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How Smart POS Terminal Improves Merchant and Customer Retention?

Customer satisfaction has always been a boost to business growth, and high customer retention is what all companies pursue. Smart POS terminals in the era where card payments and methods like Apple Pay and Samsung Pay have primarily replaced conventional currency exert significant influence on customer satisfaction. Therefore, a smart POS is popular among businesses, especially for those on a large scale. However, there still some businesses are lingering about whether they should equip their stores with a handheld POS device. In fact, a point-of-sale system can help the company increase retail revenue in a variety of ways. 

Real-Time Management

An intelligent POS terminal could be your right hand to real-time manage your inventory and anticipate inventory needs. This is especially relevant during the holidays when you need to track your inventory across several locations and anticipate whether there is a need to order supplies ahead of time to fulfill customers’ expectations. Furthermore, a mobile POS system will provide you with some helpful information about your sales, for example, which item is the bestseller, when are the busy times of day or season, and how to predict the changing inventory needs, etc. These would help to boost retail sales efficiency. 

Scalability

A smart POS terminal is the same as a smartphone in some functions, such as the App Store. There is a bunch of apps that are developed by senior workers and have the latest trends and technology running in them available for downloads, such as voice recognition or sales management.

Traditional point-of-sale systems had minimal integration capabilities and only supported a small number of peripherals. However, intelligent terminals can be used for a variety of applications and can be conveniently configured with a variety of printers, barcode scanners, and cash registers. Smart POS terminals have redefined payments with honesty and ease, thanks to brilliant features that cover all of the needs of the retail world. 

Seamless checkout experience

Smart retailers understand the value of having a seamless shopping experience in-store, online, and on the go. That is why POS systems (and virtual terminals) are so crucial for improving the shopping experience and helping you develop a loyal customer base. With a mobile POS system, cashiers do not have to enter an item’s SKU manually. Not only does this reduce transaction time, but it also reduces human error. A strong and polished impression of your brand is created by a seamless payment experience with a smart POS payment terminal. 

Better Customer Interaction

What methods do you use to increase brand loyalty? How do you keep customers coming back to your store? Special incentives and personalized offers focused on a customer’s buying history are a perfect way to accomplish both of these goals. Connected with an IoT terminal, smart POS terminals can be powerful enough to enhance transparency that the customer can actually see while you add products to their purchase list and finalize their transaction through touch-based on-screen e-signature.

Portability

You can entirely change the traditional sales process by using a mobile POS system. Customers are also required not to wait in line to complete their orders by using a mobile system. Instead, thanks to mobile checkout choices, customers can check out from anywhere in the shop. Sales associates can walk around the retail floor and provide customer service using tablets linked to the POS device. This is a big time-saver for consumers who don’t want to stand in line.

Mobile checkout is also advantageous since it encourages impulse and on-the-spot purchases. This boosts revenue and profits, resulting in a healthier bottom line.

Integrated Payment Solution

Smart POS terminal integrates the advantages of multi-channel payment methods, making banks and third-party payment platforms easy to access. Credit card, NFC payment, QR payment (WeChat / Alipay / Apple Pay/ Samsung Pay), third party account payment and so on are what Smart POS supports to simplify payment docking of businesses and provide follow-up value-added services. It is the best solution to balance the security of capital and the convenience of users. 

How to Choose the Best Smart POS Terminal?

Do you step into a dilemma that you want a smart POS but bewildered for various POS terminals on the market after knowing the great benefits of the Android POS terminal for your sales promotion? The followings are some points for you to choose the best intelligent POS terminal.

  • Assess your company’s needs. There is no same business, and the smart POS  that works for others may not suit you. If you are just at the start of your business, a small mobile POS terminal may be more suitable for you. When the enterprise enters the growth period, a more powerful and integrated sales terminal will be your choice.
  • Consider security. Potential security risk is one of the most important factors to consider when choosing a POS terminal. Unsafe POS terminal will take you to high risk of stealing customer data, disclosing customer information by malware, and ultimately losing customer loyalty.
  • Consider whether the system is compatible with future technology. In this information technology era, the iteration of technology update is very fast. You have to consider whether the mobile POS terminal you want to choose is compatible with the technology of the future; otherwise, you need to replace new products at a high cost constantly.

3 Best Smart POS Terminal Brands to Choose from

Urovo is one of the world’s leading mobile application solution providers, focusing on the research and development of intelligent payment terminals. Its mobile POS terminal i9000S supports the payment collection of all channels, including NFC payment, Apple Pay, Samsung Pay, Alipay, WeChat payment, and Quick Pass mobile payment. In addition, app store and peripherals, such as printing, identification of ID card and fingerprint, contribute to its outstanding features and being prevailing in various industries, such as ticketing, transportation, and government utilities.

Square has been committed to providing intelligent POS terminal solutions for online stores, restaurants, and other enterprises. Square’s point of sale system allows you to sell personally, online, by phone, or on-site. It is easy to use and does not require training. As goals change, you can quickly add tools from managing team members to adding devices and locations to help your business grow.

Lightspeed is the best mobile POS terminal for restaurants. Lightspeed’s smart POS terminal allows customers to order and pay directly on their mobile phones and displays the details of their orders in real-time. Even with limited staff, you can also increase turnover and efficiency with Lightspeed.

Conclusion

All involved in the sales process will benefit from Smart POS terminals and schemes. It streamlines business processes and improves day-to-day life for your employees. Get a sound POS system to shorten checkout times, boost sales, and provide the comfort that today’s customer demand for retailers.

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