Retail CIO Outlook Weekly Brief
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Mobile technology is recognized as being the most rapidly adopted consumer technology in history. Its impact is revolutionary, generating a sea change in the way people work. The economic landscape also is impacted by mobile bringing a transformational force on commercial operations, not least of which is retail. Mobile technology is revolutionizing the way people shop and retailers run their business. In this age of digital payments, mobile point of sale systems (POS) are making inroads with the promise of faster, convenient and better-informed shopping experience. These systems can provide retailers with the ability to check their inventories gaining traction in many different verticals.
Before adopting mPOS technology, retailers must develop a strategy to leverage mobile payments to the maximum extent and tailor a seamless shopping experience for buyers. Primarily by keeping in mind the nature of the business, retailers have to be careful while picking an mPOS system.
Leading mPOS systems will have inventory control options for retailers. Inventory information is automatically updated in the software, and a retailer can easily track the status of products in various categories. Along with this, another benefit of an mPOS solution is that it helps retailers go through numbers, to evaluate the pattern of sales through a particular period. It can provide information about products sell best during a specified period and organize inventory accordingly.
If employed correctly, mPOS technology brings efficiency in a retail business. Retailers can make business more operational with mobile payments, eventually driving more sales and increasing profitability. If take a look at the benefits of these mPOS solutions they will include
• Mobility- Accepting credit card payments anywhere
• Personalized service- Enhancing customer experience, increasing sales opportunities
• EMV migration- Easing into the upgrade
• Quick checkout- Retail line busting made easy
• Accept mobile wallets- Providing multiple options to pay
Employing an mPOS system will give business more leverage, optimizing the selling point for maximum sales and keeping retailer updated with transactional data.
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