Increasing POS flexibility with advanced payment processing services
October 29, 2013

Investing in electronic payment systems can increase any small or medium-sized organization's capacity to generate revenue and process transactions from a variety of channels.

Advancements in technology have created unique opportunities for businesses to transform the traditional point of sale experience. For example, younger consumers are incorporating mobile tools such as smartphones and tablets into the shopping process more than ever before. Even outside of retail, many companies in the service industry are quickly discovering their customers prefer to utilize new technology in the business world.

According to Houston Chronicle, the point of sale is a flexible concept at most enterprises. While it's most commonly recognized at the checkout line at a grocery store or other retail establishment, a POS can encompass much more. By definition, it simply represents the time and place at which a transaction takes place. A POS can exist at the outdoor fuel pump of a gas station just as well it may take place online through an e-commerce portal.

New developments in mobile technology can further expand the flexibility of credit card processing systems. In fact, Fierce Mobile Retail, an online publication, cited a recent report from the data-driven marketing research company Infogroup Targeting Solutions that estimated the use of mobile transaction services will triple by 2018. While only a small percentage of the 100 business executives surveyed said they have already adopted such technology, a large majority said they have plans to introduce mobile services over the next few years.

The ability to increase the flexibility of the point of sale gives businesses in any industry the opportunity to open up additional revenue streams while satisfying new consumer demands. Stores can further enhance their transaction technology by investing in integrated payment systems. These services make it easier to keep track of transaction data from multiple channels.

Nexus: G-WEBCD5