March 21, 2015
Technology is transforming retail at a lightning pace, especially when it comes to the point of sale. The shiny new POS system you bought just a few years ago may already seem ancient, as tablets are now replacing credit card terminals, new technologies like Apple Pay are coming on strong and consumers increasingly expect to pay for purchases with their smartphones. There’s a lot to keep track of in this fast-changing space, making it tough to know which, if any, upgrades you should make to keep your business current and your customers happy. Here, a store owner who’s shopping for a new system, a retail consultant and a business solutions expert each share a few nuggets they think you should know.
Retail Consultant
You may already have NFC. If you have installed a POS in the last five years, you most likely already have a near field communication pad. Near field communication is just a way of communicating between devices such as smartphones. You don’t have to enable it, but it makes transactions easier. The system integrates directly into banking and credit card systems, but there’s no paper to sign.
Consider PayPal. PayPal is essentially another credit system that is becoming more widespread. The retailer does have to set up an account with PayPal, but the company generally underwrites installations of their pads. This will probably be treated as just another routing system by the end of the year.