Internationally Known Point of Sale Terms Making Their Way to the USA
(Image sourced from http://www.nationsonline.org/bilder/continents_map.jpg)
Anyone that keeps up with point of sale technology will agree that merchants have easier access to a wider array of software than they did in years past. Technology is opening the gates for international companies to become mainstream here in the USA. This push for newer and better technology is moving the needle forward as competition increases.
New Zealand based software companies Vend HQ and Xero, as well as UK based Pepper HQ are becoming popular in the United States as more and more software companies are integrating their technology and expanding merchant's options for new products and services. For those using these software products in the USA, some of the terminology that is used in the international community is new for US-based businesses. Here are some of the terms that may affect your business:
Layby: This is known as Layaway in the USA. Layby/Layaway is “a system of paying a deposit to secure an item for later purchase.” Interestingly, Layby was coined over 30 years earlier than Layaway; although they are essentially the same thing.
(Quoted from http://www.dictionary.com/browse/layaway?s=t)
Topping Off: This is known as tipping, or tip adjustment in the United States.
Parking a sale: Holding a sale or saving an order that has not been paid yet.
EFTPOS - Commonly known as electronic payments. This refers to an electronic transfer of funds at the point of sale using a plastic form of payment such as debit or credit cards.
And a few more just for fun:
Dog’s breakfast - A mess or complicated situation
Mates rates - Discounts
Nah, yeah - Yes
Yeah, nah - No
Ripsnorter - Something that’s exceptionally good.
Now you can use the lingo with the best of ‘em!
Vend - Vend is the world’s leading cloud-based point of sale software for retail businesses. Vend makes it easy to manage your business remotely, whether it is checking your sales in real time, updating your inventory or connecting with your customers. Vend integrates with best-in-class software such as QuickBooks, Shopify and Timely. Please check out Vend at https://www.vendhq.com.
Xero- Xero is a popular cloud-based accounting software for businesses. Customers using Xero benefit from over 600 tools that help with inventory, invoicing, time tracking and more. Because this software is cloud-based, customers can remotely access their information in real time. Please check out Xero at https://www.xero.com.
PepperHQ - PepperHQ offers custom applications to drive loyalty, increase operational efficiency and improve revenue. Popular uses of their products include marketing tools, detailed analytics, real-time activity, pre-pay and pre-order, and integration with popular point of sale systems. Please check out PepperHQ at http://www.pepperhq.com.