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Is the traditional POS system coming to en end?

As the payment technology changes, expectedly the POS hardware and platforms develop with it. From mPOS to the POS with Google Mobile Services, it is noticeable these systems are changing its traditional role.

Many of retailers today are finding radical ways to eliminate the need for tills, check-outs and everything to do with traditional point of sale stations. In Amazon GO stores, there are no tills because you pay everything via mobile wallets.

However, contrary to popular belief that brick-n-mortar stores will cease to exist with new generations and ecommerce, retail is far from gone. Therefore, in a recent study carried out in the U.S., 80% of Genzers (people aged 18-24) claimed to prefer shopping in-stores and find it more enjoyable than online shopping.

From cash registers to mobile POS systems

In 80s and 90s, the retail world saw the emergence of electronic registers, barcode scanners, PC-based POS, and credit card devices.

Mobile point of sale (mPOS) solutions came in 2000s and made such an impact that a majority of UK retailers in 2014, rated mPOS as the most important in-store technology for consumers. mPOS systems are still gaining market share. These mobile solutions even stepped-up the traditional role of POS from being just a checkout system with its retail management features that allow retailers to stay on top of inventory, reporting, and customer management.

mPOS use

One of the latest developments is the new Ingenico’s Axium D7, the first POS to achieve Google Mobile Services and PCI-PTS v5 certifications. The terminal is expected to offer experience similar to android or tablet, which is something users are familiar with. In relation to collaborating with tech giants such as Google, Guillaume Andre, Head of Marketing, Ingenico Northern Europe, said that in this new era, the boundaries between the consumer and business worlds are blurring. Tech leaders can provide a key to delivering innovative solutions across a wide range of markets and sectors.

The experts predict that in the future, different verticals will have their individual unique deployment of in-store devices. Merchants will want to strengthen their visibility toward consumers through user interface that is innovative and can serve marketing purposes, and the new all-in-one models such as Axium D7 (and many others that will arrive in the near future) will surely find its place with merchants who have the conditions to do so.

Even though the basic POS role is still prominent, it is certainly moving away from simply being a transaction-processing solution towards becoming an added touch point retailers can use to enhance customer experience and solidify their customer relationships. The problems and challenges in development remain with the certification related to all the needed payment schemes and ensuring a clear division of responsibility in the cases of fraud and chargeback prevention.

The time will tell how the new POS solutions spread to various markets.

 

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