The New Generation of Electronic Point of Sale Terminals
Electronic point of sale (EPOS) systems enjoyed a rapid initial growth, particularly when ‘chip and pin’ was introduced as standard in the UK. That growth, however, was primarily seen within the retail sector, with electronic point of sale technology failing to significantly expand into other industries. Fears over security were cited as one of the primary reasons, but now, as many organisations are confirming that chip and pin is safer than the old magnetic strip, electronic point of sale growth is once again expected to soar, with experts claiming that global revenue could surpass 103,20 Billion Dollars, up from just 3681 Billion in 2013. Year-on-year growth is also expected to rise rapidly in the UK, and across the world.
As a result of this predicted global growth, electronic point of sale terminals are changing. We’re seeing a definite trend for providers to move away from the early systems, and they’re beginning to incorporate more modern features that would appeal to contemporary businesses looking for simple and cost effective ways to improve customer experience and boost brand loyalty. Here are just some of the newer features of electronic point of sale terminals that demonstrate advancements in this area:
- Digital receipts to minimise paper use and show and commitment to environmental responsibility.
- Electronic signature capture to enable quick, simple sharing of vital information and data.
- Greater focus on ‘front end’ EPOS terminals, such as those fitted with reinforced glass.
- Electronic point of sale software that can be utilized on existing devices, such as smartphones.
- Dual screen technology to help strengthen business-consumer relationships.
As more and more features are added to electronic point of sale, it is expected that the terminals will begin to become a standard part of many other industries, expanding into more sectors. The hospitality, logistics, legal, entertainment, and leisure industries are all expected to benefit from the new generation of electronic point of sale terminals, while strong growth is anticipated to continue in the retail sector.
If your business takes orders, bookings, payments, or signatures from customers, then a new generation electronic point of sale terminal could help to significantly streamline the process. Compare electronic point of sale systems online to find a terminal that ticks all the boxes, enabling your business to develop in the right direction and helping to build strong relationships and greatly improve customer experience.