SoftPoS, otherwise known as Software Point of Sale, has emerged as a game-changing solution that empowers merchants to use their NFC-enabled smartphones or tablets as payment terminals.
All consumers have to do is tap their phone against a merchants’ mobile device to pay where a SoftPoS app is in use. This means merchants can keep up with growing demand for contactless, while their customers get more ways to pay.
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It’s an exciting time for SoftPoS, and with its trajectory set to skyrocket following Apple’s recent announcement of its deployment on iOS, we can expect it to reach an additional 1.2 billion potential users.
Initially embraced by smaller retailers for its user-friendly nature and cost-effective benefits, this digital solution has been an ideal alternative to expensive chip-and-pin machines. Its ability to revolutionize payment processes, expedite transactions, and increase conversions is now capturing the attention of larger retailers, too. By elevating sales and delivering exceptional customer service, SoftPoS is poised to redefine the future of retail payments.
The use of SoftPoS for large retailers
SoftPoS allows retailers to increase the number of payment points present in large retailers. This is because the digital solution can be installed onto different tablets and cashiers around the store, instead of being limited to the number of physical terminals a retailer owns. By reducing costs through improved efficiency, this will inevitably result in greater in-store conversions and increased profit margins.
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Additionally, being able to pay at different points throughout a store makes customers’ lives easier as they no longer have to wait in long queues to get served.
Removing queue time from the payment process
SoftPoS solutions bring greater mobility to larger retailers, which is an important benefit given the size and volume of their stores. For example, shop staff can be dotted around stores to assist customers and let them purchase items from a store worker versus having to wait in line at the checkout. This added mobility helps reduce the number of queues present and ultimately leads to greater sales and customer satisfaction.
For shoppers, this also means more personalized customer service and a faster checkout experience which can help boost loyalty. People with fewer items can also keep their shopping experience short and simple.
Managing Stock in Real Time With Mobile Devices
SoftPoS can also help retailers in managing their stock through the creation of ‘endless aisles’. This refers to a concept whereby merchants no longer have to stock every size and color of a product in their store.
Instead, retailers can use mobile devices to order out of stock items for delivery to the customer, as well as take payments on the same phone or tablet they use to manage their inventory. By harnessing mobile commerce as an extension of the in-store experience, retailers can begin to bridge the gap between e-commerce and the high street.
This also provides retailers with the ability to see the real-time popularity of certain goods and can help guide their inventory decisions down the line.
Unleashing the Potential of SoftpoPoS
SoftPoS technology for large retailers has the potential to unlock additional opportunities to complete sales, while delivering unparalleled customer satisfaction. The enhanced mobility and additional payment points provided by SoftPoS technology empowers retailers to meet the growing demand for both convenience and contactless.
As the world of payments continues its journey towards greater digitization, SoftPoS emerges as a pivotal tool for large retailers, propelling them towards operational excellence while improving their ability to deliver customer-centric experiences.
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