{"id":334,"date":"2016-12-14T02:56:38","date_gmt":"2016-12-14T08:56:38","guid":{"rendered":"http:\/\/blog.beaglehardware.com\/?p=334"},"modified":"2016-12-14T02:56:38","modified_gmt":"2016-12-14T08:56:38","slug":"versatility-the-key-trait-of-tomorrows-successful-pos-system","status":"publish","type":"post","link":"https:\/\/blog.beaglehardware.com\/index.php\/2016\/12\/14\/versatility-the-key-trait-of-tomorrows-successful-pos-system\/","title":{"rendered":"Versatility – The Key Trait of Tomorrow\u2019s Successful POS System"},"content":{"rendered":"

As technology becomes more advanced, customers continue to demand more from their shopping experiences, both online and offline.<\/span><\/p>\n

To meet the needs of both retailers and shoppers, POS systems are becoming more and more versatile in the services they offer.<\/span><\/p>\n

When debit and credit card readers were first introduced, they began to transform the way we make purchases. Current POS systems encompass a wide range of business functions, such as cashless transactions to data collection.<\/span><\/p>\n

Today, keeping the customer happy in a competitive marketplace means offering a superior <\/span>\u201ccustomer experience.\u201d<\/span><\/a><\/p>\n

In other words, it is the retailer\u2019s job to make the entire shopping journey, from product selection to checkout, as pleasant and user-friendly as possible.<\/span><\/p>\n

How Versatile POS Systems Help the Retailer and the Customer<\/span><\/h3>\n

Business owners are certainly aware that a POS system can automate or semi-automate many business tasks, from inventory to order entry to data collection.<\/span><\/p>\n

However, as technology and new payment methods continue to advance, versatile POS systems will become even more necessary.<\/span><\/p>\n

Here are just a few of the diverse features that retailers should pay attention to when looking at the evolving POS market:<\/span><\/p>\n

Cashless and Digital Wallet Capabilities<\/span><\/h3>\n

Though digital wallets – the ability to pay directly from your smartphone – have their fair share of skeptics, the number of digital payment options continues to grow. And the number of customers using these digital wallets also continues to grow.<\/span><\/p>\n

Android Pay, Google Wallet, and Apple Pay are among the biggest names. But many other companies are jumping onto the bandwagon, including <\/span>Chase Bank<\/span><\/a>, <\/span>Amazon<\/span><\/a>, <\/span>Alibaba<\/span><\/a>, Samsung, and others.<\/span><\/p>\n

Delays in adoption are due to security concerns, as well as slow adoption rates by both customers and retailers. <\/span><\/p>\n

However, the sheer number of digital wallets being implemented suggests that this may become more than just a fad.<\/span><\/p>\n

EMV Compliance<\/span><\/h3>\n

Another major trend we see in the payment processing world is the transition to EMV credit card readers.<\/span><\/p>\n

On October 1st, 2016, banks shifted liability for fraud cases over to businesses, in cases where those businesses had <\/span>not<\/span><\/i> adopted chip-enabled card readers. <\/span><\/p>\n

Though some argue that <\/span>this is no reason to panic<\/span><\/a> – after all, no one will be arrested if they aren\u2019t EMV compliant – it\u2019s clear that banks and industry leaders are aggressively pushing for EMV adoption.<\/span><\/p>\n

And, as they do, more and more customers are being issued these cards, and security concerns may drive some people to shop where EMV cards are accepted.<\/span><\/p>\n

Mobile POS Integrations<\/span><\/h3>\n

The biggest benefit to mPOS solutions is their portability. <\/span><\/p>\n

They can be used on the floor, in the field, or wherever your staff happen to be. These systems often include a host of other functions, from cloud updates to design flexibility to data collection.<\/span><\/p>\n

POS vendors are also continuing to introduce new integrations, such as <\/span>mPOS devices <\/span><\/a>that are able to accept both EMV cards and digital wallets. <\/span><\/p>\n

Though mPOS devices are still in the minority, they are currently the most versatile devices, and may prove to be the standard at some point in the future.<\/span><\/p>\n

Tomorrow\u2019s POS Integrations<\/span><\/h3>\n

Although the POS and payment processing industries have encountered obstacles during their growth, expect technology to offer more integrations in the coming years. <\/span><\/p>\n

Expect to see POS systems that offer even more advanced technologies and functions, such as:<\/span><\/p>\n