Report to Merchants: Poor Point-of-Sale Management Undermines Business
Two thirds of Canadians have abandoned a purchase because of slow or crowded checkouts
Toronto - April 16, 2003 - Data collected by Moneris Solutions Corporation, Canada's leading processor of debit and credit payment, found that two thirds (66 per cent) of Canadian consumers have decided not to purchase something because a store's checkout line was too crowded or slow. The research is part of Moneris' inaugural Report to Merchants.
The likelihood of having abandoned a purchase was higher among younger consumers: 72 per cent among those aged 18 to 34 compared with 53 per cent among those aged 55 and older.
"A merchant's point-of-sale is the final operational hurdle," says Jim Baumgartner, President and CEO of Moneris Solutions. "It is critical to process sales efficiently. To lose a customer because you're unable to process a transaction efficiently is incredibly frustrating and preventable. The point-of-sale is where the last impression of the merchant is made."
- Moneris Solutions makes these recommendations to maximize point-of-sale efficiency: Use electronic terminals at all processing points. Not only are they fast but they also allow merchants to capture key data about customer traffic flows and purchase patterns
- Take advantage of wireless terminals to add additional processing capability during peak times such as the Holiday Season or during major sales
- Offer full credit and debit acceptance at all check-out points
- Invest in training of staff. Moneris recommends establishing standardized steps for staff to follow when processing payments, including greetings. In addition, staff should be able to handle all forms of transactions including all payment formats, as well as gift cards or certificates, returns and refunds
- Use mystery shoppers to spot-check operations on a regular basis.
Moneris Solutions Corporation
Moneris Solutions Corporation is Canada's largest provider of payment processing solutions for merchants. Moneris offers card transaction and payment services for virtually every industry segment that accepts credit and/or debit card payments from its customers. More than 350,000 merchant locations rely on Moneris Solutions - 24 hours a day, 7 days a week - to process and streamline their card payment processing.
In addition, Moneris Solutions works with a range of business partners to provide Canadian merchants with hardware, software and systems to improve business efficiency, and manage point-of-sale information.
Moneris Solutions has a staff of over 1,100 employees at its head office in Toronto, Ontario, and offices in Chicago, Illinois, Montréal, Québec, Vancouver, British Columbia and Sackville, New Brunswick. Moneris Solutions was formed in December 2000 as a result of a 50:50 joint investment between the RBC Financial Group and BMO Financial Group.
The data in the Moneris Solutions Report to Merchants is based on a survey conducted for Moneris Solutions by Decima Research Inc. Research was conducted in March, 2003 over the phone with more than 2,000 adults across Canada 18 years of age or over. Results are considered accurate to within 2.2 percentage points. To view a copy of the Report to Merchants survey backgrounder, please visit the
Moneris Media Center.For more information, contact:
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