Business payments
GoTap vs a POS Terminal: Which Does Your Shop Need?
“Can I pay with my card?”
Before you choose how to collect payments, think about how your customers want to pay.
GoTap lets customers pay you through GoTap using QR or phone-to-phone Tap. A card POS terminal lets you accept supported bank cards. Your shop may need one, the other or both.
If most of your customers already use GoTap, you can receive their payments on your phone. If customers regularly bring bank cards to the counter, you need a service that accepts those cards.
What does each option do?
With GoTap, you show your business QR or start a Tap payment on a supported Android phone. The customer checks your business name and the amount, then confirms the payment. You check the money received in your own GoTap account.
A card POS terminal is a separate device for taking supported bank-card payments. Depending on the device, customers may insert or tap their card and authorise the payment.
Some terminals also support bank transfers and printed receipts. Check the specific provider and model before choosing.
GoTap’s phone-to-phone Tap is different from tapping a bank card on a card reader. Customers use GoTap to make the payment.
GoTap and a POS terminal at a glance
Scroll sideways to compare both options.
| What your shop needs | GoTap | A card POS terminal |
|---|---|---|
| Payments from GoTap customers | Customers scan your GoTap QR or use supported phone-to-phone Tap | Check whether the provider supports a relevant payment method |
| Bank-card payments | GoTap QR and phone-to-phone Tap are for payments through GoTap | Accepts supported bank cards |
| Equipment | Your phone; Tap requires a supported Android device | A terminal, with requirements depending on the model |
| Customer setup | The customer needs GoTap for a GoTap QR or Tap payment | For a physical card payment, the customer needs a supported card and any required authentication |
| Payment destination | Completed payments arrive in your GoTap wallet | Depends on the provider’s receiving account and settlement terms |
| Customer records | Completed sales create or update customer payment history | Transaction records and customer tools vary by provider |
| Costs | Check payment charges and any fees for moving money to your bank | Check device costs, transaction charges and other conditions |
When GoTap may suit your shop
GoTap is worth considering when your customers already use it and you want to receive their payments without a separate terminal.
For example, a regular customer comes into your food shop. You show your business QR. They scan it with GoTap, check the name and amount, then confirm. You verify receipt in your business account before handing over the order.
Each completed sale also creates or updates that customer’s payment history. That gives you a record you can return to when checking previous payments.
You can receive QR payments on iPhone or Android. Receiving Tap payments currently requires a supported Android phone.
The customer requirement matters. Someone who has never used GoTap may prefer another payment method to downloading an app and setting up an account while waiting at your counter.
When a POS terminal may suit your shop
A card terminal is useful when customers regularly want to pay with their bank cards.
That could include a supermarket, pharmacy or clothing shop serving customers who use different banks and payment apps. A supported card gives those customers a way to pay without joining the same app as your business.
Before getting a terminal, check:
- Which cards and payment methods it accepts.
- Whether it prints receipts, if your customers need them.
- How you check successful, pending and failed transactions.
- Where the money arrives and when you can use it.
- How you get help when a payment goes wrong.
A terminal’s features depend on its provider and model. For example, Moniepoint lists card payments, transfers and receipt printing among its terminal features. Check current terms rather than assuming every device offers the same service.
If you also want to offer cash withdrawals, review the provider’s agent-banking service separately. Taking payment for your shop’s goods is a different business activity.
Which costs less?
Compare the total cost of serving your customers.
With a terminal, ask about the amount required to get the device, who owns it, replacement costs and any transaction or usage conditions.
With GoTap, check the charges that apply to your payments and transfers to your bank. Using your existing phone removes the need for a separate terminal for GoTap payments, but it doesn’t establish that every transaction is free.
For both options, check account limits and when received money becomes available to spend or transfer.
Also consider the sale itself. Saving on equipment won’t help if customers cannot use the payment method you offer.
Do you need both?
You may.
A shop serving GoTap regulars and customers who prefer bank cards could offer GoTap alongside a card terminal. Customers choose the method they can use, and you check the correct receiving account for each sale.
Keep a clear record of which method paid for each order. If a payment result is unclear, check its status before asking the customer to try another method. That helps avoid collecting twice for the same purchase.
For either option, confirm payment through your own receiving service. A screenshot on the customer’s phone is not proof that your shop received the money.
Choose around your customers
Start with three questions:
- How do customers ask to pay? Notice how often they request GoTap, bank transfer or card.
- Can they complete the payment with what they already have? Consider their app, card and phone requirements.
- Can you confirm receipt and access the money when you need it? Check records, charges and settlement terms.
If your customers use GoTap, your phone can receive their GoTap payments. If accepting bank cards matters to your sales, choose a card-accepting service. If you serve both groups, offering both may be the practical answer.
Related guide: QR Payments vs Bank Transfers for Small Businesses in Nigeria.