Wireless retail POS trends and how your business can benefit.

Your point of sale (POS) solution should be your all-in-one business powerhouse. Having the right POS system by your side enhances the customer experience and makes running your retail operation infinitely easier. Because the tech and trends behind these important devices are morphing at a breakneck pace, it is in your best interests as a small- to mid-sized business owner to keep your ear to the ground for the changes that are right around the corner.

Enhanced payment choices.

You already know that bills and coins are virtually extinct with a large percentage of paying customers. Increasingly, many shoppers are also leaving their credit cards at home, preferring to pay using their digital wallet-equipped smartphones. If you have a modern wireless POS system, it probably has built-in digital payments capabilities. Once your customers’ digital wallets are set up with their payment information, all they need to do is to place it near your contactless reader in order for the details to be securely encrypted and passed along to the processing company for authorization and approval.

Additionally, if your business type and customer base suit these options, you should ask your merchant services provider if your equipment supports recurring billing, international payments, and cryptocurrency such as Bitcoin. Giving shoppers as many ways to pay as possible is one of the biggest trends expected to hit payments this year.

Continued emphasis on mobile transactions.

Retail payment processing and mobile technology go hand in hand in today’s retail environment. If you don’t have an up-to-date website that is easy to navigate for all devices including mobile phones, you are guaranteed to be missing out on sales. Embrace the trend by making your site mobile-friendly. Also, consider hiring a consultant to develop a native app for your store.

Updated loyalty programs.

You may have already recognized that rewarding customers for their patronage is good for everyone involved. To that end, you probably use a system of punch cards that are stamped each time someone makes a purchase.

It’s time to ditch the paper in favor of POS integration. Thanks to modern systems, you can run your entire loyalty program digitally. Keep track of each individual’s purchase as it happens, eliminating the need for paper that is environmentally unfriendly and easily lost.

Operate your POS system from the cloud.

When your POS system is located offsite, your business realizes several benefits. Everything can be controlled from a single app from anywhere, enabling you to run your store more efficiently. Furthermore, updates are downloaded automatically, resulting in a higher level of security. Finally, your cloud-based system will integrate seamlessly with the other accounting and customer relationships management software that you use to run your retail operation.

Get smarter with artificial intelligence.

AI isn’t just in science fiction novels; more and more stores are using it. Consider employing artificial intelligence to detect and prevent in-store fraud, enhance the shopping experience, and predict inventory needs by scrutinizing shoppers’ buying histories.

Analyze customers’ buying habits to enhance their experiences.

Consumers are often willing to provide details about themselves in exchange for freebies and membership privileges. Use your POS software to leverage this tendency by gathering contact details, as well as data about customers’ interests and preferences. You can then use this information to provide the targeted, personalized buying experience that today’s shoppers are increasingly demanding.

Your POS system is just sitting there waiting for you to take advantage of its many features. Use it to its fullest by embracing the changes to come. Your customers will thank you, and so will your bottom line!