providers, and ask them to outline their transaction fees and the terms of the contract. Your POS provider will often provide the best deal on payment processing since you already have a relationship with them. 

• Security: Payment processing is serious business. You’re responsible for your customers’ sensitive financial information, and you should be able to trust your payment processor to keep it safe. Look for a provider that’s committed to PCI compliance, automatic updates, and encryption. 
• Support: During peak shopping times, technical issues are the last thing you want. That’s why you should choose a payment processor that offers easily accessible customer support 24/7. These experts can help you get your store back up and running in no time. 

Choosing the right payment processor can make a big difference for your store. Before committing to one, think carefully about your business’ needs and vet all your options. 

Secure the Best Grocery Store Payment Processing With IT Retail

Finding a grocery store payment processor that checks all the right boxes might sound like a challenge — but fortunately, you don’t have to look far. 

IT Retail is an all-in-one POS and payment processing solution designed by and for grocers. We offer affordable, secure, seamless grocery store payment processing, plus 24/7 support to help you make the most of our software. 

Choosing IT Retail also gives you access to other features designed specifically for the grocery industry, including deli scale integration, perishable inventory management, and advanced reporting and analytics. 

Ready to start your IT Retail journey? Schedule your live demo today.