A POS—or point-of-sale—system is a vital business tool that has mostly replaced the classic cash register with ever-evolving, tech-driven alternatives. These platforms offer company management capabilities such as click-and-collect shopping, loyalty programs, and bill splitting in addition to in-person transactions. We’ll take a look at 5 POS technology trends and how they’re affecting businesses throughout the world.
One of the most popular POS technology developments nowadays is cloud-based POS. Traditionally, setting up and learning an on-premise POS takes time. Not to mention that it requires an IT crew to assist with system testing and repair. All of this is replaced with a single app with a cloud-based POS. Any updates will be delivered from the cloud to your device anytime and anywhere. It simplifies the entire process, making it more manageable for businesses.
If budget is an issue, you can make the switch to a cloud-based system gradually. It is possible to adopt the system step by step, paying solely for the approaches that are needed.
Integrated loyalty program
Customers are more inclined to return for more transactions when businesses show them that their loyalty is valued.
As a result, creating a loyalty program and integrating it with a store’s POS can only benefit them. While most businesses would supply stamp and sticker cards, having a computerized rewards program is still an excellent idea. Because some customers may forget to bring their rewards cards, this is the ideal option. Customers’ transactions can be linked to their rewards IDs simply by entering their registration numbers or names into a digital rewards program. This action may encourage clients to visit a business more frequently.
Seamless omnichannel experience
By no means is omnichannel a new concept, but POS technology continues to enable merchants to provide a more seamless consumer experience across all touchpoints.
Today’s buyers don’t buy in a straight line. Someone may, for example, first discover your items on Instagram, then visit your shop, and then make a purchase on your website. Even for conventional brick-and-mortar businesses, the purchase cycle is becoming increasingly difficult with click and collect.
Many POS systems on the market nowadays, such as ConnectPOS, specialize in providing a seamless omnichannel experience. Retailers can easily monitor inventory levels and transactions in a single system, with data being synced automatically.
A number of firms are already adopting AI-enabled POS in their stores because of the extra benefits of having AI integration. AI can assist business managers in preventing fraud and ensuring the security of client information. They are capable of detecting and preventing fraud, as well as ensuring that the information submitted is secure at all times. For example, it sends out notifications in the event of any questionable activity. The technology may even monitor employee behavior to ensure that they are performing their duties.
Furthermore, customers can get the same personalized experience in-store as on online websites by using artificial intelligence. Based on previous purchases, AI can tailor a customer’s behavior, detect their faces and present relevant product displays to staff to get to know customers better.
Different payment methods
Customers expect transactions to be faster and more convenient, in addition to a personalized purchasing experience. Upgrading and adding the payment types to your POS devices is one approach to ensure faster transactions.
With additional payment choices and registers available to paying consumers, you should anticipate payment transactions to go more quickly in the coming months, leading to happy customers. Contactless payments, smartphone payments, and a variety of other ways are examples.
Now that you know the top POS technology trends, it’s time to consider which one suits your business best. If you want to know more about ConnectPOS or have any questions about eCommerce, contact us today for more information!