Whether we like it or not, e-wallets and mobile payments are quickly becoming a huge trend, steering us towards a cashless society where payments can be made conveniently with just the tap of a button.īy having a POS system that accepts digital payments, your business will maintain a competitive edge whilst improving the customer experience through providing a fast and secure payment method. In 2021, most POS systems should be able to accept mobile payment methods and provide access to real-time data. Not only do you save on costs, but you also reduce wait times at checkout. Sometimes e-wallets also come with special perks such as cash back rewards and promotions.īut what do businesses get out of digital wallets?Īs you may know, credit card interest rates are usually between 2-3%, but e-wallet interest rates are far lower at 1-2%.
It is also easier for the user to keep track of their transactions and budget their spending. Instead of inserting your card and entering your pin number or taking cash out of an ATM, you can make instant payments and leave. We never go anywhere without our phones so this is super convenient!Īdditionally, digital payments allow quicker and easier check-outs. Instead of carrying around a bulky wallet everywhere or forgetting your cash, credit card or ID at home, all of this information would be on your smartphone. This has been a rising trend because e-wallets and mobile payments give customers greater flexibility and convenience in payment choice. Use of e-wallets and mobile paymentsĪs the number of smartphone users increases every year, more people are using e-wallets to store credit card, debit card and even loyalty card information. Now that we are familiar with the term POS, let’s move on to what the latest trends are.ħ. A POS system now doubles as a stock and sales control system. Merchants typically use a POS system to complete these sales transactions. POS (Point Of Sale) is the stage where a product is passed from seller to consumer. In this article, we will look at the top 7 POS business trends in 2021 that will shape the future of retail and how you can adapt to them. Luckily for you, you have stumbled upon the right page! In 2021, the latest trends include new payment methods at check out and new ways to store data.Īs a retailer, you must act quickly and adapt to these new changes in order to maximise customer sales and stay ahead of the game. With technology evolving so quickly, it’s pretty hard to keep track of all the trends changing. The intuitive and mobile POS app also makes it easy to fly through checkout and assist customers anywhere, on the sales floor or on the go.7 POS Trends Shaping The Future Of Retail 2021
Linking in-store and online sales with Shopify helps you simplify inventory tasks, have more control over cash flow, and re-engage in-store visitors with online marketing. Shopify POS connects to that powerful back office for in-person sales, ensuring that inventory, payments, and customer data are fully synced as you make sales from your retail store. This means flexible shopping options like buy online, pick up in store or buy in-store, ship-to-home are seamless. Having a unified back office gives you the ability to sell from a retail store, a pop-up, a website, on social media channels, or online marketplaces, while keeping them all connected. No matter where you sell, in-person or online, Shopify becomes your command center for managing products and orders, accepting payments, and building relationships with customers. Shopify is a complete platform for running a business.
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