Mobile POS is key to a better retail experience
March 07, 2013

There are a variety of elements that contribute to a great customer service experience, ranging from the demeanor of employees to the quality of products. However, if there is one critical area that companies can't afford to go astray on, it's the payment process. Once customers have decided they want to make a purchase, the transaction should be quick, seamless, convenient and flexible to the desires of the customer.

For example, one study conducted by Narayan Janakiraman, an assistant professor of marketing at the University of Arizona's Eller College of Management, suggests slow checkout processes are a major deterrent of sales. If consumers have already been waiting in line for two to three minutes and believe they will have to deal with the line for as little as one more minute, they may abandon their purchases.

There are a variety of ways these lines can occur, and a common one is not having the flexibility to accept the payment types that customers are trying to use. This is particularly the case among smaller businesses, which may traditionally only deal with cash and not have the means to accept credit card payments or accept debit card payments.

For this very reason, a recent survey conducted by SAP - the GSMA Mobile World Congress survey - highlights how pivotal mobile point-of-sale (POS) solutions and hardware are not only to the creation of a memorable customer experience, but also to a successful business. As many as 53 percent of industry leaders believe that mobile payment systems are inherently tied to their ability to improve the customer experience.

Mobile POS offerings were cited as being "the secret sauce" that drove the retail experience, with 25 percent of respondents making particular note of the importance of universal acceptance of mobile payments.

"We are seeing a maturing of the mobile payments market, as we move from a service that is driven by person-to-person payments to one that must tackle the challenges of the retail environment," explained Diarmuid Mallon, who heads the global mobile marketing programs at SAP.

Accepting mobile payments comes with a number of other benefits as well, such as establishing businesses as being forward-looking in terms of technology integration and creating a more efficient work space that maximizes the use of all equipment.

Nexus: G-WEBCD4